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Online Share Trading

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MRF

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KVW
Super Contributor
Today it is sitting at a critical point, lots of buyers and two high volume sellers......UP or DOWN?
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24 REPLIES 24
Russ
Super Contributor
Less than 4 months ago it was at 434.Now at 100.Who would have believed it?
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Not applicable
I am treating 100 as major support - and holding my breath
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hs
Regular Contributor
Buy. This share is going to rise again.
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KVW
Super Contributor
People have lost a lot on this one but at these levels in a month or two you could see a nice 30-50% recovery, there will of course be a big sell off if it does bounce. I got in at 100 with quite a bit, going to either break or make me.
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Russ
Super Contributor
This was my best share.I originally got in at about 73c and got in and out several times on the way up. I wonder if that process will ever repeat itself? Maybe I'll wait for 73c again and pile in!
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KVW
Super Contributor
See articale published today.....very intresting and their financials are due early next year where thaey are expecting >100% once again even with the lower Ferrochrome prices. Yes this is a share that has taken a beating but if you compare it to WEZ, where they do not have income generating operations you wonder why people are putting money there and not here. Also same happened with PAN, where their share price dropped from 300 to 55, but they are very small scaled gold miners. MRF is serious going to make alot of pacient people rich as it has done before. www.miningmx.com/mining_fin/437589.htm
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barry_1
Super Contributor
see what Rudi vd Merwe says,under my last post about MRF,worth reading.
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Not applicable
I picked up a few the other day. Their forward P/E is one of the lowest on the market - about 2. But keep some cash in hand, to buy more if if falls even further.
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SimonPB
Valued Contributor
tis going down ill it isn't, take the chart and ask the nearest six year old for for direction. they will give you an unbiased view - down.
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Russ
Super Contributor
One does have to ask why there are still big sellers around at what seems like a low price?Either they know something we don't or they are desperate for cash.Or just panicky?
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SimonPB
Valued Contributor
or disciplined traders exiting when their stop is hit ?
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scandal
Super Contributor
so true @ Simon, but then again one persons stop is another persons entry ... Looking at their financial report this is a good price to get in (with a stop loss of course)..
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Russ
Super Contributor
Hehe,just phoned my 6 year old nephew.He says all the okes in his class are selling mrf.
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platsak
Super Contributor
Heard there was huge leveraged positions from the dealsteam clientele which had to be unwound.
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scandal
Super Contributor
maybe that explains the volumes on the sell side.. also foreign currency investors who have taken a beating might be unwinding their positions... should pick up once dollar starts to lose some steam (when china starts selling the currency off hehehe)OMHO
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Russ
Super Contributor
It's an interesting little battle at 100 anyway.Any predictions on the closing price today?
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scandal
Super Contributor
will be up... and the last trade of the day will be some large volume like 1M plus...
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kwagga
Super Contributor
Definitely strong support and resistance at 0c, but I bet even at 0c you will still have individuals trying to give mouth to mouth to a rotten carcass. Why people stick to old winners like ***** to a blankly just goes beyond me.
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