Yep all the fund managers have their TA analysts to help them achive quarterly improvements in the funds book value through buying selling and shorting short term.
However they dont look at the long term future as they have to meet their quarterly performance results and are happy with a 5% gain in book value per annum.
Meanwhile a few lads from HC looking at a 2 year time frame can make far greater biannual returns by taking a long term position.
Chart MGXs sp over a two year time frame and see what I mean
I am currently not in last time I got in MGX was around $0.14 about 12 years ago as tailering peak was ramping up and we knew China had demand as all the steel storm covers were being stolen to be melted down on CHina.
io @ 120/t & aud @ 92.x, page-22
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Last
43.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $523.8M | |||
| Open | High | Low | Value | Volume |
| 43.0¢ | 43.5¢ | 42.8¢ | $190.4K | 442.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 376233 | 43.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 43.5¢ | 134354 | 18 |
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| Last trade - 15.41pm 15/07/2024 (20 minute delay) ? |
| MGX (ASX) Chart |