no one can tell u what to do,but what i would do is put half of what u still have in some thing that is growing,say like TOPSKB or eastplats,which seems to be moving up. go to MRF archives and see all previous posts then decide.really only my opinion!
Well you could loose everything if it really crashes or even gets to a point of de-listing etc. Anything could happen. Capital preservation is key unless you prepared to hold long term and if it does not recover how long do you hold?
i got out on my stop loss at 140c. from what i can see now - Probably the best move ever. Get out while you can use your capital elsewhere. Go look at the comments on the MRF forum. this share is going down, down, down...
I agree, Edge. I feel the market is looking for some news to give this share direction. The only ganble being if the news is good or not. It should be that they are firing up more furnaces or that there is a good increase in the price of ferrcchrome for the next quarter.
Hi Mikki- i found this on the net---- Ferrochrome prices at record levels - Merafe Resources Friday, 13 Nov 2009 Mining Weekly reported that, while the European benchmark third quarter ferrochrome prices scaled a new peak at USD 2.05 per pound, producer of the stainless steel ingredient Merafe Resources' share price fell on market expectations of a steeper hike. Merafe Resources, which has a ferrochrome JV with Xstrata, said that the material's price had increased by 6.7% for the third quarter of 2008 to a record USD 2.05 per pound. Mr Willem Venter analyst at Prescient Securities said that the drop in Merafe's share price could be because the market had been hoping for a bigger price increase. He added that "The market is in a physical deficit worldwide." Merafe said on March 3rd 2009 that the price of ferrochrome was due for northward movement this year. Mr Stuart Elliot finance and new business director of Merafe said that "We won't give you absolute prices forecasts, but what we can say is that the current contract price is at USD 1.21 per pound and the spot price is at USD 2 per pound and that that gap will be narrowing." (Sourced from www.miningweekly.com)
Local price is still depressed, but Dow Industrial Metals Index is raising again, 0.4 percent yesterday and all indicators show imminent growth. MAV 50 and 200 on that chart are all pointing up, as well as Resi, Signal line, stoki etc.The decline is not particular to MRF, others like HVL have done the same and rising already. MTX is in the similar position as well. Its a worldwide situation so hold on, you shall soon be rewarded!