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Mandalay Resources Corp. T.MND

Alternate Symbol(s):  MNDJF

Mandalay Resources Corporation is a Canada-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Bjorkdal gold mine). The Company’s operations include the Costerfield mine, Bjorkdal mine, and non-core operations. The Costerfield mine operation is located in Victoria, Australia, within the Costerfield mining district, approximately 10 kilometers (km) northeast of the town of Heathcote, Victoria. The Bjorkdal operation is located within the Boliden mining district, approximately 28 km northwest of the municipality of Skelleftea and approximately 750 km north of Stockholm. The Company’s non-core properties include La Quebrada and Lupin. The Company's La Quebrada is a copper-silver development property located in the Coquimbo Region of Chile, neighboring the Minera San Geronimo owned Tugal open pit.


TSX:MND - Post by User

Bullboard Posts
Comment by tradethechartson Jan 07, 2013 7:54am
177 Views
Post# 20804531

RE: RE: Looks like I was right????

RE: RE: Looks like I was right????

Abe you seem to have missed my second point.  I am very highly disciplined. I trade weekly charts for entry patterns and daily ones for signals except in the case of higly priced stocks, where I  use weekly exit stops.  That is, my stops and targets are always looked at on a daily basis, so every evening I look at my portfolio and the charts I am interested in and decide whether to buy or sell the next morning.

The second buy at 0.97 was something I do from time to time.  When I see a consolidation pattern after a big rise, have an entry signal already, and the price falls back down to the end of day stop on decreased volume, I take a position at the stop level.  By the way 0.97 was a great stop for this stock as it reflected the pattern of Nov - Dec and the spike high of May 27.

Sure if you get a big fall, you do lose from time to time, but in my 30 years of doing this I have found that the probability of success does outweigh the probability of failure, especially when you have a stock consolidating above a previous high point

I didn't look at the intraday trades on the 27th so don't know what may have pushed the price down to 0.91, but I know enough about trading to suggest that those in the know manipulate automated stops.  This is why I place my stops manually.

As it is the news today seems to explain the price pattern here, and the target for this is 1.40

Bullboard Posts