Definitely last week or two of June some people take out their losses for tax purposes, so that can explain some selling.
But even without that, watching this go up and down for a while, most of the rises could be attributed to majors buying large quantities on market for a few days.
And outside those times it has fallen steadily even with a decent amount of retail buying.
So can't let the SP off with tax season as the only cause.
Lack of news is really hurting after two large cap raises over the last 8 Months, one done at a low point SP wise, then share consolidation. There needed to be news flow coming in and it has just been a bit too long I think.
Also after copper price was pushing towards a several year high a fortnight ago, today it is hitting it's 6 Month low and continuing to weaken,,, no bounce off previous $3 support.
Most of MOD's previous PFS calculations and broker reports were done at base case $3 to be safe,,, and most people still have a bullish outlook longer term for copper, but it's another thing that won't do us any favours if we get a resource upgrade in the next week or two with updated Base Case, and copper is at like, $2.95 rather than $3.10 or $3.20.
Can all change with the drilling that is going on and growth of T3 since last update there, but it is painful to watch the SP trickle down, and thinking of good news having to push 20 to 30% JUST to recover SP from the slow selloff over the past few Months.
Can't say much more. The mental game of being in the market. Being massively positive on a stock for several reason, analysing the company and it's strategy, placing your orders with care and outlook to the future,,, but then painful times times come and you end up in a situation feeling more like your holding lotto tickets and waiting for your numbers be read out.
MOD Price at posting:
42.0¢ Sentiment: Buy Disclosure: Held
