next quarterly, page-7

Well Smity,

I have recently bought in.

The 1.5cent support line had commenced formation on the 18/06/10.

It hit that support line on 6 occassions up untilthe 27/08.
After confirmation of support it just needed other indicators to align to offer entry point.

We had an entry candle on the 02/09 with a few other technical indicators coming in play. Macd cross, moving average cross and also momentum cross all within 3 days of each other.

MACD since has traded above the zero line but has fallen back from 16/09. MACD cross over occurred again on the 30/09

Not only that but MLI also had a few days of some half decent volume.

That to me set the alarm bells ringing that there could be some subtle accumulation taking place.

Considering that asset value alone equals 10 cents per share, fundamentally this offers good value.

I'm not overly interested in that though, i'm more interested in what the tech indicators tell me.

The other thing after having a scan over the report, top 20 shareholders hold 86% so stock is tightly held. That may also answer why there has not been much volume traded.

momentum at the moment is heading in the right direction, will be interesting to see if this continues, will also be interesting to see if the volume does pick up soon....

Cheers