Friday, July 20, 2012

Midas - Finally Breakout

A day after I spotted hungry grabbing of shares in Midas by the BBs, today I was cognizant of any breakout that might occur. In the morning, I saw no activity, so I chatted with Chin. I told him that the moment Midas appear in Top Vol for today, it shall be ready for a breakout. And so both of us watched with scrutiny. At 4pm+, the breakout finally occurred. There was a massive grabbing of shares and that's where we saw the price rising. Today it closed at 0.37/0.375 and for the day it rose 7.2%. The rest was history.

I entered on a Tues, 17th July when I alerted that there was some absorption taking place. However it's readiness to take off was yesterday when the BBs grabbed a huge amount of shares. I was playing on contra and well I made it again before the due date. Attached above are my trade records.

As for all the comments, be it positive/negative that came in, thank you. Like I always said, I would rather spent time analyzing the market than to waste time on unnecessary stuff. I was rewarded once again. :)

Update 10.37PM, July 20, 2012  

My friend just sent me a link which edge magazine sent him. Midas is on the headline! Grab a copy tomorrow. :)

Ronald K - Market Psychologist - The Big Speculator