HMX 0.00% 3.9¢ hammer metals limited

Similar thoughts GrumpyMonkey.I've been here 2 years and...

  1. 195 Posts.
    lightbulb Created with Sketch. 32
    Similar thoughts GrumpyMonkey.
    I've been here 2 years and topped up regularly on the lows without trading any in knowing that the one good announcement would take it to the next level. In hindsight would have done well taking some off the peaks each time which have been reasonably predictable.
    This time though I'm thinking like you, that the get rich quick crowd have shown up. 10 million shares turned over in a day up from very low volumes which tells me plenty of people were willing to sell at these prices and if we approach 10c there will be plenty more. The concern is when these 10 million shares want out because they see the share price coming back down, will there be buyers ready to soak up the 10 mill as easily then? From what I've observed in the past with other companies I don't think so. For me i'll be out at the first sign of this heading south from here. Could turn out to be a mistake but this time I'm not turning down cashing in on the gain. I'd like to get back in for the Kalman update. I will be back for a long hold here. Not advice and all the best to the long term holders.
 
watchlist Created with Sketch. Add HMX (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.