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MMX - 3 Billion tons of iron ore reserves WOW

Chart Forum » Stocks - ASX: long term & fundamental » MMX - 3 Billion tons of iron ore reserves WOW

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peterloh
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Username: peterloh

Post Number: 3551
Registered: 03-2003

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Friday, January 15, 2010 - 01:31 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



MMX has recently broken out and now has returned to retest the support level.
RSI is still strong and although MACD is still negative, there are signs that it is turning around though.I bought MMX after it retrace from its recent high.
The recent upgrade impressed me enough to buy into it and I have used TA to time my entry.
The price I paid for MMX $2.66 is slightly above the support level

MMX is 50% owner of the Jack Hill's reserves and the railway and port project.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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hershy
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Username: hershy

Post Number: 2996
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Saturday, January 16, 2010 - 03:12 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Responding to a comment on the short term MMX thread:

Fair comment, I can understand that it may not be the clearest statements.
Peter suggested the thread be moved to LONG TERM.
I stated that since Peter sees himself as a LONG TERM player, I agree that the thread - which was started by him and is in reality HIS thread should be moved to the LONG TERM thread as stated by PeterLoh on January 15..
This thread will be continued in the Long Term Trade as of today.
My post was in response to that of someone claiming to be a captain who was disagreeing with the thread being moved.
Not that he had any right to do so but that's another matter.
I disagreed with the double top that this person was calling but agreed that in the short term I see selling pressures.
LONG TERM MMX looks to be have the goods but of course it will be affected by the general state of the recovery.

I hope this clarifies the meaning of my previous post.

Let me further add that in the weekly comp, I came last in a race of two contestants, beaten by miles and miles by Charles.
I don't know how I will be able to live with myself !


O true apothecary!
Thy drugs are quick.
Thus with a kiss I die.








If love is blind, why is lingerie so popular?

http://members.optusnet.com.au/~hershy/

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peterloh
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Wednesday, March 10, 2010 - 10:35 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



hershy,

MMX has broken out and now comeback to retest the support level. With talks of a price increase of iron ore of 40-60% on the cards, MMX will get a boost in its SP for this.
The initial targets looks like $2.92, after this blue sky ahead?




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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hershy
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Username: hershy

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Registered: 10-2002

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Wednesday, March 10, 2010 - 06:51 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hello Peter
Yes I agree. I like the iron ore story.
Based on Eliott waves, MMX is showing me a target around $3.15.


'You, you, and you ... Panic. The rest of you, come with me.'
http://members.optusnet.com.au/~hershy/

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peterloh
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Thursday, April 15, 2010 - 12:24 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Peter,

The Captain would had been happy with MMX as his short term trade, it has just broken out with volume and is ATH.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Monday, September 13, 2010 - 02:29 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



This one wasn't going too well, as late as the beginning of the month.Picked a few up just to average down.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Thursday, October 14, 2010 - 04:12 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



MMX has lost its way.




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Thursday, October 21, 2010 - 09:34 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I did not elaborate, that the SP of MMX has been in a down trend because they have a court case going on with CHM. With the expenses quantified after the outcome, I expect MMX to concentrate on what it is doing best, that is mining for iron ore and there after its SP should be recovering. The Japanese partner is free of the worries now and is now willing to pump more money into the project and we find this company very undervalue. MMX has been a laggard in the iron ore business, but I don't expect it to look back from here on.There is 10% shorts existing in MMX and I expect covering to be in progress from here on.

MMX is in a triangle in the 6 months daily chart. I expect it to break out and today's action shows the breakout to be on the upside.IMHO,DYOR




-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Wednesday, November 10, 2010 - 11:39 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



MMX has been in a down trend for some time. Yesterday's volume was hugh compared to other days. Could it be the large holder baling out all together and we have seen the last of it?. Look like a selling exhaustion to me.Yesterday MMX black candlestick finished with a long kangaroo tail.
The selling in the last few days could be caused by the margin lender no longer lending against the stock, causing many to bail out to repay the margin.We now have the true believers and hard core left. Almost all iron ore stocks have gone up bar a few.
Normally we say don't catch a falling knife, but is this exhaustion?.






-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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peterloh
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Wednesday, November 10, 2010 - 03:17 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Doesn't look like the bottom yet.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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gdd3
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Thursday, November 11, 2010 - 05:24 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Peter,

"Doesn't look like the bottom yet."...You're starting to sound like a "Broker"; trying to get 'small fry' to handover their holdings to the bigger players by saying such statements....ha!ha! Besides, you know that Brokers mostly get it wrong!

Seriously, I bet you wished you had just stuck with your earlier post(it had more substance than the last 'emotive'???one) and could now say...

"Looks like a bottom to me now!"

Fortunately, (1)I had only read your first posting yesterday and bought in at $1.17, and (2) Wah Nam's ambitious bid today for BRM and FRS sparking interest across the board for Iron Ore hopefuls....MMX up 20%, IOH up 14.5%, GRR up 9%, MGX up 6.5%, GBG up 6% and BCI up 5.5%.

So thanks, Peter....

Cheers
Dolphin }

(Message edited by gdd3 on November 11, 2010)







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peterloh
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Thursday, November 11, 2010 - 09:28 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Dolphin, may I revised my statement. Yesterday increased volume confirmed that the final round of sellers gave up.I still called it the exhaustion of sellers.Had I held on 10 minutes longer this morning it was a different of 5 cool grand to me.MMX at this level is indeed a target for the rich resource it had at JackHill.The lone Japanese corporation which is with MMX is lacking in oomp. We need the Chinese to get things moving.They can supply the finance,technical know how etc and we will supply the dirt for them to dig out.

Glad I am of service to you.
We call it evens, dolphin, you alert me that I should do some short term which has already given me outstanding results.Thank you.


-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.

The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.

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