MSC - Minerals Corp - Technical trade

[sam76]

morning Tech,

lol, I did speak to both my brokers (they didn't want me to purchase in the first place) - I just liked what MSC had to offer.

Jumped in at 7.5, limped out at 6 (yes, I missed yesterdays announcement! )

I still think perhaps long term with this one, but at the momemt my money is better used somewhere else, and I get to use it against some of the winners i've had. (TRG $3.40 in $14.60 out )

SAying that, I wish all currently holding the best of luck

Sam

 

[RichKid]

Rich

Just having a look your "Technical trade" is and has been dead for a while.

Think its also Fundamentally dead as well---thats what the market is currently saying.

Nothing wrong with a dead trade as long as people dont continue to look and somehow find positives as it continues to fall.

Lookforward to your next find.

tech

Hi Tech,
Yep, it's a dud now. I check the web for broker reports etc to find good fundamental candidates and then check out the TA pattern. Obviously the directors have fooled us all, they are now going to various other ventures so it might suggest they have lost faith in Skardon River Kaolin. Someone on another forum had a great post examining the mgmt forecasts and figure fiddling, that was the first bad word I'd heard about it.
My trade resulted in a miniscule profit and it lasted about two weeks, a waste but at least not a loss. I traded the options MSCO. Maybe I should have closed this thread once I finished it, didn't really post every step I took in the thread.

Hopefully the next choice will be better! Might find a safer pattern, that saucer pattern thread may need a kick along, hard to get genuine candidates though. See my Patrick's thread for another trade where I nearly stuffed up, the current price action has saved me as I've managed to bring my stop up to make a small profit. My earlier trade plan didn't have a strategy to move stops up ASAP (well it did but I didn't follow it!), now it does for sure, it's thanks to you, the many dollars I've lost and some of the books I've been reading- they all add up to give me a much needed wake up call. PRK thread: https://www.aussiestockforums.com/forums/showthread.php?t=1364&page=3

 

[RichKid]

Just closing this thread now as it's gone off the specific topic it started on.
I'll open a new general thread on MSC/MSCO here: https://www.aussiestockforums.com/forums/showthread.php?p=14018#post14018