Mr Mustard, that's a fantastic rendition of proceedings.
I wasn't holding MNM a week ago, but I was watching due to price action a week ago.
After personally kicking the crap out of the 6c wall in my own small way, yesterday was mesmerising, and you've described it perfectly.
Daytraders I know and was in contact with were, as you said, stopped like rabbits in the proverbial headlights.
I dived in early, taking a few small bricks home. Was that high risk? Not if you knew the company.
After a year of painful losses on the back of hard to come by wins, this may be a lasting turning point. It may not be, but the balance of probabilities rests with the rise, not a continuing fall.
In what sectors will we be bullish in 2012, the year of the surprise bull who might dress as a Chinese Dragon given it is the Year of the Dragon? Abatement and alternative energy are a good place to start. MNM is abatement.
To coin a phrase our friends the Yanks created to speak of their economy, "It's the carbon tax, stupid." That to me describes a lot of things. It's also what the Government is behind, and you never fight city hall.
One more thing:
To speak of internet chat rooms in a reply to a speeding ticket is to solidify something that's been brewing in my mind, percolating away, not fully formed but there nonetheless, waiting for a catalyst to breath life into it.
The idea is that the world hasn't changed one iota.
Rapid success has and always will be about those with inside information, with which they use to get the jump on others before the competition even "knew what hit 'em".
Studies have been completed that show about 80% of all serious gains made in the market were made from those with early mover advantage ("oh really?). The only thing surprising about that is some boffin was contracted to state the obvious.
The internet - specifically broadband, combined with online execution only brokerage allows participants to act swiftly on information they glean from various creditable sources.
Price data, volume, technical indicators and the more mundane grind of reading volumes of detail about not just one company, but many, all combine to allow traders and investors to get the jump on the rest of the market.
It is no longer the sole province of benefacted professionals in stock broking firms to be gifted with alleged inside information.
Such information is out there. It's on Hot Copper, provided by hard man and his band of merry men. It's in price data, provided by guru's like Adam R of Spark. It's also in Appendix A's and Quarterly reports, most of which we give scant regard for.
Hard man and his band of merry men are like brokers sifting through information you wouldn't think to find in a report, mostly because it isn't yet written. Which isn't to take away from the veracity of questioning what Chris Osborne was doing at Parwan, or that Simon Crean has a bundle of money for projects such as MNM are embarking upon.
The only difference here is hard man et al is providing the information to the masses for free. That is not illegal, unconscionable, disrespectful to the Company or against accepted ASX or Hot Copper practices.
I humbly agree with Mr Mustard that the company was very crafty in providing the ASX with an answer whereby MNM's suggestion for its stock's movement might be found in an internet chat room.
It's called the information revolution, and as long as it's based on fact, well, someone got the jump on someone else.
So what's new?
Get aboard, or stand on the sidelines in disbelief, waiting with bated breath and schadenfreude in the hope the house and prove you wise for not taking a deep breath, winding back your foot and fist and helping to smash the crap out of that wall.
Choice is always yours.
MNM Price at posting:
8.4¢ Sentiment: None Disclosure: Held
