BML 4.35% 12.0¢ boab metals limited

So I am trying to make money, like everyone else, so that part...

  1. 2,519 Posts.
    lightbulb Created with Sketch. 435
    So I am trying to make money, like everyone else, so that part is indisputable - traders add liquidity so the market functions.

    But its hardly at everyone else's expense, because I simply post my POV using facts and TA data which are substantially true. Nothing about the milestones the company has missed is a non fact. Nothing about price momentum being to the downside for months is a non fact. Nothing about support levels being at risk is a non fact. Nothing about it still being in a technical bear market is a non fact.

    Everyone who has completed their research properly will hold strong convictions to the long term potential and outcomes of the company and not be so emotively flabbergasted by a contrarian POV to theirs - they simply manage their investment to a redetermined set of risk rules. Its generally only a time period difference - short vs medium vs long. Mine at the moment is very short.

    For instance on the below weekly swing close chart (excuse the fact I've replaced orange arrows with green circles), the market is still clear in a bear phase, because we don't have a higher top, higher bottom sequence yet. Plus we are still under the weekly swing trend line, 50% retracement and 100 week MA (for the TA fans and apologies to the fundamentalists). They are the immediate impediment technically speaking, outside of the fundamental considerations regarding milestones and future announcements. Until we get a reversal pattern of higher tops and bottoms, then people are buying into risk (an potential asymmetric reward), which is cool as long as they make a conscious decision to manage the risk and protect capital. When she breaks out, then it worth a look in my opinion, but with certain caveats.

    Please note the above hasn't suggested or forecasts a new bottom. I get that it is also an opposition to people who post tangential macro information, but that doesn't represent the specific asset and is only a distraction to the underling facts.

    https://hotcopper.com.au/data/attachments/5800/5800126-8b46d368bcae1846d13dae8fc211b018.jpg

 
watchlist Created with Sketch. Add BML (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.