SMM ,Phaedrus

[troyvdh]

Sorry to burden you again but what are your thoughts on SMM...for me they are blue sky.......what are the charts telling you...PS I have to acknowledege that i am a great believer in nuclear power...(sorry)

[easy money]

dear troyvdh....i suggest you relax on this one..put it in the bottom drawer and wait for the takeover bid

[Phaedrus]

SMM gave a slew of Sell signals last April. After subsequently hitting a Low at 28 cents, it has gone into a shallow uptrend. Until/unless SMM breaks above 51 cents, this stock is probably best viewed as being in a trading range.
The chart shows a trendline and 3 different moving averages.

It is premature to talk of "blue sky" here. Unless SMM breaks above 51 cents, the uptrend has run out of steam. A break below the mid-April support would begin a downtrend. You have not been well served by the advice of "Easy Money", in my opinion. While it is indeed easy to make money by holding stocks that are in an uptrend, it is even easier to lose money by holding downtrending stocks. Therefore to give up on monitoring any stock is foolish. People have many and varied techniques that they use to help them distance reality, usually consigning problematical stocks to their :-
"Long-term portfolio"
"Hope chest"
"Kennel"
"Glory box"
"Bottom drawer"
In a word, they practice Avoidance.

http://home.ripway.com/2003-11/39768/SMMs76001.gif

Troy, your enthusiasm for this stock is evident. I don't want to pour cold water on that, but it is important to view these latest movements within some sort of historical perspective. Here is a 12 year chart :-

http://home.ripway.com/2004-7/148483/SMMl76001.gif

[IcedPaladin]

quote:Originally posted by easy money

dear troyvdh....i suggest you relax on this one..put it in the bottom drawer and wait for the takeover bid
Easy Money are you still bullish on the prospects of CSG and CER.

[easy money]

yes....thank you for asking IP

[easy money]

and you can add smm and aru to that list also

[troyvdh]

Thankyou Phaedrus,again.Yes I have to agree that one could claim that there is a degree of irrational excuderance on my part re this share...mind you I'm not the only one !.....thats what makes "the market" I suppose.

[Just_roll_it]

Well Phaedrus, SMM has well and truely broken the resistance of 0.51. This is being fueled by potential changes to regulations surrounding the mining of uranium in Oz. Perhaps troyvdh was right expecting that blue sky. It certainly looks like everything is falling in to place to make SMM's sp take off.

JRI.

[Longtack]

While it certainly has done well in the last month or so, and as Phaedrus' long-term chart shows, eight years was a hell of a long time to buy-hope-and hold a $0.70 stock that now is breaking even.
As for those who bought @ $0.05 last year - well done.
The 260 day M.A. break in April 2005 may have been the last straw for some.

[Longtack]

troyvdh Posted - 05/07/2005 : 7:52:31 PM
--------------------------------------------------------------------------------
Sorry to burden you again but what are your thoughts on SMM...for me they are blue sky.......what are the charts telling you...PS I have to acknowledege that i am a great believer in nuclear power...(sorry)

I cut this from another S.T. thread on DU.

DU is the first layer of nuclear waste produced in the fuel cycle and there’s a massive volume of it lying around – over 700,000 metric tonnes in the US alone – stored in steel cylinders in the open. DU is a liability for the Department of Energy (DOE), which is responsible for the wastes of the nuclear fuel cycle, so it has a major advantage for the US military.
Begs the question Troyvdh - what are you going to do with this stuff.

[rocket science fiction]

will it retest the highs soon or fall head and shoulders?
mma

[IcedPaladin]

quote:Originally posted by easy money

yes....thank you for asking IP
Are you still bullish on CSG and CER EM

[rocket science fiction]

mma did tell da story and nice breakout today:D

[troyvdh]

its a funny old world

[rocket science fiction]

quote:Originally posted by troyvdh

its a funny old world


sure is buddy
here i am a green suporta geting rich on U
i just sold sum so i can go buy a bike becos it beats walking
and if i get there faster i have more time to slow down:D

[troyvdh]

...silly boy.... u should hang on in there cause then u can buy a faster bike.....one with disc brakes....carbon fibre frame...titanium components.....Ive got one....

[rocket science fiction]

i said i sold sum
i still got sum more to sell and buy that bike yu speak of
and a nice shiny bell too
http://mbbike.com/store/images/30403.jpg
depending how high SMM go, maybe i can buy a gold plated tinfoil helmet as well:D

RSF don't forget the rocket propulsion system.

[IcedPaladin]

Phaedrus seems to of got this one right.
Esay Money got it wrong as per usual CER CSG.
Brace yourself for a snap election in Queensland Beattie under seige.
Three by elections in as many months.
Now hes been caught in a massive cover up that he vehemently denies.
Just move on Peter

[rocket science fiction]

like rachel hunter says
"it wont happin overnite but it will happin"

[troyvdh]

There is a fair amount of debate re Queensland politics etc, and of course uranium....but SMM also have significant (?) gold reserves.If I had more time I could find out by re reading any one of Stolwyks posting's.
I will after returning from the blossom festival in Alex.

[rocket science fiction]

SMM may have other minerals but the price is being driven by Uranium.
if queensland ever gives the go ahead for U mining, SMM will rocket and thats not science fiction:D

[vjp24]

Any ideas as to why this stock is plummeting. Is this the best time to quit or is there still hope???

[limegreen]

quote:Originally posted by vjp24
Is this the best time to quit or is there still hope???


Depends on your time frame. I wouldn't exactly call it plummeting, by short/medium-term it seems like time to sell. Trading the trends depicted here would be quite profitable. I wouldn't wait for the 60 day moving average.

http://img.photobucket.com/albums/v361/limegreenz/smm_med.gif

Longer-term, such fast accelerating stocks pose a bit of a dilemma. The shallowest trend would see you give up far too much of your gains (like over 50% with a sale at 40c).
You could draw another shallow-ish trend post the steep rise, or look to sell at something like two of the red resistance lines plotted. If it goes below 79c, I'd be selling, I think. On the other hand, the OBV still looks very positive.

http://img.photobucket.com/albums/v361/limegreenz/smm_obv.gif

[duncan macgregor]

LIMEGREEN, Dare i say it but a little bit of fundamental analysis is required here. What made the trend so steep?. Is the reason for the trend rise still valid? and warranted in your opinion. If not let a trailing stop take you out otherwise you might kick yourself out of a good trending stock. The only thing wrong is the sp is dropping below an unsubstainable steep trend. If in doubt take the money and run. macdunk

[limegreen]

MacDunk, I don't hold SMM, so haven't given any thought to its fundamentals. It was really just an interesting exercise to take a stock about which I know nothing, and work out my take on it. cheers. limegreen

[duncan macgregor]

I didnt think you were a holder Limegreen neither am i worse luck. The quandry is at what level to sell, to quick and get flicked out of a good trending share, or to slow and give back the profit. Strictly TA you would sell given the chart. However with a little bit of due diligence, ask the tea lady etc you might come to the conclussion it was only a correction before the next rise. If i bought with TA only then i would sell now, If however i had done the fundamental analysis at the start,i would know why the share trended, and what the risk was hanging on. If in doubt get out. macdunk

[limegreen]

While I would also consider looking at the underlying reason, it is also possible to find levels of support/resistance (or just a wider trailing stop), which was what I was trying to show in the second chart.
Also, considering a healthy OBV, and looking for divergences with indicators such as RSI can hopefully keep you in a healthy spot.

[vjp24]

Thanks for your views, will wait for a clearer sell signal. Cheers.

[roaddog]

This dude at work is still holding this stock he bought 400,000 shares @ 5.5c and another 200,000 @6c last year for a investment of $34,000

It was worth $600,000 :D @$1 a share this week



only on the share market good on him i say dudes :D

[neopole]

i have an almost similar volume of bliss. :-(

"only on the sharemarket"
hehe
wish my nog was as big

[nell]

SMM steadily dropping over the past week. Presume this is someting to do with WA announcement they wouldn't approve mining of Uranium. Can some one comment on this. Possibly share price might increase with AGM like it did last year. Buying opportunity now??

[limegreen]

I'd wait until the free-fall ends. You'd need balls of steel and strong belief in the viability of the company to buy now.

[IcedPaladin]

quote:Originally posted by Phaedrus

SMM gave a slew of Sell signals last April. After subsequently hitting a Low at 28 cents, it has gone into a shallow uptrend. Until/unless SMM breaks above 51 cents, this stock is probably best viewed as being in a trading range.
The chart shows a trendline and 3 different moving averages.

It is premature to talk of "blue sky" here. Unless SMM breaks above 51 cents, the uptrend has run out of steam. A break below the mid-April support would begin a downtrend. You have not been well served by the advice of "Easy Money", in my opinion. While it is indeed easy to make money by holding stocks that are in an uptrend, it is even easier to lose money by holding downtrending stocks. Therefore to give up on monitoring any stock is foolish. People have many and varied techniques that they use to help them distance reality, usually consigning problematical stocks to their :-
"Long-term portfolio"
"Hope chest"
"Kennel"
"Glory box"
"Bottom drawer"
In a word, they practice Avoidance.

http://home.ripway.com/2003-11/39768/SMMs76001.gif

Troy, your enthusiasm for this stock is evident. I don't want to pour cold water on that, but it is important to view these latest movements within some sort of historical perspective. Here is a 12 year chart :-

http://home.ripway.com/2004-7/148483/SMMl76001.gif
It cant be all that bad if you bought this time last year you will still be showing a healthy profit.
They still have **** loads of iron ore and a lot of mining results to come, before the wet season kicks in.
Anyway when is the AGM.
I noticed still an overseas buyer in the market early this morning.
They will want to keep the price around 70 cents as those select few who were chosen for the last placement paid 70 cents.

AGM NOvember not far away for some good news.

[Amiter]

Anyone have an update on this account, seems to move without any underlying reasons

[troyvdh]

Amiter....look at the Oz thread...

[troyvdh]

funny old world in OZ .75 in NZ .74....

up and away again.......why do I hold this spec stock me asks myself everyday...

[Sharp737]

Yeah....finished to day on NZ exchange at 85c....sweeeeeeeeeet

"All things are possible"

[Morpheus]

I'm no chart expert but having done a bit of reading on the subject recently, I'm thinking SMM is showing signs of a reverse head and shoulders.

Disc: none held, still shadow boxing!

Meanwhile, this from the SMH

THE prospects of uranium mining in Queensland and Western Australia improved last night when federal Labor leader Kim Beazley signalled a change in the party's no-new-mines policy.

Mr Beazley told the Sydney Institute a federal Labor government would not restrict the number of uranium mines but would tighten export safeguards.

The change would have widespread implications for the many smaller uranium explorers in Australia and would also affect the world's top two mining companies, BHP Billiton and Rio Tinto, which hold large deposits in Western Australia.

But even if the Labor Party follows Mr Beazley and changes its view on uranium mining at its national conference next year, miners will still face state bans.

Queensland's Labor Premier, Peter Beattie, has opposed uranium mining in his state because it would compete with the coal industry. Last night he said he remained concerned about the coal industry but would "look forward to the debate at the national conference which will determine the party's position".

In contrast, WA's Labor Premier, Alan Carpenter, said his state's policy on uranium mining was "crystal clear" and in line with that of his predecessor, Geoff Gallop.

"We do not support uranium mining because we believe it will inevitably lead to Western Australia becoming the dumping ground for the world's nuclear waste," he said. "We believe the majority of Western Australians support this position."

Queensland and WA are home to some of the nation's biggest uranium deposits and many explorers have been waiting for the mining bans to be lifted.

John Borshoff, the managing director of Australia's biggest independent uranium miner, Paladin Resources, said he welcomed Mr Beazley's change of heart.

"It's a profound move," Mr Borshoff said. "I thought it would take a little bit longer. It certainly now leaves the thing open for the states to unravel their various positions and for the Labor Party to look more forward."

Paladin recently made a $175 million bid for Valhalla Uranium, which controls half of the large Valhalla/Skal uranium deposit in Queensland.

The company also holds projects in WA but has chosen to open its first mine in Namibia due to the state mining bans in Australia.

John Wilson, a uranium analyst with Resource Capital Research, said he expected strong trading in shares of uranium explorers today. But he said Queensland explorers were more likely to benefit from Labor's policy change than those in WA.

"The market in general [has been] anticipating a change in Labor party policy," he said.

"To some extent, the expectation of the shift is already priced into the shares.

"I think there's still more of a discount in the Queensland shares."

Mr Borshoff warned that few Australian uranium mines would be opened in the immediate future.

"There's a hell of a lot of work to do," he said. "It's not going to be an immediate process by a long shot."

[nell]

Significant upgrade in resource announced today. Sould be positive for SP today.

[IcedPaladin]

quote:Originally posted by IcedPaladin


quote:Originally posted by Phaedrus

SMM gave a slew of Sell signals last April. After subsequently hitting a Low at 28 cents, it has gone into a shallow uptrend. Until/unless SMM breaks above 51 cents, this stock is probably best viewed as being in a trading range.
The chart shows a trendline and 3 different moving averages.

It is premature to talk of "blue sky" here. Unless SMM breaks above 51 cents, the uptrend has run out of steam. A break below the mid-April support would begin a downtrend. You have not been well served by the advice of "Easy Money", in my opinion. While it is indeed easy to make money by holding stocks that are in an uptrend, it is even easier to lose money by holding downtrending stocks. Therefore to give up on monitoring any stock is foolish. People have many and varied techniques that they use to help them distance reality, usually consigning problematical stocks to their :-
"Long-term portfolio"
"Hope chest"
"Kennel"
"Glory box"
"Bottom drawer"
In a word, they practice Avoidance.

http://home.ripway.com/2003-11/39768/SMMs76001.gif

Troy, your enthusiasm for this stock is evident. I don't want to pour cold water on that, but it is important to view these latest movements within some sort of historical perspective. Here is a 12 year chart :-

http://home.ripway.com/2004-7/148483/SMMl76001.gif
It cant be all that bad if you bought this time last year you will still be showing a healthy profit.
They still have **** loads of iron ore and a lot of mining results to come, before the wet season kicks in.
Anyway when is the AGM.
I noticed still an overseas buyer in the market early this morning.
They will want to keep the price around 70 cents as those select few who were chosen for the last placement paid 70 cents.

AGM NOvember not far away for some good news.

Well its nearly five weeks since we have heard a squeak from the company.
Hey Troy looking back at the earlier postings maybe we can share a bottle of MUMM some time[:o)]

[IcedPaladin]

Hey I forgot to mention the impending float of all the Iron Ore assets as mentioned by darling Allan Eggars in the new year.
Excuse me but just at the bottom of the Moet, well its xmas after all

[IcedPaladin]

Paladin have made an announcement regarding the Valhalla mine. The notice can be found at sedar.com
Strange that a joint statement was not issued.
If you find the notice can you please post.
Found the site at stocknessmonster.

[Torrero]

have we reopened this topic to generate more interest on this side of the tassie. Isnt it amazing. the best performing stock on the NZX gets little to no coverage in our press. in the dismal business news on one or three, have SMM ever been mentioned.
The average NZer probably only thinks there are 5 stocks in the whole marketplace.

[Fodder]

quote:Originally posted by IcedPaladin

Paladin have made an announcement regarding the Valhalla mine. The notice can be found at sedar.com
Strange that a joint statement was not issued.
If you find the notice can you please post.
Found the site at stocknessmonster.


Iced P, its a 146 page PDF technical report.
Its easier to find on the Paladin website than sedar.com.
Here's a link to the file:

http://www.paladinresources.com.au/aurora/assets/user_content/File/PaladinNI43101.pdf

There was a statement released on SMM:ASX for the PDN announcement, but it looks like they forgot about SMM:NZX.[:0]