chart, page-58

Hi Roca, -The way I read those squiggles and dots is....I guess we were in a very nice consolidation period after a huge move up, and felt quite comfortable having a nice uptrend line intact and an oversubscribed placement price and gap below us - these things usually mean un fulfilled buyers at those spots.

Either someone or many someones didn't like the break in the uptrend, or the council delay or the director resignation - (or prob all three) and started selling to cash in their profits. They could have done it gently but decided to crash it through support with enough shove to trigger a selling frenzy - Everyone screaming whats happening as they run for the exits together. Even longer holders like me usually have some part of their holdings with a stop-loss and these are triggered adding to the carnage.

During all this big volume buyers soaked it up while letting it fall as far as it could but just too many buyers at the gap so it ran out of steam.

Now the market will want to know if that support they saw around 90c was real or some may see the price on the weekend and get a fresh panic attack and the buyers will need to show they are on top of it on Mon and that the bottom is in.

If it holds all those who sold but really do want to own MHM and just had a bit of a spell will rebuy and drive us north again. I re-bought some between 90-93. Expect resistance now at $1 as it was support but I reckon there was and is a lot of money in the market wanting a slice of MHM sub $1 so think we will blast right through back to where we were $1.08.

I know all these things because Russell Smith told me :-)