MHJ - Michael Hill International.

[limegreen]

D'oh! I forgot to mention the OBV (it wasn't there by accident).

As to skillful v. lucky: it really just depends on what you think the odds are of the buyers continuing to push the price back up if it drops. It is a strategy of sorts, but who knows how long it will play out for.

[Gryffyn]

Where's k9 for some observations on his fave stock?

[rmbbrave]

quote:Originally posted by Phaedrus

Rmbbrave, you are either very skillful or very lucky!

I'm probably just lucky.

[k1w1]

MHI's Australian rival ANC has done nothing with its SP either, in fact it has dropped. Were it not for the new stores neither would have grown their sales and revenues. When that is your biggest market and you are regarded as a growth stock, it means MHI better push on to the summit or risk being taken behind the woodshed by the market.

[rmbbrave]

Huge volume again today!

A big drop on small volume followed by a big rise on large volume - and Splitenz reckon history never repeats!

Mine (bought for 7.30) are for sale at 7.50.

Will my "luck" hold for a third time?

If it does, I might have to make a new handle - How about "rmblucky"? Or if I start to suffer from delusions of granduer, "rmbskillful".

[Snow Leopard]

Just quietly acknowledge your stock-trading genius to yourself and wait others to recognise it.
if you start blowing your own trumpet we may come up with a new handle of our own for you.

regards

Paper Tiger

PS You is doing good, boy!

[rmbbrave]

quote:Originally posted by rmbbrave

Huge volume again today!

A big drop on small volume followed by a big rise on large volume - and Splitenz reckon history never repeats!

Mine (bought for 7.30) are for sale at 7.50.

Will my "luck" hold for a third time?

If it does, I might have to make a new handle - How about "rmblucky"? Or if I start to suffer from delusions of granduer, "rmbskillful".

Just under half the share I bought for 7.30 have sold just for 7.50 in the first trade of the day for MHI.

My "luck" is still holding.

[KJ]

Rmbbrave-good on you -but is it worth it for about 3% before broker fees and tax?

[limegreen]

I believe he has an "interesting" tax status, which makes 3% in a day or so quite appealing.

My thought on this MHI situation is that others are getting wise to it, so the price is not dropping as much because people are buying in anticipation of it being pulled back up. i.e., each time this strategy has become less profitable

[rmbbrave]

quote:Originally posted by KJ

Rmbbrave-good on you -but is it worth it for about 3% before broker fees and tax?

Monday - bought 1400 @ 7.3 - cost 1400*7.30+30 = $10250

Thursday - sold 1400 @ 7.5 - income 1400*7.50-30 = $10470

(I don't pay tax on capital gains - I am an overseas resident for tax purposes.)

Profit $220 (after brokerage and tax)

Was it worth it?

You bet! I usually have to work a day (3 hours) to get that much money.