In T+4 I would expect a lot of covering to explain yesterday's...

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ckchristian

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24/06/16

11:55

Post #: 18111557
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Originally posted by downsyde ↑

I really don't know what this is. It's not retail as the volume is a little too high, plus retail do not buy when the SP has plummetted as generally they are too scared. IMO this is some pros buying the fear, so I'm joining them, will see how this plays out over the next few weeks. Probably not going to be a bagger in that time, but perhaps some nice gains to be had. Perhaps MRM really have dug themselves out of the hole and can cover debt (with new debt covenants) and are thus as they have been saying for some time, well placed to capitalise on the forthcoming rebound in E&D, there are some significant contracts coming up, and some maintenance work and what not, the more LNG cargoes I see shipping out the more i think cash will be coming in and new contracts will be being signed.

There's been a good deal of robust discussion here about possible CR's and the like, also about the SSH notice. The shorters may have underestimated the floating shares that can be bought and sold given the recent SSH notice should have been lodged in December last year which has probably thrown out their calculations a little, so it could just be the shorts covering, in which case they don't see much more downside (or downside with enough volume) which is again a positive for the company.

Anyway im back swimming against the tide here on MMA, toot toot.

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In T+4 I would expect a lot of covering to explain yesterday's trading.

MRM Price at posting: 32.0¢ Sentiment: Buy Disclosure: Held
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In T+4 I would expect a lot of covering to explain yesterday's...

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