What a bloodbath today! MML has a big down day today: 1.59 -8.2% right now. I would recommend to buy a first tranche, this is an ex. billion cap company with excellent results. So if you have any monies left buy 5,000 or 10,000 or whatever suites you. Also these shares usually do a bounce after the big drop anyway, so you can even make a short term profit. However if you hold it for a while, you could be laughing. This is how good money is being made. Sorry I didn't find a topic for MML, so created a new one.
I believe the company's main focus is Philippines. Not the most stable place either, but still... Also you need to have BALLZ in this game, no pain - no gain! I wish I had spare cash, but I'm holding my paper positions with everything I have as it is. Excellent play for the SMSF I believe. Just buy straight shares and you (SS readers) won't regret it.
That might be true, (i wonder why i thought they were in Africa??) But (for me) there is equal reward potential with less risk in other producers You can addd MML to my 400,000 ounce group
Sue me! Dropped more today on their contractor going into receivership. Seriously considering buying it with the money I don't have. This is a mid-tier 3,000 employees company with ridiculous P/E now and profits before the drop.
$1.30 yesterday - Holy sh*t, you watch this mother bounce. It's now at a price where there should be lots of support from 2008, unless there's something we don't know this is cheap.
Ive got a mate who is in an analyst firm and their gold stock analyst loves MML, he says most of the analysts he talks to, own it (or did at least), So expect this stock to have exaggerated bounces. Check the volume and divide it by no. of trades times by average daily share price and you get the average share parcel for that day - will tell if serious money is is being moved or its being the victim of computer trades. example Volume: 6,000,000 Trades: 64,000 Avg Daily Price: $0.823 (6m / 64k) = average parcel size Average parcel size x 0.823 = average parcel cost
So that's interesting.. Parcel size of ~100 shares implies victim of algo trading right? By the way, where do you source the data for number of trades? Not sure if you are aware, but part of the reason for MML's takedown is the Phillipines parliament considering a mining tax. Besides that, apparently MML's mine is on an island with significant rebel presence and loose government control. If gold and the value of the mine rises considerably there is an increased risk of problems from the local insurgents..
Commsec gives me that information on my screen when I call up the ticker symbol I look for bigger pacel sizes, that shows me serious money is changing hands. not just crappy computer trading driving it up or down. I look for big average parcel sizes and direction to tell me real people are moving in or real people moving out looking at volume alone could be a few big trades, or heaps of high frequency trading
Cheers, makes sense. I also like it when I see management buying in as recently happened with SLR. Unfortunately that preceded a drop from 98 to 57.
Not a good day today for MML. Medusa Mining held back by narrow veins in its Philippines mine. Down 19% at one stage. http://www.proactiveinvestors.co.uk...-mining-held-back-by-narrow-veins--58756.html
SLR isn't worth the current share price, whereas with MML there's another $1+ in it before it gets even remotely close to what it's worth.
