Australian (ASX) Stock Market Forum

CBH - CBH Resources

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Yeah it would be nice if the top of the current trading channel will act as a support for the new channel.
 
dj_420 said:
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.
Click to expand...

Maybe DJ, but tenuous. I don't think I would call that a trading channel, or range. All the action has occurred over a month, and there's too much volitility in there to be 'chanelling'.

I can't see much of a channel at all at the moment. Just a couple of support lines and maybe a pennant. It's consolidating ok at the moment, and watch for a break through $0.80, for continuation of the up trend. Cheers.
 

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CanOz said:
Heres another chart showing Zinifex. I must thank Nick Radge for enlightening me to the idea of Volume Spread analysis, and his FREE e-book you get when you join. But again its the sellers that won day here, same as CBH. I could go on, they're are allot of stocks that did the same on the day but i'll get too far off topic....do we have a thread on the art of the exit?

Anyway Free keep your opinions coming, i like your viewpoint.
Click to expand...

to add to the debate, and no offense:

if you held this approach on zfx over the last two years you would have missed on a lot of profits. i initially bought into these and have been following them since ascending triangle break of 2.21 two years ago, am quite experienced in tech / a, and am continually amazed at zfx'x ability to ignore all sell indicators and continue charging ahead. there are a few more that come to mind (pdn. kzl etc).

post us your next exit point before there has been two weeks in your favour. anyone can explain on an old chart.

in many other stocks (and market times for that matter) i would back you up and agree, however the fundementals and support patterns of these stocks the past year and a half has been an eye opener. The week i used to wait for my trend confirmations used to cost me 10% every time in these stocks.

your exit strategy shall last a lifetime however, whereas benefits of bottom pickin these market winners shall come to an end one day. when that day comes i shall go back to buy and exit strategies and breakouts similar to the ones you use.

we all know zinc is goin up, and uranium for that matter. why not buy after the stock has been nailed by profit takers ??

does anyone have any backtesting software?? an interesting event would be to compare trading between buying on corrections / profit taking vs bying breaks for zfx, pdn, and kzl the past year and a half. bet i know which would perform the best :rolleyes:

i still trade breaks for speckies!!! i am only refering to the big market winners over the past two years with unbelievable fundemental backing.
 
nizar said:
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.
Click to expand...

heres an idea: as you guys are posting candle charts and seem to know your stuff....why not buy on the first reversal day after a correction? that way you are not catching falling knives and you are getting on the profit choo choo much earlier :) all friendly chat
 
mildew79 said:
to add to the debate, and no offense:

if you held this approach on zfx over the last two years you would have missed on a lot of profits. i initially bought into these and have been following them since ascending triangle break of 2.21 two years ago, am quite experienced in tech / a, and am continually amazed at zfx'x ability to ignore all sell indicators and continue charging ahead. there are a few more that come to mind (pdn. kzl etc).

post us your next exit point before there has been two weeks in your favour. anyone can explain on an old chart.

in many other stocks (and market times for that matter) i would back you up and agree, however the fundementals and support patterns of these stocks the past year and a half has been an eye opener. The week i used to wait for my trend confirmations used to cost me 10% every time in these stocks.

your exit strategy shall last a lifetime however, whereas benefits of bottom pickin these market winners shall come to an end one day. when that day comes i shall go back to buy and exit strategies and breakouts similar to the ones you use.

we all know zinc is goin up, and uranium for that matter. why not buy after the stock has been nailed by profit takers ??

does anyone have any backtesting software?? an interesting event would be to compare trading between buying on corrections / profit taking vs bying breaks for zfx, pdn, and kzl the past year and a half. bet i know which would perform the best :rolleyes:

i still trade breaks for speckies!!! i am only refering to the big market winners over the past two years with unbelievable fundemental backing.
Click to expand...

As you point out, hindsight is a wonderful thing. I exited CBH too late, but having the advantage of hindsight i would have been much better hanging on for sure (or adding ), its nearly back to where it was, and its above where i sold. As i only have so much capital for trading, i need to exit so as to apply my capital elsewhere.

I think the best way for me to do this (improve my exits) would be to apply EW theory, which i intend to do when i have more time to study it. I also look for price action to tell me when to sell, hence the topic of conversation regarding Nizar's exit of CBH and ZFX.

At the moment i'm happy trading breakouts etc., learning as much as possible, all while trying to make a respectable expectancy.

If your happy to hold, and your system has not given you sell signals then, well done. I would be very interested in learning more about your plan and strategy. Perhaps you could start a new thread.

Cheers,
 
was not havin a dig mate. my exit strategy is very similar to yours, i am very much a tech trader. in recent times i have however adjusted my strategy for the market winners (kzl, zfx, pdn etc). i see aditional profit advantages in buying these first pivot day after a correction (for now anyhow).
 
i dont see it as to bad, sellers arent willing to push the sp down to much, just need a sustained zinc spot price and this one will break through its resistance after consolidation period.

look at JML, its woken up after a couple of weeks consolidating. IMO we may start to run again on ann about SS BFS. nothing about this company has changed, KZL was down yesterday also. when CBH produce some bumper profits market will sit up and take notice.
 
i sold down half my holdings couple weeks ago, jumped on JMS on first leg up, so more than worth it. now im just waiting for CBH to break through resistance at 80 cents to bring my holdings back up.
 
Possibly influenced by the increased stockpiles at LME? There have been a few of these positive days in recent weeks...maybe a few people are starting to get a little jittery? Nothing to worry about IMO, stocks still historically very low, and prices very high...makes for fantastic profit growth for producers.
 
MalteseBull said:
how come CBH and KZL are both down if Zinc price is up?!
Click to expand...

Zinc price was actually off 3c/lb (1.7%) last night to US$2.05/lb. Stocks also gained 800t to 87kt - the second consecutive day of inventory gains. Nothing to worry about IMO, maybe we're just starting to see some price elasticity of demand at these levels. Either way, buyers can't hold out forever.
 
rwkni1 said:
Zinc price was actually off 3c/lb (1.7%) last night to US$2.05/lb. Stocks also gained 800t to 87kt - the second consecutive day of inventory gains. Nothing to worry about IMO, maybe we're just starting to see some price elasticity of demand at these levels. Either way, buyers can't hold out forever.
Click to expand...

I've been waiting to get back in to CBH & KZL but just hasn't happened. Back into Jabiru JML today, much bigger upside now. :)
 
zinc stocks are well down today, i think ill hold through this one though, only have half my holdings and if i take these ones off market ill be taxed on my gains. ill wait till turnaround and jump back on when we get an upswing.
 
CBH - takeover rumours:

2315 GMT [Dow Jones] After mega-merger of zinc smelting assets with Umicore (UMI.BT)
next year and plenty of cash likely from IPO of new entity on Euronext, the question now
is what will Zinifex (ZFX.AU) do with the money. Zinifex says it will expand mining
operations - meaning acquisitions are highly likely. Others in the sector on the ASX
include Kagara Zinc (KZL.AU) with market cap A$1.5 billion and CBH Resources (CBH.AU)
with market cap about A$565 million - both would be easily affordable to ZFX with current
market cap A$8.5 billion. Also, market rumours of tie-up with Oxiana (OXR.AU) likely to
re-emerge - OXR has A$4.4 billion market cap. ZFX shares up 5.6% early at A$18.36 vs
record A$18.74 set earlier this month. Press conference at 0000 GMT (11am Sydney time).
(GFM)
 

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