Saturday, September 17, 2005
From the weekly chart, MTDInfra should be reaching its wave 3 target of 1.23 soon. Very strong buying just before Friday’s close. MTD must be buying aggressively just before the capital repayment of 20 cents (the entitlement date has not been announce yet). The weird thing is that MTDInfra-wa is not moving as it is supposed to be. The warrant exercise price is 0.80 while the maturity date is 27 Jun 2007. At Friday’s closing price, 0.32 + 0.80 = 1.12 which is 8 cents lower than the MTDInfra price. The first target for MTDInfra-wa is 0.40 if the resistance of 0.335 is broken. I will buy more when this level is broken.
My entry: 0.285, 0.32