10.17.12 BLOOM MEG

Charts of mining stocks like LC, MA, LIHC and Mining index are everywhere. They are made by our friend bloggers and posted in different forums(like this) and social networking sites. I think I don’t need to post the charts here.


Let me extract what happened to BLOOM today. It seems that traders who bought below 10 are now locking profits. Even if they sell at 13, they still have more than 30% of gains. Top sellers UBS and CLSA dumped a net of 5.26M shares and 5.8M shares, respectively. Top buyer for today was COL. However, they are still net sell. 2nd Top buyer, wealthsec, is also a net seller.

See below the large volume selldown on 1 minute chart.


MEG made a new 52 week high after retesting the resistance-turned-support of 2.33. As per valuation of BPI last 2 days, MEGs price is still undervalued if we compare it against other property stocks.

Looking on a weekly basis, it might retest the 3-year high of 2.80. Caveat: this is not a fast stock. Patient traders will be rewarded.


Other stocks that made new 52 week high


2 thoughts on “10.17.12 BLOOM MEG

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s