MRX 0.00% 0.7¢ matrix metals limited

covered all shorts and slightly bullish

  1. 13,576 Posts.
    My fellow traders....it was a very interesting week....covered all shorts took ...4 hours...obviously to get the best price and to limit losses....didnt get hurt too bad...250k....

    My reasons for covering my shorts was that....after days of analysis..on the broadening formation....i concluded that the dow might be breaking out on the upside...and heading towards 15000....again a little confused......but i have become slightly bullish......

    Now on mrx.......with conflict of interest put aside, i can now comment on mrx.......whilst i had my mega short positions out in the market....i kept a close eye on mrx and could see a formation that could be very profitable in the short term....a rounding bottom with a very powerful swing point of .17 has me convinced that mrx will make its way back to that level before breaking out......the measurement is .16cents....thats the minimum....or atleast expected....usually stocks tend to overshoot...especially ones that have been forming rounding bottoms for years.....
    once mrx breaks .17 it will be on for young and old....with volume that has become.....absolutely light....we can expect in a few days a re-test of .17cents...

    Im opened to all questions......fire away
 
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