August 22, 2011- A Little Common Cents Corner #4- Analysis on ORE

This is the historical broker transaction of ORE, I can only go as far as 1 year, but since the 3 year weekly chart is in an uptrend, and this is breaking into 52 week new high ground, I thought that this needs to be looked upon.

Between July 23 to August 22, 2011 – one can see that a handful of brokers are dominantly holding the shares.  Let me break it down one by one.

1.) Angping (110) – Holds 300 Mil pesos worth at an average price of 3.39

2.) Macquarie (121)- Holds 95 Mil pesos worth at an average price of 4.16

3.) A&A (101) – Holds 92 Mil pesos worth at an average price of 3.5

4.) BDO (279), Citisec (203), Eastern (150), ATR(220) are each holding a minimum of 50Mil pesos worth of the shares ranging with an average price of 3.50.

Sellers are primarily coming from one place: Meridian Securities (206) selling almost 206 Mil pesos worth at an average of 3.23, Abacus (102), MDR ( 208) also has sold in excess of 60 Mil worth each between prices of 3.50 to 3.70.

Considering the variety of buyers following in Angping Securities’ footsteps, as well as the dominance of accumulated profits of the buyers’ average price, compared to the sellers.  This stock is clearly in an uptrend.  With resistance at 5 pesos ( a nice round number) being breached and staying near the highs today, a bullish technical platform support is now seen consolidating near the highs.    The chart says it all.  Bullish technicals, bullish moving averages, and volume is relatively strong.  If a stock is carried primarily by a bullish group of jockeys, you cannot go against the trend.  Go long, respect the moving averages and abide by the trailing stops.  Maximum wide stop today at 4.50.  Tight stops at 4.70.  Recent ORE Historical Buying transactions shows that between August 9, 2011 to August 22, 2011- Biggest Volume Buyers are:

1.) CitisecOnline (203) buys 27 Mil worth at 4.72

2.) Macquarie (121) and Angping (110) buys 14 and 13Mil worth at 4.61 and 4.80 respectively

3.) BDO (279) and Citisecurities(133) buys 11 and 7 Mil at 4.72 and 5.00 average prices

4.) Triton (136) and Accord(103) buys 7Mil at 4.83 and 4.75 respectively.

For complete recent actions, please click the historical broker transaction snapshots below.

People may lie, but charts most often don’t 😀

Useful Reminder : Self-interest is the name of the game. And solely out of self-interest, humans will invariably lie, cheat, steal, and kill. I could count the ways for you, but would it do any good? Probably not. Because odds are your programming will kick in and you’ll just go crawling back to Feel Good, Inc. and the habitual belief that fundamentals are the way, the truth, and the light. All the while, every facet of traditional fundamental analysis is on the take. – Gtotoy (Taken from “Fuh Fuh Fundy-Mentalism”)

Follow the one and only incorruptible fundamental: PRICE ACTION.

– The Faceless Trader

Recent ORE buying historical transactions and yearly buying accumulation:

 

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3 Responses to August 22, 2011- A Little Common Cents Corner #4- Analysis on ORE

  1. Mon says:

    So what’s the target senor FT?

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    • erm… I never quite thought about target prices especially when we’re just breaking into new highs. Resistances are still in the air since it’s 52 week new highs, similar to gold, lc,lcb,ma,mab and all uptrends we are facing in the mining sector.

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    • but if I had to put a number i’ll place it greater than 6? Conservatively.. the jockeys need to push their 300 Mil + 95+92 or roughly half a billion worth of shares to at least a peso or more from current market price, so that they can at least get out before the market stampedes in front of them in the exit right?

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