pintohooAs to being right or wrong is not the point, except on...

pintohoo

As to being right or wrong is not the point, except on timing. For what its worth I'll state the following:

1) I consider FML to be a potential valid future long term investment
2) Currently I consider FML to me a marginal short term investment
4) Many FML investors do not apparently have a clue what they are doing. Many are somewhat 'precious'.
5) FML remains highly speculative ie contains a risk premium.
6) FML (probably) may or may not produce very good long term returns
7) The short term share price is driven by sentiment rather than fundamentals.
8) There are several posters whom preach as if they 'know, the future of FML. Nobody does, its just probabilities.
9)Use your eyes not your ears, the sp is trending down ie a retrace.
10) The market is always right, in the short term, even when it is not.
11) I consider the next resistance point to be 8.1. If it breaks under 8 the 7 may be the new 5 rather than 8.
12) FML is still too immature to be a core holding, at the current price, although may soon get there.
13) Most of the previous sp fizz was more related to TI, rather than The Mount and open pit, both of which I consider to have more value, until proven otherwise.
14) The short term and long term are both valid 'investment' approaches. imho the short term approach is currently more valid for FML. This will continue to be the case until proven otherwise.
15) Nothing much envisaged to change FML sentiment in the short term ie a few weeks until TI and QR (high cash costs?)
16) Poor TI drill results may cause a significant drop in the sp. Being a quartz vein makes a widespread orebody not anywhere near a certainty(so I'm told), despite the outcrop samples.
17) A good TI drill result I'd regard as a potential selling opportunity.
18) Don and the boys are good guys. They were also good guys when the sp fell from 14cps to well under 4cps. FML was lucky to survive the GFC. Some things are often out of the hands of management.
19) FML's cash costs are too high. I'll be more comfortable when/if they are sub 800.
20) A high cost producer such as FML will be heavily sold down if a large drop in pog eventuates. Possible in the short term, given current trend.
21) until a SC is done and dusted FML will remain a traders plaything. It would be like telling a cat not to play with a mouse.
22) In the modern market the myth still persists that "time in the market" will produce the best result. Wrong, "market timing" is everything.
23) People state that they have never met a rich Technical Anayst. Maybe so, however, I've met many a poor Fundamental Analyst still waiting for his boat to come in.

PS a reformed Fundamentalist is similar to a reformed ex smoker. As you probably noted I still do take some note of FA, although now only for the long haul.

PPS I do actually still have a large indirect FML holding (avg high 4s, Mrs Satan, the wife - her decision), although currently (repeatedly)exited the approx equal number I trade in my name (Mr Satan). Trading FML has resulted in a free carry of a seven number volume of shares, if I reentered at the current price. Maybe I've just been lucky. TA rules.