The best thing u can hope is a bounce. MTX was always a story of it following the markets. I'm not sure what strategy u going to follow. but u need to get out of it ASAP. I sold everything in the middle of August.
topix 100% correct unless you want to hold until kingdom come. you hear it all the time, its to late to get rid of these as i will have to sell at huge loss. The one lesson and if its the only one you learn this year is to cut your losses before they become a huge loss, make no mistake i done the same thing, but i have learnt from it.
For people that are so fond or THE DETAILED FORECAST the "CONSENSUS" MARKS IT AS A "BUY! " and Standard marks it as a HOLD....After an Alert some time back i sold out.In only my opinion i do think this share will come back.I think there is something about the Congo operations that we are not being exactly updated on.
Ever heard of the trading term "Don't catch falling knifes" - Very suitable for this share. Like I mentioned before - It's a speculators wet dream. I'll definitely be looking at getting some MTX once the following pre requisitions are met: The stock stops falling. If it bounces make sure it's not a dead cat bounce - it needs to consolidate for a few days, weeks and form support before it starts moving up. I will then start watching the copper price very closely as to get a low risk entry point. Until then, all you guys not believing in stop losses, keep pulling those long arm bandits. Adios.
(why i sold my mtx). as the rand gets stronger the share will go down. if the copper goes below $3900t mtx share will go up. they into a contract that end sep 2010 to sell for $3900t. if copper goes up mtx shares go down
Check the news on Bloomberg => Metorex Auditor Says Deal Is Needed to Secure Future => Metorex downgraded to "sell" at Deutsche Bank (also at standard bank) also listen to the webcast on the mtx site, at the moment they do not have enough cash to make their debt payment in Dec 09. No way that they can restructure or raise further debt to fund => possibility of more equity most likely via a placing with Chinese investors => share value is pricing in future earnings dilution.
they have already sold off the crown jewels! Nothing of value left to sell that will get them out of this hole. I am a bit dissapointed here, since I have been trying for a while to find out if they still had finance shortages. It wasn't openly disclosed. It was the reason I baled out of this stock some time ago - and i tell you I wasn't so keen to sell then!