Mining Minerals & Metals Share Discussion Threads

[jdeltablues] 21/3/2003 22:24

What a follow through! Classic action for a stock making an all-time high, as the momentum players and the breakout buyers pounce on it, all the buy stops above the old trading range get triggered and there are no "stale bulls" to sell into the rise.

I hope no-one's still short...

[jdeltablues] 20/3/2003 22:14

MMM made an all-time high today by my reckoning - previous intraday high was 130.86 on 22/11/02, highest close was 130.30 the day before.

[energyi] 10/3/2003 12:02

KVU,
You may want to have a look at Unilever, which has a similar business
(in some markets, addressing similar consumers)

After a long peaking process, they may fall together

[milacs] 08/3/2003 10:52

I hold four shares in MMM after working for them in the States for a number of years. I retain this small holding for old times sake and this also allows me to receive annual reports etc from the company.
I am still in touch with a few of my old colleagues who are still employed in 3M research labs. They tell me that the whole philosophy of the company has changed. Instead of being motivated by development of new products, upper management has been taken over by bean counters. Therefore red tape, meetings and profitability at all costs have pervaded the company.

M

[crontab] 08/3/2003 09:59

I hope you're right.

[energyi] 01/3/2003 10:20

peaking relative to dow?


Toppy on Weekly Chart too:

[kvu] 25/2/2003 17:22

No, I am out of this. I was still hoping for a rise in the markets this week and thought I would play it smart and try and get the top. On this ocassion I missed the boat and the ships seems to have sailed. God, I sound like I am going mad. I jsut hope we get another rally above 8000, before we hit 6000, and I get to come in with my shorts. Man I am so stupid for waiting out before I came in. Duh

[energyi] 25/2/2003 15:36

Kvu,
Hope you got some more Puts on MMM.
I'm focused on: IBM, PG, ... SLM, FNM

Of course, you can LINK to any of my threads.
I have a Link in here from the "Trading the DOW" thread

I prefer the new Charts. Easier to read.
Why not add "UltOsc"?

[kvu] 23/2/2003 01:37

Anyone notice the 10 year chart slow stoch showing a rising wedge. From mid 98 till now the indicator has been rising off an invisible support line. I would draw it, but don't know how to and post it here. Could this be the signal of a break through to the downside or, more scary, to the upside?

[kvu] 23/2/2003 01:32

Could people please comment whether they actually prefer the new charts that I have put above. Some of the old charts have been replaced by new ones with better MA's. I have taken the blue background away as I thought it wasn't pleasent on the eyes. Anyone found it easier to observe the old dark blue background?

Energyi, would you mind if I put a link to some of your related threads here.

[kvu] 22/2/2003 20:03

lol, am still waiting too for 128.47 before I venture in. I nearly bought APR 03 $130 stikes at $6.40 on friday, but waited. I am still thinking that we are going up rather than down....too many bearish people in this market with tight stops and no real trading experience (new shorters) that are gonna be hit alot and cause big rises in the short term. I my be completely off base here, but I am treading very carefully right now with any position.

[energyi] 22/2/2003 19:42

I'm poised to buy Puts,
But am waiting for a higher price

[kvu] 19/2/2003 20:00

Smellberg

Max pain calculator does show the February 2003 figure to be aorund $125

[seela] 19/2/2003 19:26

pherring

A merrill Lynch analyst said after recent results that ebay had "one of the best business models of any company out there".

Obviously an extremely demanding valuation, of course - but it is in a market that is fairly recession-proof.

I bought some immediately after resulkts, but sold at a small profit due to the announcement of a pending legal action which, if successful, could force them to radically change the business model.

[smellberg] 19/2/2003 19:24

Isn't max pain for options expiry $125?

[pherring] 19/2/2003 19:06

kvu. have you looked at ebay. Looks awfully expensive. At multi-year high and p/e of 90. 49 insider sells this year, no buys.

[kvu] 19/2/2003 18:52

Stop hit at 125.27 on the above trade.

[kvu] 19/2/2003 17:39

Have placed a small long at 125.27 with a stop at 125.16, the days low for a speculative play. Looking to get maybe 300pts.

Later: closed half for 127.57. Rise was too quick. Reason for my entry was because of the following charts. Stop on other position raised to entry 125.27

Good looking candle bounce off 55 SMA.


Good support on provided by 179SMA on the daily charts provided by Mr E. Could be the start of fifth leg uptowards my target of 128.40's

[energyi] 18/2/2003 22:54

OPTION VOL.: "3M-Puffs" (Symbol: MMMPF: Strike: $130)
APR 03 PUTS. Stock trading at $126.78
Last: 6.80 / Change: -1.40 / Bid: 6.80 - Ask: 7.10
Vol: 140 ... Open Int: 4,789


OPTION Implied Vol. Record (note:365d=19.1, Ops.exp: 18-Apr?)
Date. ..MMM.. .X.O Put.:.Adj. 12mo.Time/Sqrt Yr-Str xAdj. Vol.%
PF-Apr
02.18 $126.78 130p 7.00:5.88=14.27 /62 = 7.87 21.95%x1.25=27.4%

...
if ive done this right, these are not terribly cheap.
but not ridiculous either. At $127.5, the cost should be about $6.60-6.70

[kvu] 18/2/2003 20:58

Good bounce off 32 day support. Currently 126.23. Move higher now?

[kvu] 18/2/2003 19:56

APR 03 PUTS. Stock trading at $126.78

Strike: $130
Symbol: MMMPF
Last: 6.80
Change: -1.40
Vol: 140.00
Bid: 6.80
Ask: 7.10
Open Int: 4,789.00

Later... Bought 1st set of April 03: $130 PUTS at 7.00 with Cantor. Already in the money on those.

Later closed for $7.10 Just thought the bounce of DOW 8000 was good. Closed when MMM hit 126.22

[energyi] 18/2/2003 19:47

April $130puts. Gotta price?

[energyi] 18/2/2003 19:45

Nice find, K.!

[kvu] 18/2/2003 18:57

Well thats it folks. Mr E. and I feel $128-129 maybe be the top on this. LOL, that must count for something, right? I will go one step further and say it will happen on ..... Thursday. Only joking guys, I am going to wait on the sidelines on this, until tomorrow at least, and see what is cooking up. I think one more explosive move up (straight into the bollies and not past it) with a failure after will definately "confirm the top" for ME.