We want a slow, sustained build and a healthy market ebb and flow - it's more reflective of true quality, backed by real fundamentals - not hype.
99% of those stocks fizzle within days and end up where they started with even less volume running through them than they had before the pump. And they leave punters shell-shocked wondering where all their cash just went.
MEM is not one of those play things and it could never get the volume to be one in any case cos top 50 own almost everything. And aren't selling.
IMO, she is behaving exactly how we want her to. You just have to add patience to the equation. The key is to not get disappointed if and when she retraces, just as long as she does it in the right way with the aligning volume. And she totally has IMO.
If you check on past posts, after the initial 10c breach and run to 12c, I said I'd prefer her to retrace and fill the gap at 9.5c. I didn't know for sure if she would, but wanted/half-expected it to because stocks, especially good stocks, will naturally (or ARTIFICIALLY) gravitate that way.
I own a fair few MEM, so imagine me actually preferring to lose tens of thousands on paper.
I'm no gun, but have lost more cash than I care to think about and have hopefully learned from those experiences. Dudes, DO NOT go all in on any wild cat oil drills off the coast of Vietnam no matter how encouraging the initial shows are - ever.
Also said if she did fill the gap, I thought she'd bounce after. Went lower than I thought and pushed right through 9.5c, but on seriously fark all volume (where they stole punters shares on fear), but then she did bounce.....and HARD.
Similarly, 13c was a total bitch to get through - took some serious volume and a few attempts to smash. Again, SP, especially in floating, no-news period will gravitate towards resistance points after a rise. And to give the market more confidence for the next leg up, we really want it to retrace and test the strength of that support at the previous resistance level.
And check how hard they're testing it. It's getting a good nudge. SWEET.
MEM has played so true and beautifully, both traders and short and medium and long termers should all be stoked. Wish I had the time to take advantage of that recent action with a sneaky trading parcel, but I don't. Got a biz to look after and I am 100% secure in my investment here. Bullish even.
The TA is perfectly set up for the FA IMO. And if there have been no delays WOW. And imagine if there's a sneaky unexpected - oh and BTW - COP THIS - in the next announcement.
Punters on HC tend to use the term coiled spring a lot. This is totally that.
Just remember that traders and investers will enter and exit each with their own budgets and investment agenda and time lines.
MEM will go on if she deserves to. And there's nothing to date to suggest she won't. Quite the opposite in fact IMO.
Still the best stock on the ASX for mine. And I did sell some other ones to load up BTW. Buying at 2c and then again at 13-14c is crazy sh1t.
As an aside, although I refer to most stocks as SHE, it's interesting I refer to MEM as a her, you know, given what she is all about.
But I picture MEM as a chick and a dude whom are both deadset geniuses, who could not fall pregnant, had heaps of mates who could couldn't either, and a sh1tload of pets and livestock who were also struggling,.....and said fark that - I'll find a solution.
Awesome HCgreggy. Solid. Very, very thorough of you. Way better and more encouraging than my chick-dude-pet-livestock anecdote. Cheers for sharing.
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