+1000. I'd love to show a screen shot of my account on yesterday's ASX action.... but showing $ figures is just not kosha.
Hi guys I am looking to get into a few silver stocks on the ASX, but I am quite new to stock market investing. The two companies that look ok to me are South32 and Manuka Resources. South32 have the biggest silver mine in Australia and Manuka Resources are about to become the biggest silver producer in Australia so I think they both make sense. Any other shares I should look at before pulling the trigger? Or are S32 and MKR bad choices?
It's trending down. Not good to buy stocks that are falling IMO. The trend is your friend, of course until it isn't. If I was going to buy I'd wait until the daily/weekly charts are showing an upward trend in the 0.28 - 0.34c range. And that's not even looking at the quality of management or any other fundamentals.
On what planet does a bank short a junior nobody-miner? Manuka mines gold/silver. Gold/Silver is down. SP is following. Simples.
Yeah you are probably right. I was just curious why at the end of every day I was watching it someone was selling enough to send it negative or neutral for the day. I'm quite new to the stock market so I hadn't seen the bots and other things on there before.
Well sure, but the reality is anyone with a simple brain can look at charting software ,or online charts and look at a trend. That doesn't make a person able to choose a worthy investment. For instance MKR is not going to hit 0.28 to 0.34 in the near future due to the silver squeeze. So if I waited for such a price I could not take advantage of any silversqueeze movement. Does it matter if I bought at 0.38 or 0.42 if it is $5 in 3 months? Not really.
If it's trending down then there's a reason, whether it's justifiable or not is the reason you look at the fundamentals. It may do. When you buy shares in growth stocks you're buying in the present at a discount of what you perceive its future value to be based upon information that is available in the present. So yes 38c or 42c may be too much for a company based on the information available at the time when compared to the SP of other companies. How do you know MKR is going from a MC of just over $100 million to a MC of $1.2 billion in 3 months?
Only a time traveler could "know" that right? It is my guess that with a higher silver price and them becoming the largest silver producer in Australia that their value will increase significantly. Higher silver price will be caused by the silver squeeze imo. That's all it is. If silver is worth $300 AUD in a couple months they will have a very decent asset, as will a couple others. And if silver moons like that then obviously everything that touches silver, especially the biggest players in Australia, will see significant growth.
There is more chance of me becoming PM in a leadership spill than silver hitting $300/Oz in the next three months.
And it may not stop there. Looking at the 22c level at the moment. Let's hope he just stuck with S32.
Wowzer... I guess this where that combination of "I'm new to the stock market" mixed with 'junior silver miners' just never ends well...
its increasingly dangerous when your investors are well equiped with tanks busters, they can take aim at your living room lol just like 007 movies
A little bit of an uptrend today for Manuka, if it busts above 30c tomorrow then there may be a hint of a reversal. I haven't done any research on the company itself.
Small green candle today again for Manuka, tiny wick top and bottom. Could suggest a pause or reversal.
And down she goes with most of the rest of the world. My suggested buy-in range remains the same unless it breaks through support at the 0.22c level then we just have to wait for a bottom and for a correction to work out what the new price range would likely be. Remember, I haven't done any fundamentals on this company and I'm not interested in buying it either.
