Looking good

[kwagga]

MTX broke through resistance with some nice upside potential

[Electrox]

was looking great till mid after noon today. then it just slumpd.

[topgun]

check out the Reuters article published today "Shanghai copper limit up, LME hits 2-month peak" Copper for delivery in three months on the London Metal Exchange gained $70 to $7,310, having rallied $340 in the previous session. Prices earlier touched $7,325, the highest since mid-November. Copper has rallied 10 percent in the first week of 2008. "Copper is flying. We are coming out of winter seeing good demand and there is no harm pinning prices back above $8,000." Jonathan Barratt of Commodity Broking Services in Australia said. What more needs to be said??

[Electrox]

topgun, what ur target for MTX in the short term?

[asylum]

needs to break above the R22 resistance level and then onwards to R 23.50 chinese copper inventory quiet low and they have started buying to replenish stocks so dont know how long the price of copper will be on the up, aint no yankee buying any copper at the mo thats for sure.

[topgun]

I am not smart enough to read all these short-term indicators, but MTX is to publish a trading update early Feb iro its Dec. interims. The feasibility study on its Ruashi copper project was robust at prices well below US$4500/ton....now +US$7000/ton and at a stronger Rand. Sound cash generation should commence soon. Their stated strategic intent is to develop into a mid-level resources player. Lots of corporate activity is fleshing out this vision. I bought into MTX on this basis, given management's past track record,at below 700 cps 24 months ago and am holding for significant further medium-term upside.

[kwagga]

What a drop - went like a knife through butter through my 10% stop loss. Int investors hammering this share after 15:30 every single day. I must say, this did hurt like hell.

[Mr_Bean]

Geez, what the heck happened? I got in at R19.85, looking for a nice bounce on news of a higher copper price, and a run in the commodities....then suddenly the damn thing tanks! Still holding on as I believe there would be a short term run to R22.00, RSI and Sto look a bit oversold. No demand from Yanks is my main worry, so I will not hang on to this one for too long - Exit R21.50 - R22.00. How about Gijima - doubled up at 90c today, expecting a short run to around R1.06, go you girl go.

[asylum]

Hi Mr Bean just be careful we tested 28000 support on the all share index and actually went through that support and i think with a couple of more bad days comming on the Dow we could easily test the next support line of 25 985 on the all share index.omo

[kwagga]

Must agree with Asylum. Be very careful Mr Bean. This market takes no prisoners. If you're not disciplined in your trading strategy you will become a statistic. Do not ignore a stop loss and do not expect this market to recover in a few months either. I always feared the day when foreign investors start selling this market, and I think it started. Second in line are the pennies, and they can really tank due to small time local boys selling at any cost in a panic. Trade at your own risk.

[Mr_Bean]

Thanks forthe advice, I think \i will listen this time, probably exit on Monday if it drops below R18.30. I think entry into golds, possibly DRD, Harmony is the right thing this year. Any comments?

[asylum]

Yep Mr Bean seems everyone jumping on that band wagon, just need to know when to get in now thats the tricky part.