sharetrader - on MCR - just adding my thoughts, I don't know if they will be helpful or not
the chart looked to me ideal for a short ie.(downward trending and at the top of its trading band..
then I checked the buy/sell ratio, there are twice as many buyers as sellers ...... so there is an indication that the price might be likely to move back up ...... there are no real guarantees with buy/ sell ratios of course.......
I personally would have preferred to wait for an upward trend to start up before committing - but know nil about nickel pricing etc.
if the price of nickel was extremely good..... then maybe you are ahead of the market ....
the other thing is if a sector goes down as a rule all stocks in that sector go down, regardless of their financial credentials or prospects .....
well done with the gold - sometimes you can make money trading against the trend if you are nimble enough......I have done so also successfully - a but have also come unstuck......
I have also shorted FMG at 3.97, so a bit down on that one at the moment.....I kept my bid up from the bottom as it had been going down very steeply and I thought maybe due for a slight retrace ..... in fact looking at it now with the price finishing on the up, and with the buy/ sell ratio slightly positive for the stock a further upward movement looks more likely tomorrrow.... ... but there was no market for iron ore spot last night so we will see what the prices are tomorrow morning .....
you can get all the iron ore and steel prices from macrobusiness every morning but you have to join up .....I have searched the net high and low but can not find any where else to obtain the latest iron ore prices.....
That is more than enough from me - happy trading - gk
