head & shoulders?, page-47

I have to say that the chartists have certainly called it right over recent weeks!

It clearly demonstrates the value of taking both a fundamental AND chart view of a stock at any moment in time.

MML definitely re-tested the previous (strong) support level and then fell through it with the help of a weakening gold price.

As others have already pointed out, due to it's low operating costs MML is relatively lowly geared to movements in gold. But when the market has momentum (in either direction) such logic counts for little/nothing!

I certainly had not expected such a dramatic fall here. But have continued to add stock throughout. In retrospect a delay would have been better - but such is life!

At least we now have a decent bounce. Long may it continue. The strong fundamentals should now start to come into play over the course of 2013.
CPDLC