CBH - CBH Resources

[Freeballinginawetsuit]

Crazy Canuck ,

Still believe its as simple as profit taking after long runs and as sellers outweigh buyers, momentum turns. Once momentum has swung the mad rush comes out to lock in profits. In the case of your charts obviously the candles indicate this although they could quite easily have swung another way, especially in ZFX's case. Look at the charts pre the October run, apart from ZFX being oversold and accumalated, they never looked the goods chartwise, then they just ran. Fundamentals just catching up in my opinion!

Still of the opinion its as simple as the stocks you quoted were overbought,overextended and once sellers outweighed buyers momentum turned, long overdue in my opinion. But ZFX is a strange one to anticipate at the best of times. .

By the way Nick Radge seems to be something of a guru on ASF, has he helped youre trading and profitability!.

Cheers.

 

[Freeballinginawetsuit]

In addition Crazy Canuck,

As previously mentioned, the 7th of November was inevitable, pretty much every stock pulled back. In the case of CBH it was an outperformer of the general market (obviously considering Zn ATM) and hence the pullback left room for significant profit taking.

Its interesting that this Friday is indicated by a decent buying candle on youre chart, a lot of punters re-entered the market on Friday, myself included.

Friday's long tail and strong volume indicate buying support in the marketplace in general, and a reversal in the market is likely. This is my opinion and a rise above Wednesdays high on the XAO would confirm this.

I'm pretty bullish on commodities, especially the materials sector in general and consider its lagging the All Ords (only because of BHP/RIO etc), and also believe their is quite a bit left in the Commodities boom yet. . Money Flow (21-day) is above zero and trending upwards, signaling long-term accumulation, again another indication that the market is bullish in general.

 

[CanOz]

Agree Free that Friday was a good day with sellers backing of and buyer pushng CBH off the low for day. With Zinc down 3%+ i don't see how that will be carried through. Fortunatly i don't have any yet as i was not going to get back in until the trend resumed.

Nick Radge has definately helped me. I don't think i would be trading by now had i not subscribed to his website.

Cheers,

 

[nizar]

Fortunatly i don't have any yet as i was not going to get back in until the trend resumed.

Neither do I. I will wait for a clear uptrend.

Canaussieuck - thanks for the kind words the other day. You are giving me FAR too much credit. I sold simply because i thought the US markets would collapse after the midterm elections and cause a correction here as well. And also because the run was starting to get too vertical to be sustained. Like i said, after May, the more paper profits im sitting on, the more uncomfortable i come and the more vulnerable i feel.

I actually REALLY wanted to sell on monday but was hesitant. So when tuesday (the day before elections) was a US rally and zinc spot up, i had no hesitation to pull the trigger. I missed the open which was 85c and then the price dropped cent by cent and by noon was 81c. Closed flat for the day.

As you say freeball and i agree, the fundamentals for zinc or CBH havent changed. But every bullrun has corrections.

Thanks for the charts CanOz.

 

[Out Too Soon]

Informative reading, thanks all.: :
I'm looking to re-enter CBH, KZL & ZFX but wondering about the timing, I suppose everyone is.

 

[nizar]

Informative reading, thanks all.: :
I'm looking to re-enter CBH, KZL & ZFX but wondering about the timing, I suppose everyone is.

Im gonna wait until a break of all time highs.
The best entry signal iv found. Price moves up much quicker after that.
Im especially looking at ZFX from the 3.

 

[michael_selway]

Informative reading, thanks all.: :
I'm looking to re-enter CBH, KZL & ZFX but wondering about the timing, I suppose everyone is.

how about PEM?

thx

MS

 

[Out Too Soon]

I'm back on CBH now, see what happens.
Michael I'll look at PEM, don't know anything about it. Thanks.

 

[magoo]

Good price action so far for CBH today.
Anyone here looked at CSE?

 

[olive_tree]

I've looked at CSE and like what I see! A bit of info over at
http://www.sharescene.com/index.php?act=ST&f=16&t=3350

 

[michael_selway]

I'm back on CBH now, see what happens.
Michael I'll look at PEM, don't know anything about it. Thanks.

Well PEM is a Zinc Producer, thats all you need to know

Thx

MS

 

[dj_420]

CBH got a great article in resource stocks magazine this month, as well as afr. so bit of media coverage has helped their comeback. CBH were oversold on charts last week or so and saw a nice recovery to com back current sp. this is common accross the board for zinc stocks.

metal prices got a nice strong push on close last week. should be interesting this week, copper bounced back to help support zinc and should hopefully hit some new highs this week.

 

[itchy]

well there back up to 80 and holding strong!
lets hope they can push to new highs!
i was a little nervous before, now im just anxious to see them go!

 

[michael_selway]

well there back up to 80 and holding strong!
lets hope they can push to new highs!
i was a little nervous before, now im just anxious to see them go!

yep amazing stuff!

thx

MS

 

[CanOz]

Nice gap today......will it be filled shortly though? It hasn't NOT filled any on my chart.

Cheers,

 

[dj_420]

zinc stocks down a little today. not sure why resources have been hit so hard, spot copper and zinc prices held well on pullback and are now increasing again.

dow was down 2% but metal prices have remained fairly strong overall. prob some short term consolidation for zinc stocks in general. IMO with copper bouncing back zinc has lifted and fundamentals are still there at least medium term.

last couple of weeks there was a lot of concern for copper, however reports indicate that demand for metal still remains strong, and there is now concerns on supply again.

i think we have seen a short term sell off, but if metal prices stay up we should have another run into christmas.

 

[CanOz]

Nice gap today......will it be filled shortly though? It hasn't NOT filled any on my chart.

Cheers,

The GAP is filled now with the low of the day .76
Cheers,

 

[nizar]

Im still very much at a beginner stage when it comes to reading charts but is that a double top?

 

[dj_420]

Hey nizar

i dont see a double top, for a double top to form the sp would have to retrace to around 65 - 70 cent mark. in my opinion the sp broke support week or so back found a large amount of support and has pushed it back up to resume the uptrend.

see the similarities in trading channel that sp was trading in before breakout and retrace.

 

[dj_420]

Here is the trading channel patterns im talking about. shows similarities to old trend. what i would like to see now is a more steady rise that continues in to form this new trading channel.