She's right too, Arsenic. "IF" you know there's going to be strong volatility, work it. except that is one very big IF for the retail investor, er sorry, punter.
I'd back your approach any day though; take a long ride but hold your nerve because with MLX there will be ups and downs.
take trading this week, for instance, done on relatively high volume with heavy turnover particularly Wednesday and Thursday.
the SP started this week at a low of 72.5c, then walked a jagged staircase higher until it peaked at 82.7c on Thursday, after the Nifty copper hedging statement was issued.
then, as though someone programmed a buy rumour sell fact demonstration, it stepped down and looks like closing Friday at 79c. and this after an announcement that locked in a goodly proportion of this fiscal year's expected income from expanded production at Nifty, which I took as a positive.
an interesting trading pattern to be sure, and one that would be well worth remembering.
it's obviously leaky boat stuff.
instos had a field day and made a motzah from MLX this week. the volume of shares traded was way in excess of any likely retail turnover with the presence of one or more bots only underscoring the fact that the big boys were at work and play.
what incredible luck for them that they should play this week. by chance? I doubt it.
knowing this, buying on weakness ahead of the upcoming reserve upgrade for nifty could prove beneficial.
MLX Price at posting:
79.0¢ Sentiment: Buy Disclosure: Not Held
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