also hoping for movement in kzl and a few others which have been sold off. seems to have been fears of a commodity bubble and blowoff over last few weeks china still down.
always the same for me. when kzl and mre were up near $1 last time I wished I held more. this time have accumulated a fair size position (for me at least) in expectation of better times
mind you cant see commodities rebounding strongly in coming weeks but truth is perhaps somewhere in between bubble and bust? nickel had a nice buying spike a week or so again and pleased to see some follow up action now.
mre is one of my favourites and rumours of takeover bids for jml kzl pna mre frs proved true for jml and frs with nice quick movements up for those 2. risk to reward is good that kzl pna mre should slowly rise from here and even perhaps more bids coming up. it is a numbers game for me.
technicals for mre are now closed above stma with momentum up. support 76c. nxt target is 88 to 90c and then $1+. early days though and expecting dow to take us down first but one day at a time for me.
I like these base metal stocks. all mid caps with lots of liquidity. easy to trade. just follow momentum of base metals esp copper and sell when they start down again.
other stocks are perhaps faster but I can trade these fairly safely with volume and some confidence.
I know you trade kzl and hoping for a nice turnaround there once market picks up. buyers are there and new management there may turn things around so a hold for me as well
all the best and hoping for better times for us all
MRE Price at posting:
82.0¢ Sentiment: Hold Disclosure: Held
