MFE 0.00% 1.0¢ magnetite mines limited

closing sp, page-2

  1. 2,916 Posts.
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    Does it really matter Yorick? Who knows.

    On my technicals, I can't see anymore downside. My best guess would be a break of $0.40 in next few days, and on my charts a short term move to $0.47.

    I say this on the basis of the declining trend line which ROY broke through on its way up, and which now is providing the support.

    Trend is still up. I still feel it was clearly oversold on unjustifiable panic, and now has to gain its confidence again. Fundamentally the news can't be better IMO.

    Today - I'll say $0.375. Monday, $0.38, Tuesday, $0.42 (on volume) in a week or 10 days, $0.47.

    But who the heck knows, and I certainly wont be saying "I told you so."


    General market looks fin for next couple of months at least.

    I note that Colin Twiggs said his crash prediction will fail of s+p 500 breaks 1500. 1507 close last night.


    Chill.


 
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