MNC has been featured in a particular investment newsletter today.
As usually happens with recommendations by this newsletter, watch this thing go berserk this morning.
My initial research after reading the report shows that it is a really good stock, but it is definitely going to be overpriced now!
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38% is pretty low for a stock recommended in this newsletter. I would say the subscribers are starting to realise they shouldn't go too hard too early.
The buying over the last couple of days would be the 'insiders' i reckon. It happens every time a stock is recommended.
Be interesting to see how much further it goes. The recommendation was to buy up to 50% above yesterday's closing price, so there may be more increase in the SP to come.
It is rather amusing watching the reactions.
My policy of in and out on announcement day seem to still be valid.
another funny thing is you see a small pull back in the other stocks in the newsletter as people pull funds and dive into the new one.. ETC CCC, VMS
I think people should really look at the market cap of this company. It has tripled over a few weeks to about $350m. There is no way that massive gains are on offer over the short term now. I would not want to be holding this now even if there are some more gains on offer. The pullback could be swift
An interesting article in the Brisbane Times today regarding the demand for copper and Metminco's position. I would hope to see an increase in volume for MNC as a result, but I guess a some of that hinges on gaining 100% ownership of its tenements, hopefully something they will sort out soon.
A copy of the article can be found at http://www.brisbanetimes.com.au/bus...s-up-for-the-copper-party-20110330-1cf7a.html
Here is the Australian article from this morning..........
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