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BOL - Ascending triangle??

Chart Forum » Stocks - ASX: short term (strictly TA) » Archive through October 14, 2010 » BOL - Ascending triangle??

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bib
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Tuesday, August 25, 2009 - 11:19 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi all,
It looks to me that an ascending triangle may be forming on BOL weekly?




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hershy
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Wednesday, August 26, 2009 - 06:46 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



More a pennant, target @ .61.







The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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bib
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Wednesday, August 26, 2009 - 07:53 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Thanks Hershy, looks like you are right. I saw the daily as an ascending triangle and realised that was a long term pattern so i checked the weekly and saw an ascending triangle on that chart.
After seeing the chart you posted i now see the pennant. I will just have to keep practicing pattern recognition.


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hershy
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Wednesday, August 26, 2009 - 01:48 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Bib,
Not a fully legit pattern as there are no 3 touched on each axis. But enough to give an indication. Could become a bullish or bearish flag or any number of other patterns


The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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bib
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Wednesday, August 26, 2009 - 07:51 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Yep, not text book Hershy but other factors (imo) such as ADX 39, TMF 21 respect 0 and in being in an 13th Aug.
I just noticed the flag prior to the rise on 13th Aug.
I also had PBG on my short list today so it could have been worse. I could have just as easily bought PBG at open instead.
Just as well we have stop losses.


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bib
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Wednesday, September 02, 2009 - 04:01 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Gee, BOL flew but I missed exit opportunity - these things always happen at the wrong time!!. In response to a speeding ticket it said amongst many things that it had received an unsolicited offer and that it was trading well below its 89cents NTA.
So i will wait a few days and see what happens.
Damm, US down and stupid panic exit from BOW this morning!!


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bib
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Wednesday, September 09, 2009 - 09:51 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Another buying opportunity approaching????? The last one paid off.
Disclosure: I'm holding a small parcel.



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hershy
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Wednesday, September 09, 2009 - 10:11 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Overshot the target by 5 cents and fell back in shock. Nos seems to have found some support but I don't like the top tails on the last few candles. Price may fall to TAZ first before moving up and forming a H&S; target at $1.




The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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ivor
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Saturday, September 19, 2009 - 01:28 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



BOL trying hard to form a triangle ? around the 56 - 58c level, but finding great difficulty to hold above the 56c level.A solid share with forward eps around 60 to 70c or so. Could be a speculative buy around present level ???BOL trying hard ....


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bib
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Saturday, September 19, 2009 - 02:01 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi ivor it may well break out of its current congestion area but in a true technical sense its not an ascending triangle. An ascending triangle must have price cross between the lines (the more times the better) without a real lot of 'white'. Also the lines must touch at least 2 pints on each side.
It is in a good sector and is currently wanting to break from the April Resistance so it may well break soon. Time will tell.
Fridays action looks pretty bearish on volume though.


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hershy
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Saturday, September 19, 2009 - 03:17 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Ivor,
Firstly, a triangle must have "meat" within it's boundaries like this:



2nd, NOT a good idea to buy below resistance. To turn the odds in your favour it is best to buy above or at support on re-test.






The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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ivor
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Saturday, September 19, 2009 - 04:16 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Bib and Hershy. Safer to buy above resistance, but much more profitable to buy before if able to predict a break out. That's why I thought it may be a reasonable speculative buy. BOL has NTA of 89c and a book value of $1.43 so it's hard to see losing money in the medium term. May have to hold for a while though til it forms a "meaty" triangle. Might be in the process of doing that. Come Monday I'm in. Think it's well worth a flutter at this stage.


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bib
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Saturday, September 19, 2009 - 06:48 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi ivor, i have been buying in 'anticipation' as well. I figure if the markets moving up, the sector is a top ranking sector then go with probabilities with a well placed stop loss.
I now stick to patterns that have been tried and tested. Allows me to set targets which was missing and is something i need.
See link below to a good website on patterns.
http://thepatternsite.com/visualcpindex.html


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ivor
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Sunday, September 20, 2009 - 06:15 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Bib, had a look at the pattern site you recommended. It's very comprehensive. More patterns than I could ever remember though. I suppose in a perfect world we could find a perfect triangle. In an imperfect world we just have to make do sometimes? I normally trade within channels, either horizontal or sloping upwards. Occasionally I stumble across what I think resembles a triangle or flag and trade that. Thats about it really. Need to keep it simple but I'm open to any suggestions.


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dug
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Monday, September 21, 2009 - 12:59 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)




ivor wrote on Saturday, September 19, 2009 - 04:16 pm:

Safer to buy above resistance, but much more profitable to buy before if able to predict a break out.




However buying at Resistance often leads to Stop Loss Hitting.
Have you actually recently Bought BOL,ivor.
Despite TA advice did you follow your FA,Book Value,NTA 'findings'?


[a] on the chart marks a cluster of Inside days.
Inside Days are trades within the Range of Preceeding Days.
Hershy can give you more info but see the Big Red Day Candle followed by a Volume Green Pair?

well that's an Inside Day.can you see the ones before this?can you follow that today is an inside day to Friday?

Anyhow Inside Days are an Indicator of Change either up or Down.
and i suggest,ivor,that this run of such days is Screaming a Significant Retrace ie Resistance Band has stymied the action for now.

Now,I could be wrong but hope you can see,at least some reason to buy the Actual Breakout above 60 cents instead of doing d'smarts by getting 4/5 cents buying to anticipate any breakout.

Instead of going for the max,ivor,have you worked out where Support is for any short term Retrace?
around 40's to my eye and if you bought Now,what'd be your plot if BOL drops 10cents odd?

Happy trading.


Even 'til Jaded.

Dig for the sake of it.

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ivor
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Friday, September 25, 2009 - 09:08 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Dug. Have bought BOL twice already this year and made small profits both times.Have bought again at 55c. Think BOL has good fundamental stats and could be a takeover target. (There's a worldwide shortage of lifting equipment).And I'm prepared to hold for a medium term. But I need to learn more about technical analysis. I sometimes make poor buying decisions, but the uptrending market has been my ally. There's an old saying - A rising tide lifts all boats. I've been lucky so far. I've never used a stop loss. Try to buy shares in profitable companies and they have never fallen very far.


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dug
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Friday, October 02, 2009 - 10:56 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



how are ya "feeling" about BOL,now,ivor?

considering buying for a few cents more on BREAK Out?
waiting and watching instead of wading in?

to learn more about TA,it is first required to ditch FA Tenets of Method like your TakeOver Target "tip"/reading.

medium term,say 6 months holding to a wannabe trader,sorta requires buying a move when it's started;
really Happening.

Otherwise you have your money in a "so what"going nowhere,running for weeks in a paper loss position with the Risk it'll retrace further into a Significant Loss Position.

i try to buy and be break even at least within a week.I've bought because I think/research/read that it will go Up in the immediate future ie there's Indications a RUN is ON!!

so if such a run doesn't materialise.share has NOT broken out etc?
even within a week's time frame?
well,i get twitchy.admit i could be wrong.
so i go over my buy reasons,review the chart and look at giving it d'DITCH.

I do not rack my brain for excuses like but this could get taken over any bleeding day or hang around waiting for some news break to get me on some mythical rocket.

ie i do not nancy round vindicating my buy decision of a share that is Not Actually in Reality on d'GO!!

or,at least i try not to.

cheers.

ps-this post is also in response to your QBE one,ivor.Other than Taking Profits,one should Stand Losses especially in Dog Shares like bleeding BOL.



Even 'til Jaded.

Dig for the sake of it.

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ivor
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Friday, October 02, 2009 - 11:43 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Dug thanks for your comments. Think I can understand most of them. Very interesting. But nothing destroys a portfolio of shares quicker that selling at a loss. Too hard to get it back. I try not to do it. Rather hold the share until it comes back to where I bought it. The oldest share in my collection - TSI was bought on 10/8/09 at 93.5c in anticipation of a breakout. Still waiting. But it will happen sooner or later. Only held two shares this year, TLS & TTS, for more than 3 months, and eventually broke even. Collected a dividend off each. As far as BOL is concerned, ask me in the next month or two and we'll see. I'll let you know.


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gdd3
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Friday, October 02, 2009 - 12:59 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Ivor....

Not wanting to criticise you for your present "Trading Strategy" too much as "each has his own comfortable trading method" BUT I think Dug had some important info in his last post here.

What I would be concerned about your 'method' is the:-

1)..."BUY AND HOLD" issue; how did you put it?..."Rather hold the share until it comes back to where I bought it." I just wonder if you had bought similar shares, say Nov. 07 or May 08 with the same 'strategy'????

2)..."But nothing destroys a portfolio of shares quicker than selling at a loss"...oh yes there is and thats selling at a greater loss. If you think you are the only trader going around who can survive Trading without ever taking a loss....congratulations...because you would be the only one!

3)..."Rather hold the share until it comes back to where I bought it"...yep, we would all like to think that and yes we are lucky sometimes only to get out and it moves ahead BUT most times it doesn't and these are the trades that really hurt your portfolio balance if you hold onto the "HOPE" syndrome.

4)..."But it will happen sooner or later"...sort of covered in pt.1) above...I personally just don't think it is a Buy and Hold market at present so I prefer to have my investment money "work" for me and if its not then I switch. I guess I'm saying its more of a Trader's market at present not an Investor's market but "sooner or later" that will change!

5)...the likes of "TLS", and to a lesser extent "TTS", I personally am not interested in and have never been. If you look at a chart of say just this decade of TLS it only highlights one thing...there is no capital growth in it; its done nothing, apart from providing dividends, for its shareholders....I just wonder whether long-term holders have ever made real money(dividend minus ever declining share price)in it? And, yes you can claim capital losses BUT you pay taxes on dividends! Sure, TTS did have a 'shining' period there between 2006-2007 but over the last decade a similar story to TLS. So my question is "Why would anyone trade a share just for dividends?"

Ivor, my "critique" may be viewed as a bit harsh but I was concerned that another potential trader/invester may be 'wiped-out' before they get started.

cheers
Dolphin

P.S. Dug ...would have given you a few 'stars' for you post above but it appears the 'voting' system is now defunct!


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ivor
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Friday, October 02, 2009 - 01:55 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi guys - re BOL.Thought it had support around 54 - 55c level, so bought in at 55c on 21/9, with a target of 65 - 66c. I stand corrected ,it didn't have support there at all. But I'll still hold for 1 to 2 months to see what happens. Don't think it will fall much further than where it is. But I'll take on board everything that you all said ,and I may have to change my trading strategies. Thank you for all your comments it's much appreciated.BOL


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dug
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Friday, October 02, 2009 - 06:57 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Ivor,
See you've adjusted your profile.No longer showing 54yo Public Servant of Melbourne.Ivor,I apologise for making Assumptions BUT your comments above,have "insulted" me,moi.

Ivor,you are d'classic case that this forum was set up to "Help".

The ONLY "Good" Share is one that GOes UP!!

On the Track to Mammon,that's ALL you need to "REALISE".

but,you ivor,have all d'talk,setting yaself up for ALL d'FALL and we,they been round here B4?
well,personally you make me DEZSPAIR,ivor.

ivor,do you want to see d,Light?

Blue Chips,Broker Recommended Shatres-
Are Rubbish IF they don't Go UP
ie the only good share is one that goes UP.

Preferably on d'Day,or at least by week's end;

If Not?
well,d'philosophy for you,
a conservative,pub.serv.,new,FRESH MEAT to "absorb"is
..
well..
Ivor,admit to yourself that YOU are a Pollyanna Prat.
I would "dearly" love to know the Actual Gov't Dep't you work for.
I'm willing to take bets that it's
ASIC!!
but i realise d'liklihood is State nix Federal!!

Ivor,see that Abuse Button over on d'Left?
It was implemented as a Response to your's truly.

Feel Free!!


Even 'til Jaded.

Dig for the sake of it.

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ivor
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Friday, October 02, 2009 - 08:06 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



DUG thanks for your comments but you are nowhere near the mark. Never worked for the government. Always run my own business in my own way. I enjoy your comments and find you a very interesting character. I'm interested in what you have to say, and the way you say it. Have just posted a chart for MLB, perhaps you can post something as well and see if you can do better ???


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hershy
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Friday, October 02, 2009 - 09:41 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Ivor, I too am going to wade in here.
If you think it is difficult to hit the sell button when you are down a couple of hundred bucks, you have no idea how hard it is to hit when the amount is $1000 or more. I know, mate, I am speaking from experience.
Hope has no place in a trader's tool box.

You need to set stop losses on all trades be they $, % or time based. Whether you have an automatic stop loss or whether you exercise your stop the next day, you need to exercise it ruthlessly, especially in this type of market.
You must look at liquidating such a loss - and do so without emotion - as the cost of doing business, the overheads, so to speak.

Now as far as BOL is concerned I see it differently to Dug.
It is, as he says, a service company. It does not produce anything, it does not sell anything, it just moves things around. From those who produce to those who sell and as the economy improves those who move things around will feel the pace of improvement before those who sell. And this will reflect in the charts - and the SP.
Gosh that was a simplistic way to put it.

Now a look at the chart.

The BOL chart does not look any where as bad as many other charts I looked at today. And if the correction - that more and more people are expecting and the "experts" are predicting, does not come this time, you might even make the profit you are hoping for.

But for you sake, PLEASE, change your philosophy. You cannot argue with the bourse - and win.

Please forgive the patronising tone of my post.





The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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rockon
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Saturday, October 03, 2009 - 09:16 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)




ivor wrote on Friday, October 02, 2009 - 01:55 pm:

Thought it had support around 54 - 55c level, so bought in at 55c on 21/9, with a target of 65 - 66c. I stand corrected ,it didn't have support there at all.




Hello Ivor....It may or may not have had support at that point. S & R is something you will see more clearly as time goes by. One thing you need to get your head around as far as chart patterns go is that sooner or later, they fail. Resistance is broken, Support is broken and the most bullish of patterns can and do fail.Wether you buy on the support line or not is your own decision, but if it does break down from support, your reason for buying has just evaporated before your eyes and you need to rectify that ASAP and get your money into something that does do what it is supposed to.Just have to think how much money you can make in that couple of months with the capital that is now tied up "waiting" to come back to break even.

Also, if you are going to be trading rather than investing, I reckon less emphasis on FA and more on TA and MONEY MANAGEMENT is the go.Strong fundamentals and the market dont always see eye to eye.Just a thought, but how can a company with strong financials fall through support on a chart. Is it the TA or the FA that has let you down.Anticipation and gambling are one and the same IMO in this game.

There are some very experienced people on this forum who do try to help point people in the right direction. Don't make the big mistake of mis-construing a half dozen negative comments to a particular post as some sort of personal attack.If someone says that you may be making a mistake here or there, it is highly likely, that particular someone has already made that mistake themselves.Hope this helps......Cheers.

PS....Sent you a PM the other day but it looks like you didn't get it...Try leaving a double space between your dialogue and your chart. That should eliminate one or two words tacked on to the bottom of the post.


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bib
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Saturday, October 03, 2009 - 10:18 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I found out the hard way how important stops are. On 27/8/08 i bought WSA for $9.10 - and still hold just as a reminder. I stayed away from the market until mid 09.
I only bought 470 shares so we are not talking sheep stations. But still it was a lesson not only on stop loss and exits but also only trading when the market when it is in a relatively good mood.
The new ATR trailing stop Indicator on IC is fantastic. Should help me beat the 'panic exit' strategy i sometimes adopt. However when the market is toppy and looks like falling its hard not to get a little skittish.
At this stage i am only risking $300 - $325 per trade so its small fry.


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ivor
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Saturday, October 03, 2009 - 11:49 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Thanks for the input. I appreciate all the comments. No, I don't take offence at any comments that are made. I'm here to learn and improve my trading skills, and any comments are most welcome. Have been trading all this year for a living,and have been going well. But the bull market has helped me cover some mistakes. A high tide lifts all the boats as they say, even some that are unseaworthy. I'm trying to lift my game.


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colin_twiggs
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Saturday, October 03, 2009 - 01:42 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Dug,

Your contribution is not constructive. Please don't post rubbish like this again. It is an insult to other readers.

Regards,
Colin


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ken
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Saturday, October 03, 2009 - 04:03 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hello Ivor,

I concur with the necessity for stops, and to act on them.
They can be wide in a strong market but when the market is not growing strongly, such as the last two weeks, they should be tighter.

I also use a market stop in my trading - if the market falls 3% from its high, it is best to be out of long positions.

An adage that I periodically forget to my cost is that in a bull market there is no such thing as resistance, and in a bear market there is no such thing as support.

ie resistance is always eventually broken in a bull market and support is always broken eventually in a bear market.

Now we just have to work out whether we are entering a bear market or not. If we are, a whole lot of supports will be broken.


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dug
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apologies,ivor mixed you up with bib.typical of me,have a choice from two[u'n'bib] and i remember it wrong.

anyhow,might have been your "attitude" that swung me into pegging you "public servant".

now i'm in 'd'doghouse' chastised by Colin.

I'm trying to make a point-I reckon there's not enough delimit-iation around here.
I'm thinking that Size of Holding,Relativities of one's position in the Market should be "du rigeur" in posting ie
One says How Much you have Riding on this Pick.

See bib's post above?He's saying that he's got only $300ish on his "Go".
Now,by knowing/realising that?
I say that one can "temper" one's views.
Bib is obviously going d'slow'n'steady Learning Curve Route.

To me,I can sneer Typical Ex Public Servant or perhaps more so you all,especially you Star Chucking Voters,can Think that I'm sneerin/sneer yaselves,writing drivel or whatever

BUT by knowing this FAct about bib, i say that one can relax and talk shares,TA?Market Method etc with bib because you realise you are on only Business Experience NOT Saving the Soul of some newbie.

Do you follow that IF you choose to comment that there's a contra point to a Share Analysis?
That one who has 100/50/20 Grand on a single "play" Go is different as a New Member to what,I at least,have "advice/comment" for.

Contrast this to ivor.
Announces he's only SOLD/Traded a share he's held for three months TWICE so far.One of them was Telstra and further,ivor,goes on to state that he's been "making a Living" in the Market.

What can we surmise from this?
Well Ivor MIGHT BE living on Dividends.If so,than he must have relatively Large Holdings in his portfolio.
Guess say a 100 grand$/throw?

To have "Made a Living over the last 12 months....with only two trades of 3 month hold" by Trading?
alternatively Ivor could have been Trading/Buy/Selling in Shares he's held for MORE than 3 Months.

All this with a Shove Stop Losses Attitude?

Making a Living IMPLIES making what?
10 grand a year?ie you're SUPPLEMENTING "Living"
$30 grand a year?
How Much is your Capital Total?
Fabulous if a year you're Running On Bagging Income from the Same Capital Base/Input ie 30k$$ running 100%/annum;6%compound/calendar month.

I reckon hereabouts,on this Forum,that there's also pilgrims with $300,000 Grand plus Capital pulling these figures.
Also a couple of

'I've made a Million from d'Sharemarket but I got a $3million Capital Base'
Coves

Do you all follow?[did ya nb,ivor d'use of spacing

Just basic Money Management/Sizing of Buys "points".
I operate from a $30,000 Capital Base.Currently at 40kish.
I aim for Capital Growth.
At the End Of Periods[1/3/6 months} I may Irregularly draw off some Capital Appreciation CA$H.

ie I am NOT Trading4Living.I'm trading to get beyond my Day2Day.

anyhow,it's Sunday.

the day where there's lots of places open to hear unconstructive nonsense.


Even 'til Jaded.

Dig for the sake of it.

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ivor
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Friday, October 09, 2009 - 01:12 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hello Dug - some info in reply.

How do I feel about BOL.
I don't have any feelings one way or the other. No room for emotion in the share market. It's strictly a cold, hard, calculating business.
And no place for the faint hearted.

Have sold BOL today for what I bought it for, 55c, along with some other shares I've been holding. A regular clean out. And all up a small profit.

Have now placed the money somewhere else where it may do better.

But here's something for you to ponder -

"PLAISIR DANS LE MALHEUR D'AUTRUI"

This is not the most appealing aspect of human nature.


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dug
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Friday, October 09, 2009 - 01:45 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Pleasure in the Misery of Others,is that a translation?is that how you "analyse" how I am?

ivor,you show emotion in your picking of household name,blue chip shares.
you also show emotion in your attitude of Not applying Stop Losses combined with a method to Hold 'til break even.
both a la this current BOL play.Emotion is that you are unwilling to admit to being WRONG.

pal,i was just trying to "guide" you from not bringing Misery Down on Ya Blessed Self thru your naive and amateur attitudes to d'Tough World that is the ShareMarket.
My apologies that my method was taken as confrontational,or patronising or gleeful in ya newbie status.
i can only say,ivor ya got it wrong again.

get back to us if/when you buy shares again,whatever.


Even 'til Jaded.

Dig for the sake of it.

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ivor
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Friday, October 09, 2009 - 04:08 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Dug - "S'IL VOUS PLAIT NE PRENEZ PAS UNE INFRACTION.
NE PENSE PAS QUE VOUS ETIEZ A PEAU MINCE."

I'm still very interested in your opinions.

You and all the other people in the forum have convinced me to use stop losses from now on.


In fact I have cleaned out a lot of old stuff from my portfolio today, only keeping the shares on an up trend.


Cheers from Ivor.


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hershy
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Friday, October 09, 2009 - 06:58 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Guys I have been known to drop the occasional foreign sentence from time to time. Et oui mois ausie, je parle francaise mais we'd better keep this one going in English.
Ivor I would never have thought Dug was indulging in shadenfreude but he does lack some finesse, he does !
I agree you needed a dose of reality.
Dug is uttering truths, truths that will hold you in good stead.
But pray tell, why did you sell out of BOL ?
Did the nasty old man scare you into it ?


The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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ivor
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Hershey - thanks for your interest. I find the forum of great benefit, and have learnt a lot as I have already stated on this thread. Am interested in ALL comments, good bad or indifferent. From anybody that wishes to contribute.

I'm trying to switch from investing to trading. I enjoy trading rather than investing, and any and all information I can get is beneficial.

Have taken advantage of the market index increase this week to unload 10 or so shares because thay came up to break even or better. BOL was one of these. Only kept 6 shares that were trending up.

I'm Setting up a new trading system next week with a fresh start including stop losses etc.

And I'm more than willing to listen !!


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ivor
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Saturday, October 10, 2009 - 09:43 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hershey - I'm after some information. You obviously work through a lot of different charts in the course of a week or so. My questions are -

1. What decides whether you look at a chart in the first place. Do you have a list of companies, or do you look for an event such as a sudden spike in volume, price etc.

2. Is there some indicator that you use for your initial screening such as MACD or SMA etc., that you feel works better than the others.

Up til now ,I've always started with a trailing P/E between 4 and 12 or so, and just trawled through a list of suspects, adding lines of support and resistance , looking for flags, triangles etc. Then I check fundamentals eps, dps, roe, net debt, and so on.

But I'm looking for a new method of operating.

P.S. All and any other comments will be appreciated from other forum readers.

Thank You
Ivor


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hershy
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Salut Ivor,
Happy to answer your questions but I have to tell you that from your posts I get the impression that what you do is working and you should not fix something that is not broken.

I start out by looking for charts where the EMAs are in descending order i.e 5 above 15, 15 above 28, 28 above 150. That gives me a chart in an uptrend and trading with the trend puts the odds in your favour. Then I look for weakness as I do not like trading breakouts. Once a low is formed, I have my support levels and as the price action is not far from support my stop loss can be quite low, allowing for a larger position.

I do not use indicators in selecting charts to look at but I may use them to drill down to shares that suggest further potential MACD is good but I like CCI and Slow Stochastic.
The reason I like CCI is that it too has patterns just like the price charts and for example a H&S in the CCI chart is a very powerful signal. Do a google search for Woodies CCI trading method.
I do not use volume enough in my analysis and that is a mistake.

Usually I look at daily charts of around 4 months. To get a better picture I will look at a weekly 3 year chart and I find equivolume charts quite useful as I do line charts.
Trend rend supports are crucial to my style of chart examination.

I recall reading somewhere many years ago the following:
"Sell on the first lower high, enter on the first higher low." You'll be surprised how many charts will give credence to this bit of advice.

I do actively search for Head and Shoulder, Rounded bottom, Flag and Cup'n holder patterns. Triangles and wedges just appear without looking for them.

But again Ivor, don't change what you do, refine it. There is no magic formula, no indicator that is the holy grail.
Work with what you are comfortable with.
I believe that success in trading is not about being right or wrong. It is about identifying an opportunity, planning the entry and exit and executing the plan without emotion.
Cut your losses and let your profits run.

If you enjoy trading, you must be very disciplined. Google swing trading, that will give you the buzz, the excitement and the thrill of trading. it's short, intense and can be very rewarding. There are far better traders in this forum than me. Seek out Brother Hilarius.


The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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ivor
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Saturday, October 10, 2009 - 12:03 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hershy - thanks for the info.

Have had another look at BOL, maybe should have kept it.
Looks like a buy again.
Think I'll buy it back again next week with a target of 65c or thereabouts.




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ivor
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BOL - stats




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dug
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Sunday, October 11, 2009 - 08:11 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Ivor you're white background chart above does NOT indicate a Triangle Pattern.You've "browsed" the Concept and "forced" d'action into parameters.
Thus you are NOT looking at a Breakout and are not being TA signalled to enter {IMHO]

ivor trend lines/verticals are subservient to support/resist=Horizontals.Your Downtrend line has NOT been broken so it's for d'Ignore.
IF there is any pattern evident in BOL it is perhaps a Cup and Handle.However the Volume during Formation does NOT support seeing this C'n'H as "probable".
Again Entry is "advised" IF the lip/horizontal line is Broken.


my reading is that BOL has returned to Resistance ie one should wait to see if it's broken,miss the couple of cents as d'price of not taking a risk that it'll wallow or worse plunge down.ie forgo the couple of cents[greed]on the premise even of ya could get it cheaper/lower priced soon.

also a tip 4ya ivor.TA is not a sideline skill that you tack onto basic FA like PE Ratios.One does not browse for indicators/patterns and then try to apply the good bits without a through understanding of the Provisos like in the Triangle Pattern Breakout is Preferable in the 2/3 rds part NOT at the very pointy end[look it up for clarity]

Also a Basic Trend Line gets Validity/Confirmation by at least 2/3 hits.Above your's hangs in Mid Air ie it's just not Right.It's WRONG,useless for decision making

much like talking in bleeding FRENCH!!

Happy Trading


Even 'til Jaded.

Dig for the sake of it.

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ivor
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Sunday, October 11, 2009 - 04:53 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Dug - "BONJOUR MON AMI"

I take your point about the pattern breakouts. The breakout is best about 2/3 down the formation.

Perhaps I'm trying to fit the pattern to my preconceptions of what is likely to happen.

Will take your advice and sit and watch what transpires.

"MERCI DE PARTAGER VOS CONNAISSANCES"


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captain_chaza
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Monday, October 12, 2009 - 07:27 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Sorry Ivor
BUT
Have I missed something?

Could you please point out for me Dug's last/latest success/story /stories?

I Reckon you have shown that a Newbie to this forum is not necessarily a Newbie to the Share market
AND that
Not all Oldies are Goodies!

Beware of anyone who can't afford the Latest up-to-date data and charting services

There must be a Reason?

Salute and Gods' speed


(Message edited by Captain_Chaza on October 12, 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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ivor
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Tuesday, October 13, 2009 - 06:16 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hello Captain Chaza
- Nice to meet you and thanks for your support.
But I'm a bit over talking about Boom Logistics, not much of a share anyway, so put my money into MMG and some more into MLB. Think they'll do a lot better at this stage.
Regards
Ivor.


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ivor
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Wednesday, October 14, 2009 - 04:16 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Dug - is this the same share we were talking about -BOL.

You know, the one that wouldn't make its target of 65c in the near future.

Correct me if I'm wrong, but perhaps it was forming a triangle after all.




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hershy
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Wednesday, October 14, 2009 - 07:34 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Mon Cher Ami,
Go easy mon pettit, T/A is very subjective. I did not see a triangle either.
Unlike Dug, I did however see potential in BOL. But I am surprised at the speed of the breakout and I could have been wrong and Dug right.

Anyway, so now you've got a H & S but it is very broad, isn't it ?


The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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dug
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Wednesday, October 14, 2009 - 09:01 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



ivor,
didn't i lay out a series of resistance levels that IF they got broken would trigger a more "efficient" buy?

I don't like BOL but if i did i gave you my method of TA for setting a Buy Trigger.I saw you floundering with half knowledge of triangles and just gave ya some words of "advice".
ivor,won't be bothering no more;you buy/hold til breakeven to ya hearts content.
cjeerio.

charles-pull ya bleeding snide,snipy head in ya POSEUR!!
got a new computer and haven't transferred my membership chart wear over yet.does that answer ya poncey/poxy jibe ya prat!!
buzz off glory BOY!!


Even 'til Jaded.

Dig for the sake of it.

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ivor
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Thursday, October 15, 2009 - 08:54 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Dug - we all take a haircut from time to time, particularly if we stick our head out.

And hindsight is a wonderful thing.

If TA was that easy, we'd all be millionaires.

I'm still interested in your opinions, as well as the opinion of everyone else who takes the time to post an opinion or suggestion.
But no one is omnipotent.

The share market is no place for emotion.
It's just business.

"TELLE EST LA VIE"


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ivor
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Saturday, November 21, 2009 - 02:37 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



BOL

Poked it's head up from the .385c support line with volume.
Lot cheaper than before.
Maybe worth another look ??
What about a comment from the digger ??
Where are you ?? Long time no hear.

Regards
Ivor





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ivor
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Saturday, November 21, 2009 - 02:55 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



BOL

Retail entitlement offer of 1 for 1 at 30c
Taking oversubscriptions up to $15.000.
Record date 23/11/09 at 7.00 pm AEDT.
Sounds cheap to me.

Ivor


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hershy
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Saturday, November 21, 2009 - 04:20 pm:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



That was a 45% correction in 4 weeks. And I don't know it it's over.

Hope you're not holding. Support @ 35.




The big money in stockmarket investment is not made in the thinking, itís made in the sitting.
My advice is worth exactly what you pay for it so do your own research.

http://members.optusnet.com.au/~hershy/

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ivor
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Sunday, November 22, 2009 - 09:31 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Hershy

No. Putting BOL in the discard bin with DVN.
Don't live up to their potential.
Too many excuses for poor performances for mine.
BOL only valuing their own shares at 30c.
On thinking about it, 35c sounds about right value.

Regards
Ivor







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dennis_menace
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Thursday, June 03, 2010 - 09:59 am:Edit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Bid for Boom

BOOM Logistics chair John Robinson has reportedly received four takeover proposals in the past 12 months, but has notified authorities of just one, which was rejected.

Yesterday, Archer Capital and crane operator the McAleese Group declared themselves the holders of just under 11 per cent of the company with a 52c-a-share bid on the table.

The combination is a perfect mix of McAleese's operational knowhow and Archer's financial skill.

Now, with the stock closing yesterday at 30c a share, it seems time Boom chair Robinson had a talk to his bidders to set the rules for the auction.

 
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