| Author |
Message |
     captain_chaza
Member
Username: captain_chaza
Post Number: 3851
Registered: 02-2003Rating: N/A
Votes: 0
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| | Tuesday, June 02, 2009 - 07:33 pm: |  
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Ahoy Loyal Sea-Cadet Hershy
Can I get your thumbs around the ropes on this one?
Salute and Gods' speed
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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hershy
Member
Username: hershy
Post Number: 2300
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Tuesday, June 02, 2009 - 09:10 pm: |
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Hi Charles,
Not sure I know what you mean, I assume you are suggesting we tie a knot in IRN to keep it in place. I do admit it is not the best looking chart pattern but do keep in mind that a double top in an up trend is not as fearsome an occurence as a double top in a down trend. Oft times, it results in a cup being given a handle though this time it ain't a cup.
Anyway, this is how I see IRN unfolding:
The move in 5 waves from .215 to .535 was an impulsive move. The 3 wave down move from .535 to .43 cents was the corrective move. The last swing from .43 to today's high @ .53 is the first of the next 5 impulsive waves. the next wave will be down to as low as 44 cents. Then the next move, wave 3 should be 1.682 times the length of wave 1.
But for now, she's going down !!!
INCREDIBLE OFFER - only $12 USD per month
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I do it doji style !
http://members.optusnet.com.au/~hershy/
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captain_chaza
Member
Username: captain_chaza
Post Number: 3852
Registered: 02-2003Rating: N/A
Votes: 0
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| | Wednesday, June 03, 2009 - 04:36 pm: |
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Ahoy Loyal Sea-Cadet-Officer Hershy
Thanks for your detailed response
The only observation I have is that you are starting off at a different bottom than I would
albeit at the same latitude
In a double-bottom by definition there are 2 bottoms
What would it look like if you started out from the
"Second Bottom" which I consider is a much better looking bottom from where to start out from?
Salute and Gods' speed
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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hershy
Member
Username: hershy
Post Number: 2301
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Wednesday, June 03, 2009 - 09:51 pm: |
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Snot !!!
'snot a double bottom. It's a deep re-tracement. But it is academic. Your suggestion is valid.
A very interesting bullish candle today. We may have had the retest and respect in one day. Low volume has me puzzled. Few sellers or buyers. I expected more profit takers. Someone sees value here but is not bidding up the price. Could we be stuck here for a little while ?
BTW, why is it that any way I spell "retracement" the resident spell checker underlines it ??
I do it doji style !
http://members.optusnet.com.au/~hershy/
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peterloh
Member
Username: peterloh
Post Number: 3039
Registered: 03-2003Rating: N/A
Votes: 0
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| | Thursday, June 04, 2009 - 02:38 pm: |
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Hi Captain & hershy,
Below is my take on IRN. Now that it has retraced, I am more enthusiastic on it now.MACD, crossing over and turning up.Getting ready for next week, I suppose. May even enter it in the short term comp.
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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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peterloh
Member
Username: peterloh
Post Number: 3057
Registered: 03-2003Rating: N/A
Votes: 0
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| | Sunday, June 14, 2009 - 01:28 pm: |
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Hi hershy and captain,
IRN retraced to 47 and never got to 43c before buyers came in. The chart shows there is still a lot of juice left in this one yet. For Charles, I did not miss out at all, I thought 47.5 was the support level, so I got in there.I am not going to cry over the half cent.
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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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captain_chaza
Member
Username: captain_chaza
Post Number: 3868
Registered: 02-2003Rating: N/A
Votes: 0
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| | Sunday, June 14, 2009 - 06:05 pm: |
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Ahoy Officer St Peter 
I have always found it comforting to have an Officer of your calibre onboard with me
This All-Out Sailing exercise in flying the IRN is not different
Salute and Gods' speed
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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captain_chaza
Member
Username: captain_chaza
Post Number: 3869
Registered: 02-2003Rating: N/A
Votes: 0
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| | Sunday, June 14, 2009 - 06:11 pm: |
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Sorry!!
Here is the chart in terms of the latest data I have on hand
Salute and Gods' spreed
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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hershy
Member
Username: hershy
Post Number: 2319
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Sunday, June 14, 2009 - 08:00 pm: |
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I too have bought into IRN. I see the next leg up with a target @ 61 cents.
I do it doji style !
http://members.optusnet.com.au/~hershy/
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captain_chaza
Member
Username: captain_chaza
Post Number: 3872
Registered: 02-2003Rating: N/A
Votes: 0
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| | Tuesday, June 16, 2009 - 03:11 pm: |
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Ahoy Brave and Loyal Crew
I think it's best to throw the Market Depth Instrument Overboard for this one
She/The IRN has been trading A-Typical to the market depth for 2 days now
Salute and Gods' speed
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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peterloh
Member
Username: peterloh
Post Number: 3060
Registered: 03-2003Rating: N/A
Votes: 0
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| | Tuesday, June 16, 2009 - 04:16 pm: |
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Hi Captain,
By my calculation, there is a lot of juice left in this one yet. That was the reason I replied your post by email as I told you I like to get on this one first and subsequently waited for the pull back which came. I was surprised hershy jumped on too, good on him.Market Depth is overboard, agree with you.
-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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captain_chaza
Member
Username: captain_chaza
Post Number: 3873
Registered: 02-2003Rating: N/A
Votes: 0
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| | Tuesday, June 16, 2009 - 04:16 pm: |
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Crikey!
Did anybody watch that close
It was Spectacular!
It should now be Smooth sailing for a while !
Salute and Gods' speed to all
PS Officer St Peter
That's why I promoted Hershy to the rank of Sea-Cadet-Officer
He usually likes to argue with this Captain but I too was Flabbergasted to have a Seaman of his calibre onboard with us
It makes life at sea much more comforting when you have seaman of that calbre on board
(Message edited by Captain_Chaza on June 16, 2009)
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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hershy
Member
Username: hershy
Post Number: 2321
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Tuesday, June 16, 2009 - 07:32 pm: |
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Hey Skipper, are you referring to Hershy or Herhy ?
Hehe.............
A few might get the joke !
Thanks for the compliment and the promotion.
Which brings me to a funny but true story. the place may be wrong but the timing ? She is perfect.
George, the father of a friend served in the Czech army before the 2nd world war. He fought against Hitler's blitzkrieg and after the country was occupied, George went to Palestine for a few years only to return to Czechoslovakia after Germany's defeat. He re-joined the army and attained the rank of staff sargeant. After the Russkis took over the country, George fled again and emigrated to Israel whence years later he came to Aus. Much later when the Russian empire imploded and Ivan went back to their steppes and the country became a republic, George wrote to Vaclav Havel, the president explaining that he was an old man who had twice served in the army of his motherland in times of need and it would be nice to be rewarded for this by being awarded a pension. About 18 months after sending this letter George received a reply on the official letterhead of the Czech Republic written and signed personally by Mr. Havel, advising George that since sadly, the Czech republic was a poor country the could not afford to give George a pension but instead he had been promoted to the rank of Captain !
Good story , lets' have a Pilsner !
I do it doji style !
http://members.optusnet.com.au/~hershy/
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stampy
Member
Username: stampy
Post Number: 54
Registered: 10-2003
Rating: N/A
Votes: 0
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| | Tuesday, June 16, 2009 - 08:28 pm: |
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Ahoy Captain
Permission to come aboard. I'm not sure if you remember your old cabin boy who was washed overboard in a southerly buster many years ago. I was washed up on a beach with few supplies. I have read both your literary recommendations and feel inspired to WIN!! As if i was born to win . Even if there are dark clouds ahead.
I offer little in exchange at this point as I expect most do.
I will do my best to hold the ropes tight and offer the wind shifts i see. I have pulled the small CRE headsail out and appreciate any thoughts you have. I jumped on your IRN mainsail on the dip and its keeping me heading in the right direction.
Regards
Stampy
No title yet
Regards Stampy
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hershy
Member
Username: hershy
Post Number: 2323
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Wednesday, June 17, 2009 - 01:48 pm: |
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........and out at my target, intending to re-enter around 56 cents.
I do it doji style !
http://members.optusnet.com.au/~hershy/
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captain_chaza
Member
Username: captain_chaza
Post Number: 3876
Registered: 02-2003Rating: N/A
Votes: 0
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| | Wednesday, June 17, 2009 - 02:19 pm: |
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Ahoy Brave and Loyal Cabin Boy Stampy
I remember you well and have many fond memories sailing with you on the HMAS Incredulous on her infamous Voyages
Re your CRE I must admit that I have been and still am a GOLD Agnostic
I don't think that Gold will ever become the New Euro
Having said that I do like a specie and anticipate to join you when that Large Seller/Capper leaves the vicinity
I have set my Alert System to review the situation @ 0.175
Salute and Gods' speed
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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captain_chaza
Member
Username: captain_chaza
Post Number: 3877
Registered: 02-2003Rating: N/A
Votes: 0
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| | Wednesday, June 17, 2009 - 03:25 pm: |
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Crikey Hershy
How many did you unload?
You certainly put a spanner in the works today LOL!
Salute and Gods' speed
PS Good luck with your 0.56c
Pigs will fly first before I come back for you
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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stampy
Member
Username: stampy
Post Number: 56
Registered: 10-2003
Rating: N/A
Votes: 0
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| | Wednesday, June 17, 2009 - 08:00 pm: |
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Ahoy Captain
Thanks for the welcome back. Yes I to have fond memories of the HMAS Incredulous, her course was legendary!!.. Thanks for your thoughts on CRE. I give them GREAT thought. Is BGD a suitable spinnaker for the steel class of sail you suggested to Mook?
Regards
Stampy
now a cabin boy
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stampy
Member
Username: stampy
Post Number: 57
Registered: 10-2003
Rating: N/A
Votes: 0
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| | Wednesday, June 17, 2009 - 08:10 pm: |
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Ahoy Hershy
A wins a wins a win.. its always nice to win. Well done!! My question to all is does a WIN dow give you a bit more WIN'd ? I honestly don't know and appreciate everyones thoughts.
Regards
Stampy
The Cabin Boy
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hershy
Member
Username: hershy
Post Number: 2324
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Wednesday, June 17, 2009 - 09:45 pm: |
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Nope, still in ! Order was not executed.
Parcel of 5000.
Depending on the US tonight, I think the window will be closed.I will be very surprised if the DJIA will not reach support this week. Will support hold ? Don't know.
The decreasing volumes speak very loudly to me.
If the XAO doe the same, and I believe it will, there is no way IRN will not close the window. As it will DYE.
I do it doji style !
http://members.optusnet.com.au/~hershy/
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peterloh
Member
Username: peterloh
Post Number: 3065
Registered: 03-2003Rating: N/A
Votes: 0
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| | Thursday, June 18, 2009 - 12:06 pm: |
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Hi hershy,
You are spot on IRN. I do allow some flexibility on the support and resistance level though, so for me 56.5c or 57c is closed enough.So I just bought some more at 58c and and some more at 57c. Here is support for the fine Captain.
I did not tell the Captain that I too saw the closing on Tuesday, if I haven't seen it myself, I wouldn't believe it. It to an extend a confirmation of my expectations. We will see how it pans out, if it is anywhere like FRS, I would be happy.
I notice that you still hold on to it, so good luck.
cheers,
Peter
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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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peterloh
Member
Username: peterloh
Post Number: 3066
Registered: 03-2003Rating: N/A
Votes: 0
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| | Thursday, June 18, 2009 - 04:26 pm: |
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Bought a bit more at 55c near the end. Now I am going to close my eyes and say a prayer.
-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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stampy
Member
Username: stampy
Post Number: 58
Registered: 10-2003
Rating: N/A
Votes: 0
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| | Thursday, June 18, 2009 - 08:10 pm: |
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Ahoy Hershy
Nice call on IRN. Your call was perfect! I'm very sorry to hear about the missed sail drop,especially after such a move, but thats sailing. I wish i could tack that quickly I'm learning as I go. I still think the breeze blows true at the moment but only just.
Regards
Stampy
The Cabin Boy
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mook
Member
Username: mook
Post Number: 87
Registered: 05-2008Rating: N/A
Votes: 0
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| | Friday, June 19, 2009 - 07:46 am: |
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Good call hershy, where to from here? I like the way the SP of IRN bounce off the support level at the end of the day. Your target using EW, please?
cheers
mook
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peterloh
Member
Username: peterloh
Post Number: 3067
Registered: 03-2003Rating: N/A
Votes: 0
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| | Friday, June 19, 2009 - 10:09 am: |
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Hi stampy,
There is no sighting of the captain or his officer hershy.
I guess we will have to do the best we can here.IRN broke through the support line "false break", but finished the day way up from the support level. If the past candle pattern is any guide, we can be quietly optimistic from here "smooth sailing" as the Captain calls it?
-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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stampy
Member
Username: stampy
Post Number: 60
Registered: 10-2003
Rating: N/A
Votes: 0
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| | Friday, June 19, 2009 - 04:48 pm: |
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Ahoy Sir Peter
I follow your charts and thoughts with great interest and find my course much improved as a result. Your comments on my picks will be very welcome. Yes IRN dug its bow in yesterday and scared me a little, but not that much. Today it did it again but she closed with such strength . I think your right its smooth sailing from here. What is it with this sail and the close?. Hershy must be re checking his charts after such a nice call yesterday trying to find the winning numbers to OZ lotto is mt bet. I find myself East by east this week after a terrible pick in the regatta but a nice lift on BGD.
If I looked at how far it's come in the last 2 months I might be a little nervous. Lucky I don't notice such silly things.
Regards Stampy
The cabin boy
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hershy
Member
Username: hershy
Post Number: 2326
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Sunday, June 21, 2009 - 03:27 pm: |
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I am having "issues" with IC notification when threads that I follow have new posts. Have not been aware of the last few posts. On Thursday I added to my IRN holdings and am now the proud owner of 10k shares. Friday did not go entirely as expected. My target is .82 , the high of November 12.
Actually 2 cents bellow that.
I do it doji style !
http://members.optusnet.com.au/~hershy/
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peterloh
Member
Username: peterloh
Post Number: 3068
Registered: 03-2003Rating: N/A
Votes: 0
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| | Sunday, June 21, 2009 - 04:13 pm: |
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If the past candle patterns repeat itself, we may see IRN move sideways for a couple of days before resumeing its upwards movement.
-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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stampy
Member
Username: stampy
Post Number: 63
Registered: 10-2003
Rating: N/A
Votes: 0
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| | Monday, June 22, 2009 - 06:54 pm: |
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Hi Peter
I stayed the course today even with the close looking a little ordinary. i figure as long as the trend line holds its just resting.
Any thoughts? Captain what are you thinking on the IRN?
Regards
Stampy
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hershy
Member
Username: hershy
Post Number: 2328
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Tuesday, June 23, 2009 - 07:26 am: |
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All hands prepare to abandon ship - unless your stop loss is well below the surface !
I do it doji style !
http://members.optusnet.com.au/~hershy/
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archer
Member
Username: archer
Post Number: 2063
Registered: 11-2002
Rating: N/A
Votes: 0
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| | Tuesday, June 23, 2009 - 10:22 am: |
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There was so much cheerleading of this stock it just had to tank
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peterloh
Member
Username: peterloh
Post Number: 3070
Registered: 03-2003Rating: N/A
Votes: 0
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| | Tuesday, June 23, 2009 - 04:51 pm: |
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Hi hershy and stampy
I was away from my computer this morning. I am still in, as I thought it was a bit late to get out.When a tsunami comes, no one is safe.It is no consolation but tomorrow is another day.
cheers,
Peter
-------------------------------------------------
Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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captain_chaza
Member
Username: captain_chaza
Post Number: 3884
Registered: 02-2003Rating: N/A
Votes: 0
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| | Tuesday, June 23, 2009 - 07:36 pm: |
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Ahoy Archie
I have researched your posts over the last year and have found that you add nothing
Do you ever buy a stock?
It seems to me that you pride yourself in being the "Ultimate Spectator"
I really hope you enjoy the spectacle
Salute and Gods' speed
(Message edited by Captain_Chaza on June 23, 2009)
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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archer
Member
Username: archer
Post Number: 2064
Registered: 11-2002
Rating: N/A
Votes: 0
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| | Tuesday, June 23, 2009 - 08:00 pm: |
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Your research is not your strong point
June 4 in this post was a warning of resistance coming up
and a possible leg down
http://forum.incrediblecharts.com/userscripts/forums/show.plx?tpc=8&post=147689
PAY ATTENTION little skip
or are you still sore about missing out on the 400% gain on
BGD--haha
I even messaged you when it broke the down wedge at 2.5 cents
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captain_chaza
Member
Username: captain_chaza
Post Number: 3885
Registered: 02-2003Rating: N/A
Votes: 0
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| | Tuesday, June 23, 2009 - 08:24 pm: |
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"hoy Archie
Why do you call it "Stuff"
Is this just a transmission period in your life while you attempt to learn the ENGLISH LANGUAGE?
Salute and Gods' speed
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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hershy
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Username: hershy
Post Number: 2329
Registered: 10-2002
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| | Tuesday, June 23, 2009 - 10:17 pm: |
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And this little fracas relates to IRN how ?
I do it doji style !
http://members.optusnet.com.au/~hershy/
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peterloh
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Username: peterloh
Post Number: 3071
Registered: 03-2003Rating: N/A
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| | Wednesday, June 24, 2009 - 10:06 am: |
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Hi hershy,
I do not know the intention of the post, however it does not reflect well on the poster.
cheers,
Peter
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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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stampy
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Username: stampy
Post Number: 64
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| | Wednesday, June 24, 2009 - 06:47 pm: |
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Ahoy Sir Peter and Hershy
My IRN sail was washed overboard yesterday near the close. My hands and heart weren't strong enough to hold on. I was running a MA as a stop and let it go to long. Sorry I didn't post. I got caught chucking other heavy weights overboard that threatened to pull me south. I wish I'd followed your call on the open Hershy it would have been much less painful.
Regards
Stampy
The Cabin boy
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stampy
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Username: stampy
Post Number: 68
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| | Thursday, June 25, 2009 - 08:56 pm: |
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Ahoy Sir Peter
What a difference a day makes.
Regards
Stampy
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peterloh
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Username: peterloh
Post Number: 3073
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| | Friday, June 26, 2009 - 01:40 pm: |
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agree with you stampy.
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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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stampy
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Username: stampy
Post Number: 71
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| | Friday, June 26, 2009 - 09:35 pm: |
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Ahoy Sir Peter and Hershy
I've jumped back in after such a pretty picture yesterday.
Spent the week sailing sideways. There are much worse ways of spending the week.
Regards
Stampy
The Cabin boy
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hershy
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Username: hershy
Post Number: 2337
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| | Sunday, June 28, 2009 - 07:41 pm: |
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Two more days left for getting rid of loosing shares to lessen the tax on cashed in gainers. Although the last 12 months did not exactly produce a large number of shares where capital gains would be a problem.
As far as the chart goes, the action has moved below my preferred trend line. That and the largest daily trading range since November does lend a certain kind of indecision to the picture. Sit on your life jacket Stumpy to protect the family jewels, the seas will be pretty choppy for a few days. There are times when sailing sideways is much preferable to being tossed about in the maelstrom.
I do it doji style !
http://members.optusnet.com.au/~hershy/
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stampy
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Username: stampy
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| | Thursday, July 16, 2009 - 08:34 pm: |
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Ahoy all
Had to tack away today. I'm thinking I can find a sail I like more over the next couple of days. God speed.
Regards
Stampy
The Cabin boy
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hershy
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Username: hershy
Post Number: 2357
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| | Sunday, July 19, 2009 - 06:11 pm: |
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The projected trend line I placed on the chart back on June 28 seems to be true. The new support/resistance line in this chart has been that on 3 occasions. As always, depending on general market conditions in the short term, I would expect the the 3 wave correction to be over and am looking for a move towards 60 cents.
Yeah, I'm still in !
I do it doji style !
http://members.optusnet.com.au/~hershy/
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captain_chaza
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Username: captain_chaza
Post Number: 3970
Registered: 02-2003Rating: N/A
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| | Sunday, July 19, 2009 - 06:23 pm: |
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Me too!
If I didn't have a better tack for tomorrow's race I would seriously think of averaging down
We Yachties never seem to have enough money!! Ugh!~ OUCH!
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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peterloh
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Username: peterloh
Post Number: 3130
Registered: 03-2003Rating: N/A
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| | Sunday, July 19, 2009 - 10:05 pm: |
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Hi hershy,
I bought some on Friday, so I hope to have better luck this time. It sure beats buying them at 56c though.
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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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stampy
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Username: stampy
Post Number: 95
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| | Thursday, July 23, 2009 - 07:40 pm: |
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Ahoy All
If only my heart were stronger I'd still be onboard a sailing true north.. oh well.. thats sailing .
Live and learn as "they" say.
My focus sometimes is just to live.
Regards
Stampy
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gdd3
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Username: gdd3
Post Number: 480
Registered: 09-2002Rating: N/A
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| | Thursday, July 23, 2009 - 11:49 pm: |
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Hershy...congrats on your Elliott Wave scenario over the weekend with this one as IRN has performed beautifully since.
To add another perspective to your already "spot-on" conclusions(and projected scenario likelihood) I include another chart that sort of reinforces your scenario. If we can get some sort of value above the low 50's soon or if we see a short-term "profit-take" that doesn't see a close below say 45c(bottom prong of the pitchfork I have drawn and co-incidenlty the 150 day EMA) then the likelihood of IRN moving towards the low 60's min seems inevitable.
Dolphin
P.S. Incidently, I'm not there with you guys but as the Captain often say's "there's never enough money in a captain's coffers"
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hershy
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Username: hershy
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| | Sunday, August 02, 2009 - 10:43 am: |
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Taking a bit long to move on but see what happened last time IRN dallied for a spell.
The big money in stockmarket investment is not made in the thinking, it’s made in the sitting.
http://members.optusnet.com.au/~hershy/
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peterloh
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Username: peterloh
Post Number: 3198
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| | Wednesday, August 12, 2009 - 03:04 pm: |
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IRN is travelling in a channel. Timing is important in the entry and exit, especially for short term trades.
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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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hershy
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Username: hershy
Post Number: 2425
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| | Wednesday, August 12, 2009 - 10:04 pm: |
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Hi Peter
Though I do not disagree with your observation reagrding a channel bound IRN, I would like to point out that a longer term view of an IRN chart should provide a much different perspective.
Again, a pattern so very often seen at this stage of a bullishly reversing market - an inverted head & shoulders.
If one were a pessimist and look at the right shoulder to project a target - 80 cents comes up while an optimist expecting the head to be the profit projection finds the target at $1
The 80 cents roughly coincides with a previous high
while the $1 level is located at the next high.
First, of course, IRN does need to get itself above 64 cents.
Do keep in mind though that broad H & S patterns such as this do not have the same change of success as tall, narrow ones.
The big money in stockmarket investment is not made in the thinking, it’s made in the sitting.
http://members.optusnet.com.au/~hershy/
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peterloh
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Username: peterloh
Post Number: 3200
Registered: 03-2003Rating: N/A
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| | Thursday, August 13, 2009 - 02:23 am: |
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Hi hershy, there is a bonanza of inverse head and shoulders in an emerging bull market.Is there any way that one can measure the duration of our targets? How do we benefit from this knowledge? What is your approach in deciding which share to trade considering there are so many with the same patterns around?
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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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peterloh
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Username: peterloh
Post Number: 3203
Registered: 03-2003Rating: N/A
Votes: 0
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| | Thursday, August 13, 2009 - 05:56 pm: |
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IRN up 10.71% today, I am holding my breath.
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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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hershy
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Username: hershy
Post Number: 2427
Registered: 10-2002
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| | Thursday, August 13, 2009 - 07:51 pm: |
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Hi Peter
You are right about the multitude of bullish patterns that appear in emerging bull markets. (Love that term !) Many of the the H&S patterns display rounded bottoms as the right shoulder, further hinting to the direction of travel and a first target. IRN is doing that just now yet the textbook H&S should be more V shaped rather that rounded.
How do I pick from the patterns I find ?
Too many of them to be able to get into all of them, I guess I prefer the narrower setups, unlike IRN.
I guess I look for three consecutive higher highs and higher lows from an established - and dominant low. Officially that is the start of a bullish impulsive wave set up. I try to count the waves but I am not very good at it.
I usually miss the start of wave 3 but try to respond to the 1-2-3 setup when the action takes the prices from the low of wave 2 past the high of wave 3. I can work out my target from this setup as most often wave 3 is around 1.68 times the size of wave 1.
As I am still scarred from the losses I suffered due to me arguing with the market I am very scared to hold on once a primary target is reached. See my comments in the IDL thread. Sold out at first target and missed out on squillions. (Huge exaggeration) Ditto for BKN.
I also hold OKN which has gone up approx 67% since I bought in. This has reached the target set by the head of the H&S . Today's candle could be an evening star and I am itching to hit the sell button.
Anyway, to get back to your question re my selection method.
I believe horizontal necklines or necklines where the right shoulder is higher than the left shoulder have a higher chance of reaching the target set by the head. Necklines like those of IRN tent to have to work much harder to go past targets set by the right shoulder.
No proof, just theory.
Anyway, IRN is looking great and once it breaks past 64, is a dead cert to hit 80.
The big money in stockmarket investment is not made in the thinking, it’s made in the sitting.
http://members.optusnet.com.au/~hershy/
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peterloh
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Username: peterloh
Post Number: 3210
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| | Friday, August 14, 2009 - 12:23 pm: |
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Hi hershy, IRN bridged the 64c today and is likely to proceed towards the next resistant level of about 82c.There is not much on the seller side as heavy resistant at 66c has all been taken out.As I see it, the $1 target which is the head length is achievable in your inverse head and shoulders chart.
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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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hershy
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Username: hershy
Post Number: 2456
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| | Thursday, August 20, 2009 - 08:29 pm: |
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IRN has reached the wave 5 target and is now due for the 3 corrective waves. That could be as low as low 50s.
I have taken profits, I am out.
The big money in stockmarket investment is not made in the thinking, it’s made in the sitting.
http://members.optusnet.com.au/~hershy/
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peterloh
Member
Username: peterloh
Post Number: 3227
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| | Saturday, August 22, 2009 - 09:56 am: |
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Hi hershy,
Like you, I have taken a bit of profit and unload a third of my holding in IRN. However I do not believe the story is over yet with this one. I am holding tight with the other 2 thirds.I have a feeling it is going to run on Monday.At least I won't miss out and I don't have to buy back like the day traders.
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Disclaimer: Please note that comments made in this column is mainly for the interpretation of charts in technical analysis. It is not made in my professional capacity and should not be taken as advice.In my professional capacity I am only allowed to give advice on certain managed funds authorised by my license dealer.Any share discuss is for general interest and should not be relied on to make an investment decision.It is likely that I may own the shares that we discussed as a trade or as an investment. Please consult your stock broker or financial adviser in regard to your personal situation.
The views expressed here contain information derived from public available sources that has not been independently verified.No representation or warranty is made as to the accuracy, completeness or reliability of the information.Any forward looking information in this representation has been prepared on the basis of a number of assumptions which may prove to be incorrect.It should not be relied upon as a recommendation or forecast by the writer.
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hershy
Member
Username: hershy
Post Number: 2462
Registered: 10-2002
Rating: N/A
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| | Saturday, August 22, 2009 - 12:04 pm: |
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Peter
I am really having issues with holding on to stocks when a short term target is reached. Instead of keeping my eye on the longer term target where the real money would be, when I see the market falter so too does my heart. And I take profits.
I did this with IRN, sure that a correction was to follow and intending to buy back in but a profit is a profit. And I live to fight another day.
Also took profits in NOD, NWH and MGR and took my losses in ADX.
This week I booked a cruise to Tahiti and Hawaii for April next year and figured to earn the cost this week (and did).I was quite chuffed with my decision but was also totally bewildered yesterday. Why was our market falling when Shanghai had regained the losses of the previous day and the US has had an up day ?
Still don't know the answer but then last night's figures from the States would suggest that my exits were premature.
I still like the above stocks so may just try to get back on Monday.
But there are so very many inverted head and shoulders and wedges & triangles about to break out that it is difficult to know where to jump first.
Who said trading was easy ?
BTW Peter, your LYC pick was fantastic.
Sie sie !
(Message edited by Hershy on August 22, 2009)
The big money in stockmarket investment is not made in the thinking, it’s made in the sitting.
http://members.optusnet.com.au/~hershy/
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bib
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Username: bib
Post Number: 50
Registered: 04-2007Rating: N/A
Votes: 0
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| | Saturday, August 22, 2009 - 07:30 pm: |
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Hi all,
Agree, LYC was a good pick.
What i am noticing following the posts/threads is that we all have different plans/methods for trading. For example i cannot see patterns or waves very well in charts and i rely on indicators. I must do some more reading on patterns etc.
But whatever works best for each of us is the best plan. I use trailing stops for exits and sometimes the panic exit eg, market falls or stock gets a little kick (inexperience).
I like the idea of selling at target because it forces a profit to be taken and gives the trader some certainty.
I like the look of IRN as it is in a consolidation in an uptrend. I would not buy it however because:
I notice when it gets to highs it moves back. Maybe a move back is due??
Secondly and primarily for me TMF 21 is neutral which indicates not a lot of interest - I would not buy it for this reason.
Do you guys place any emphasis on TMF when making a trading decision?
I usually use it as a filter. Helps eliminate some propects. Although i did not use this with SWK and it has done OK.
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hershy
Member
Username: hershy
Post Number: 2467
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| | Sunday, August 23, 2009 - 09:02 am: |
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Mornin' Bib
Google "Trading naked".
Never rely on indicators to make your decision, only to confirm that your decision is right or not.
TMF is very good and seems to have a high success rate as a filter.
I also find Equivolume charts to be extremely informative.
Oh, an afterthought.
Peter Loh is a very good indicator,
Trade well and prosper.
(Message edited by Hershy on August 23, 2009)
The big money in stockmarket investment is not made in the thinking, it’s made in the sitting.
http://members.optusnet.com.au/~hershy/
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bib
Member
Username: bib
Post Number: 51
Registered: 04-2007Rating: N/A
Votes: 0
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| | Sunday, August 23, 2009 - 10:53 am: |
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Morning Hershy,
I know what you mean about indicators but i think it may take some time to get pattern recognition skills ingrained enough to plough thru charts reasonably quickly.
Indicators will tell me stocks that are in an uptrend, i then use filters such as TMF to help reduce the scan number of say 150 to a reasonable number to chose from. I then look for breakouts, new highs, TAZ zones, consolidations in uptrends etc.
Getting better at recognising some , for example stocks that move in gentle waves i recently realised i was buying at the crest of the wave and not the bottom.
When the market is flying i guess most things work in picking stocks whereas when the market is not flying it then becomes important to look at individual stock behaviour and patterns rather than generic indicators.
To get around this i try to limit my number of trades when there is a bearish parabolic cross on the XAO and continue to limit trades while it remains bearish. Use of indicators is very wide spread as i notice a lot of stocks on my scans often gap up the day after i get a buy signal which means every one is getting the same signal. I also notice that most indicators end up taking you down the same road just have a different name and method of getting the same/similar result.
I follow posts on this forum and find them to be interesting and educational.
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