MTX - Looks like we are going to be giving back all of the last days profits

[djw]

Will MTX go back to 320c again. Is this the reverse Head and shoulder?

[kwagga]

Yes, like I mentioned on Tuesday, I wouldn't touch MTX unless it closes above the next resistance level R4.00 and then sell before the next resistance level R4.80. This share has become a speculator's wet dream. This is a share where those that know the market pick those that don't clean.

[KVW]

I do not really understand how some people reach their conclusions, look at the prive graph, 6 month trend is up. Why speculate? Sometimes I think people get a little too technical, keep it simple. Use the info trade the price (trend). I still believe that MTX is undervalued, it should be trading with a PE of around 5 as it lagging behind the rest of the base metal share. ARM, KIO. MTX has just had it's name run through the mud but the exec. team is doing well and making good decisions. Once they have their plant running their production is going to fly and they will be filling the warehouses. OMO. Be patient.

[#4]

KVW, agree with your medium/long term view. If you a day/few day trader your targets are different. entry was 15 July @292 exit @325 (happend 24 July) next entry (no short avail) was @310 on 30 july and exit was @370 (yesterday for me) in each case 8% gain. Enough to be safe and not greedy enough to be caught out.

[kwagga]

KVW - Problem is you're going to be at the mercy of speculators for quite a while on this one. Not so in the case of something like Old Mutual. Old mutual could have just as easily become a spec share at R4 something, but it didn't because major institutions saw value and bought. That took the share to the current fair value in a short few months. MTX is a punters dream, and institutions won't commit to this share like this unless the risk on fundamentals has subsided to acceptable levels. I agree that this share could explode in future, but for the time being it's a bit of a Venus fly trap.

[KVW]

kwagga, I agree with you in terms of a trader, but this is not really a trading share as it's a yoyo, which a trader wants but if I had to trade I would rather be looking at Gold. Gold is a good trading medium. Investment, MTX is a good fella, 500% in the next 36 months.

[KVW]

Look what happened a trader could have made a quick 6% in a mater of an hour. The joys and opertunities of the market, you got to love it.

[akashmaha]

Anyones stop loss triggered in the last hour, bad feeling------------------------i guess, the power of the market--------

[dbm]

Just enjoy the ride

[barry_1]

I'm holding and buying MTX at the lows and i think any price below R4.00 is cheap.The copper price has taken off and is in an upward trend....It might take a couple of years ,but i really think this share can rise to its former heights around R16 at least.

[KVW]

Agree with you barry. The only way that this share can go in the next year is up weather it be 10% or 500% it will go up, it has to recover to some sort of teen value

[GarethJ]

There are a couple of resource shares like MTX, EPS, AQP which I've bought for the long term - ultimately expecting several fold increase over time. What I still can't decide is whether it's better to just buy and hold regardless of volatile price fluctuations, or whether one should zig-zag up with a repeated buy/sell trading pattern. Methinks the latter...

[#13]

You have to work in the costs to see if it is worth the trade of zigzags. If not hold for your long term goals or sell with your short term exit in place.