MML - MEDUSA MINING LIMITED

[wagalucci]

Thank you Arty, your skills with graphs is impressive!. To me the trend from Jan has been upwards and "IF" I was a betting man I would dare think that this trend would continue for at least 6 months. Sure the profit margin might not be as much as if one purchased 12 months ago, but a profit nevertheless.

 

Having said that might just go with gut feeling and get a small parcel and see where it leads in 12 months time.

 

Once again thanks Arty for your "graphic intepretation"

 

Wags

[mosaic1996]

g'day wags,

 

It is very common for there to be virtually no discussion on some of the best performing stocks. MML is not an isolated example.

 

My theory is as follows:

a) long-term trend jockeys make enough money to go out and enjoy themselves

b) those riding the best stocks don't need the reassurance of others - smug bastards

c) forums are frequented by short-term traders that feel obligated to take profits. Many traders are reluctant to get back in at a higher price, and hence abandon some of the best stocks.

d) forums are also frequented by those that need reassurance about the real worth of stocks that head south.

 

Irrespective of the validity of my theory/explaination, it is a fact that there is very little discussion on the many of the best performing stocks.

 

Cheers,

Mosaic

[chum1155]

Hi Arty

Happenned to be reading the MML thread - in reply to Flower's suggestions on the gold thread about prospective Gold stocks - and stumbled upon your posting. I was interested in your comment about volume:

"But as I filter for a minimum daily turnover of $500K, it fell through the cracks."

I realise that this may not be the appropriate thread but if time allows could you please elaborate. Surely if you filter on this basis you are missing on many potentially lucrative trading opportunities.

Regards Chum

[gatsby321]

I own MMl and they seem to be very cheap. Their cost of gold is one of the lowest. Anyone have view as to why they trade so poorly

[arty]

MML seems to have graduated to a serious, and strongly traded, miner.

As the chart shows, we're approaching a similar setup to the one in February.

MACD Divergence has also switched from Bearish to Bullish, which suggests the consolidation phase may be about to end.

I'll set an alert for a break above the High on 5/08. Assuming the volume remains strong, upside needn't be limited by May's $4.89.

 

Shall we wait for the FY Accounts to be published? Promised for 31st August?

Or is it better to buy the expectation (undeniably uppish) and see how well it matches the fact?

 

PS for Chum: sorry I missed your Q in March. What I meant by that is, I ignore shares that don't trade consistently above $500K because if I hold a parcel - even $10K worth - and want/ have to offload it in a hurry, I want to be sure I can do so without "moving the market". Sure, I do miss a few highly profitable entries - MML definitely fits the bill; but I also avoid being stuck with a once promising stock that nobody wants to take anywhere near my trailing stop level, causing me worries and a greater, unstoppable loss than I bargained for.

[flower]

Hi gatsby---why indeed?

 

Taking the period since May, my gold watch list has some 22 stocks which are up considerably, some doubling, what I have just noticed that in that period of time Gold in AUD is down quite markedly--so is that the connection?

 

enclosed chart of Gold in AUD over MML.

[arty]

Hi Gatsby,

 

Compare my chart of MML to the S&P All Ordinary Gold index. You may also check the timing of some "political" interference:

• doubts whether the mining tax will/won't apply to gold?
• corrective action - or was it?
• clarification - for how long?

There will probably be quite a few "coincidences" - but IMHO neither can be applied as a broad-brush explanation.

MML operates in the Philippines, meaning none of the resources rent tax that may or may not hit our miners is likely to apply. The only lingering doubt that would cause Joe Blow to think twice is MML is an Australian Resources company, and as long as we have the legislative risk hanging over our heads, foreigners will think twice before investing in an Australia-based mining company. Sad, but the most likely caveat.

[arty]

upside needn't be limited by May's $4.89.

It sure wasn't

 

On the larger scale, MML has retraced to 50% Fib and broken back above 100%. That gives me a target of 200% or just above $7.

Of course MML may fool all of us and take a tumble when gold itself gets sold off; that's why I'll keep watching my trailing stop, which is currently just above $5. Good luck to all holders.

[wagalucci]

Arty, 12 months later..... who would have imagined???

 

W

[arty]

... and 6 months after that

 

It's those gaps that irritate me and kept me out recently.

Today it's hit old (all-time?) resistance, which may take some effort to break through.

I'm currently just an "innocent bystander"; were I to hold, I'd average up as soon as the current resistance were broken.

(Read up on Darvas Boxes, if you're wondering.)

 

On the weekly scale, the 2010 range 0-100-50-200 seems to have been completed and, after the last 3 months hovering around the 200% target, Medusa appears to move to the next level. Great as a long-term hold.