MTM Chart, page-2373

Are we back, or is it false alarm?
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Sorry, I forgot. Those who already know what I am going to write, well done, you have done your homework well. But others sick of my post, use Hot Copper ignore, a good feature.
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From a weekly perspective, MTM had good week after sometime. It moved from 14 to 17.5. So a decent gain. In between it did a new low of this phase at 12.5.
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So what is happening? Its playing in an indecisive state. Overall trend from 30.5 is still down. Week after week. This week was first signs that we may have bottomed at 12.5. Possible, but I am not convinced, yet. We have to have bigger gains, and create supports at higher level. We are not there yet. There was a big jump on Friday, but in the scheme of things, it was nothing we can attribute to, as of now. It may change, as we know more, possibly next week. But at this stage there is a question mark.
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So have we made another mini bottom at 12.5? We still don't know. If one can provide very good/convincing reasons why it has dropped from 30.5 to 12.5 and is now rising, then we can have a think. At this stage, there is nothing big. Even the rise on Friday, it was not on very big volume. We had several more higher volume days in just over a week. So I am holding my opinion on bottom.
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Personally I have been trying to play the pattern. As I wrote earlier, when stocks are going down, and if I want to play mid/long, I sell every week and buy back. But don't buy all. I reduce my average. I reduce my holding. If stocks is not doing well, you can try whatever you want, you will still be a loser. A smaller loser. Best is to play stocks on the rise. Last week I wrote my average was 17.5. I have played out half at break even on Friday, just wanted to reduce the risk. I have a smaller play now, and with some buys at lower level, average is 16.5.
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So what may happen next week? Friday was very good. We need more of that. Maybe someone got excited. Maybe there is good news coming. Maybe it was a trap. We don't know. But we will know more next week. Lets hope its a good one.