Thanks GH. Any stock with shares on offer at 0.8c might be worth a punt because once the market turns around all the muck on the beach will float up with rising tide. However based on history MHL is some of the muckiest muck on the beach. I hope J123 is right about the big oil field in KR, but if they know they have a big oilfield then they must have done a lot of work to define it and if they have done a lot of work where are the announcements blowing the horn about it? Almost guaranteed to be more BS in my book. Should be bloody easy to get a JV partner as well, not bloody hard like it has been. The olfactory nerves are twitching.
Talking about the market turning around, I hate to be a bear but the DJ Industrials has closed below 10725 points the last few sessions. 10725 is the midpoint of the entire rise in the last bull market from +7,000 points to +14,000 points. The 50% mark of a bull market run is a big psychological support point and once it's violated there is nothing to stop it dropping all the way back to where the bull run started. Nothing to say that will definitely happen, but if it does you heard it here first because it is now a possibility. DJ Transports fell out of bed on Thursday too and on Friday they hit a low for the year. When both Industrials and Transports have hit new lows it is a confirmation of a bear market of which the duration is unknown.
I hate even writing that stuff, but the message here is be real careful folks, especially with a penny dreadful like MHL. Wait until you're sure the market is going up.
MHL Price at posting:
0.5¢ Sentiment: None Disclosure: Not Held
