GMC 0.00% 0.6¢ gulf manganese corporation limited

W3hunter I love your pip squeezing style. You remind me of a...

  1. 231 Posts.
    W3hunter I love your pip squeezing style. You remind me of a mate thats a broker and works from home. I am guessing your bid is in at 1.8c. I assume that because @ 1.8c the first order in the que is for $45K and I have a feeling the last one of $55K is yours too. The other small orders are the ones wanting to hold just hoping to get lucky at 1.8.

    The price was obvious after lunch that it wouldn't drop below 2. Like you I have been watching this chess match closely and saw the 1.7 bids get pulled today and pushed into the 1.8s, a substantial bid close to the $55K in our example below

    That 45 + 55 order is a solid indication to me someone with knowledge knows this is not going to drop further than support.

    The reason for volume drop of recent is because the market yesterday rode the other bull that hit 100%, that tin related one, remember?..I was on that.

    GMC is waiting its turn for the market to ride it too like your post said "if it is bullish I'm in" That can be today, tomorrow or Monday (could be all three combined who knows) but when GMC gets the volume coming we know it is running hard and fast.

    Don't get me wrong W3hunter I like riding the bulls and the bears too but bearish talk for gain isn't my style. but with a small chance 45k squeezing through throwing a few candles and triangles and the old fibi thingo at the crowd I can see ones motive.

    My understanding of the T/A is this:
    1.8 is pretty solid support, but GMC closed on 2c yesterday. If sp closed under 1.9 we may of had issues but it didn't so the chart looks good without all the candles and lines.

    A big volume split going through chi-x today (fluctuations of 30%-40%) in comparison to asx & over the past 3 days but yesterday and the day before was substantially different. Brokers are buying up big for many reasons, especially yesterday, why? (Apart from the potential mcap)

    traders that bought on open had to pay up yesterday so the brokers moved in to pick up the bargains. Slowly bringing the price down to 2c (selling in the morning/accumulating in the arvo)

    T2 traders will be in again today and will need to pay up Monday driving a solid sp through to the close on Friday.

    The volumes imo will push sp forward to test 2.4 & 2.6 if sp holds then 3 will be tested.

    Now The F/A
    Hamish will be back next week from Kupang and I don't think he will return just with his hands in his pockets, Ann will be made boom


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    Last edited by Red Tempura: 18/08/16
 
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