MMR

It must be desperate for capital. I applied for more than what I was entitled to and got the lot. The premium was not significant so I don't think the entitlement/new shares were popular but on Friday, the issue price of 50c has gone to 80c. Some crazy nuts are paying for hype. I have used up so much cash for SPPs, new shares and entitlements that I have to liquidate some MMR shares.

There are a few more 'wise guys' who are predicting an imminent collapse of commodities but they can't advise when to get out. If you cry wolf frequently enough, eventually it will come true. Not that long ago, the gurus at Eureka Report were suggesting that you get out of shares because the USA economy is going to crash and the Chinese property bubble is going burst. Well, they didn't even acknowledge how wrong they were!

I have no means of predicting. But I don't think governments or investors would like another GFC. However, it would be nice to re-establish my cash base. It is so hard to predict a few months ago that so many of my new purchases would go over 20% in under 6 months. In fact, a lot went over 50%, some by a few folds. If I had known, I would have gone to my broker at Goldman Sachs where I have a huge line of credit available for margin lending. Ah... Hindsight! I prefer slow and steady.... and expecting a major correction.