| Author |
Message |
     holycow
Member
Username: holycow
Post Number: 2060
Registered: 08-2004Rating: N/A
Votes: 0
|
| | Friday, November 11, 2005 - 03:33 pm: |  
|
MRL Weekly Nov 11
1) reckon I have kind of hijacked the thread above, feel better to shift it here to leave the discussion back to the owner... I will continue here.
2) give me another week and I'll probably proclaim this is a recovery play - just like NLX before  but there's a need to keep this mind - the news had reported that close to a billion $ worth of retail business is in the market looking for new owners, this shows how tough the retail market has become and also it shows the kind of competition MRL is facing in coming to a "good deal".
3) thought I like to highlight this one more time, this stock has spent about 6 months in forming a base, that, is quite a good number of months.
HC
"... if you've got a chart, I have an opinion!"
|
holycow
Member
Username: holycow
Post Number: 2062
Registered: 08-2004Rating: N/A
Votes: 0
|
| | Friday, November 11, 2005 - 03:50 pm: |
|
MRL Daily Nov 11
1) just realise the daily chart looks quite ugly, albeit there were only a handful of sellers at the closing minutes sold their shares at 1.07-1.075, so at this point there shouldn't be any alarm. Yet.
HC
"... if you've got a chart, I have an opinion!"
|
holycow
Member
Username: holycow
Post Number: 2075
Registered: 08-2004Rating: N/A
Votes: 0
|
| | Monday, November 14, 2005 - 03:12 pm: |
|
MRL Daily Nov 14
HC
"... if you've got a chart, I have an opinion!"
|
holycow
Member
Username: holycow
Post Number: 2082
Registered: 08-2004Rating: N/A
Votes: 0
|
| | Tuesday, November 15, 2005 - 04:06 pm: |
|
...gotta change tact now, sorry no more chart, not when there's $$$ at stake here; the sp gapped down at open shows there are some stale bulls trying to get out but the low volume may imply all is not lost. Will watch for one more day if they are still around before deciding to bail or to load more.
HC
"... if you've got a chart, I have an opinion!"
|
holycow
Member
Username: holycow
Post Number: 2091
Registered: 08-2004Rating: N/A
Votes: 0
|
| | Wednesday, November 16, 2005 - 03:48 pm: |
|
... not bailing yet but took some profit today, will bail if the stop loss is hit. (hate it when caught in being over confident... lesson learnt). No more post on this thread due to the unnecessary pressure it creates.
HC
"... if you've got a chart, I have an opinion!"
|
spider
Member
Username: spider
Post Number: 2325
Registered: 10-2002Rating: N/A
Votes: 0
|
| | Thursday, November 17, 2005 - 11:58 am: |
|
Hi HC,
my compliments on this thread.
Apart from CC no one has had the courage to post a complete diary of a trade.
(I do it all the time, but I cheat by only posting at the end of the week!).
I understand what you mean by the pressure of having to post once you start, but it is your choice, and you should not let us spoil your enjoyment.
No one is going to judge your efforts one way or the other, we have all been there.
Sometimes I post a chart and it rockets off in the right direction, and it makes me look like a genius, other times I post and it tanks, and mostly people are kind and don't remind spider that he is human.
The reality is that luck has a lot to do with it, and we should not take ourselves too seriously (I know that you don't).
One of my mottos is; "If it's fun do it, if it ain't, then don't".
So, I encourage you to think about continuing this thread .........................................................
....................... but only if you get some fun out of it!!!!!!
regards,
spider.
Trading is not worth losing any hair over!
|
holycow
Member
Username: holycow
Post Number: 2098
Registered: 08-2004Rating: N/A
Votes: 0
|
| | Thursday, November 17, 2005 - 12:40 pm: |
|
Spider,
Thanks. Your encouragement is much needed and appreciated because along the way I felt like a fool. What started with an altruistic intention and a grossly egoistic move turns out to be a case of biting more than I can chew. Anyway it's good to see the sp rebounds from here. I think I will stop doing it because at one stage I wanted to bail but because of this thread I decided to hold on... it is affecting my trading!
Overall, it's a good lesson learnt - I think this experiment has not been very rewarding to me personally.
Cheers.
HC
"... if you've got a chart, I have an opinion!"
|
spider
Member
Username: spider
Post Number: 2326
Registered: 10-2002Rating: N/A
Votes: 0
|
| | Thursday, November 17, 2005 - 03:53 pm: |
|
Hi HC,
I accept what you have to say, and I respect it.
I won't push for you to continue this thread.
A couple of things you said got me thinking.
Right from the start , this forum has been dominated by posts which concentrate on entries.
I have always felt that a trade is mostly made up of the management along the way, and most importantly, the exit.
I have been just as guilty as others in not detailing my reasons for an exit.
Early in a trade it is easy, you set a stop loss, and if it is triggered you are out.
All the thinking goes on before the trade is opened.
But, from then in we have to think on our feet.
Do we stay in?
Do we add to the position?
When do we lighten the position?
When do we close the position?
These are all decisions that have to be made on the run.
If you are a short term trader in MRL you probably decide how much profit you need, and then you are out.
I view MRL as a possible (very possible) breakout.
So I have to endure the retracements in order to see if my judgements were correct.
A day like today is heartening, but the last couple of days get you asking the old questions like; "Has it come to and end?"
Or; "Did all that promise just peter out?"
The thing is, the stress in this job never completely goes away, no matter how long you have been doing it.
And, to be honest, I would not want it to.
It keeps me from getting complacent.
Once again, thank you for staring this thread, and making me revisit some old thoughts.
spider.
|
holycow
Member
Username: holycow
Post Number: 2103
Registered: 08-2004Rating: N/A
Votes: 0
|
| | Thursday, November 17, 2005 - 05:14 pm: |
|
MRL 3-daily Nov 17
1) Spider, you may well be right in anticipating MRL as a long term play - the attached chart (with 3 day candle) shows quite well that the last few days were just the "normal triangle breakout and throw back"; if the sp does not fall right through the support (depending on which trangle you look at), I think eventually it will make a break for the upside.
2) note the bullish MACD cross over.
Cheers.
HC
"... if you've got a chart, I have an opinion!"
|
holycow
Member
Username: holycow
Post Number: 2107
Registered: 08-2004Rating: N/A
Votes: 0
|
| | Friday, November 18, 2005 - 05:19 pm: |
|
MRL Weekly Nov 18
MRL Daily Nov 18
1) just a brief weekly summation - moving forward, what can we expect from MRL?
2) ... from the daily chart, we want to see more buyer interest - more volume is needed. The 30 day moving average "roughly" indicates we want to see at least 950K+ shares exchange hands a day; right now the low volume is saying the sp has a high chance of hovering at between 1.00-1.05 for a while unless we see more punter interest by next Monday.
If we want to read beyond the price volume action, it's saying the "deal" is still on going but there's no new development - bad news will see people start dumping the shares, good news will see the sp spiking upward with more volume... (just my guess here). The current "dilly-dallying" is mainly due to small retailers trading among themselves. Nothing major really.
3) Assuming nothing changes by next week, for those who like to see their money in their pockets instead of tying up in shares, it is not a bad idea to take profit and wait for new development. If this stock is going to move higher, it has to move past 1.10 first, that will make the next entry level of 1.105-1.12 to be good breakout entry level to ride the "deal" (news & hope actually).
HC
"... if you've got a chart, I have an opinion!"
|
holycow
Member
Username: holycow
Post Number: 2147
Registered: 08-2004Rating: N/A
Votes: 0
|
| | Thursday, November 24, 2005 - 11:21 am: |
|
... if you are among those "toughies" who have held on, today's the day where you are reminded of the adage - "buy on rumour, sell on fact" - I find it a good idea to take half off the table...
(20% in two weeks is not really a bad profit, so take some off and keep it in your pocket, don't let others take if off for you)
(Message edited by holycow on November 24, 2005)
HC
"... if you've got a chart, I have an opinion!"
|
holycow
Member
Username: holycow
Post Number: 2170
Registered: 08-2004Rating: N/A
Votes: 0
|
| | Monday, November 28, 2005 - 03:03 pm: |
|
... good time to put this stock under your microscope and check for any sign of life, the next two days will show if it will "remember" it's supposed to go up and not down
HC
"... if you've got a chart, I have an opinion!"
|
holycow
Member
Username: holycow
Post Number: 2242
Registered: 08-2004Rating: N/A
Votes: 0
|
| | Wednesday, January 11, 2006 - 12:31 pm: |
|
MRL Daily 06jan11
1) a point worth noting here, the price hike on Dec 22-23 were very much the action of small punters with pretty "lame" volume, hence, you are seeing the sp drifting back down "slowly" since - due to the lack of real big player support - this makes the volume spike yesterday more significant because it implies a "fresh" erosion of support.
HC
"... if you've got a chart, I have an opinion!"
|
|
