CVN - Carnarvon Energy

johannlo · 5 August 2009

Agreed Carpal which is why I only reduced, not sold all of my position Been trying to reduce my position anyway without getting scared out of all the specs I have faith in, sooner or later there must be some kinda correction to the recent run.

Waiting for more obvious signals before I re-enter. Too green to understand this elliot wave stuff but if say I see a morning star or everything golden crosses then I'm in again

Miner · 5 August 2009

eddyeagle said:
Anyone got any thoughts as to why CVN is languishing while the rest of the market and POO is up? Did it just too hard too fast???

For CVN holders and aspirants this scrip looks like searching for more and more bottom whild should find more oil to keep investors happy.

Unfortunately Bell Potter has repeated its Sell signal (DYOR as BPS said SELL FMG and actually FMG went up and up since then)

On 4th August BPS said SELL repeating its recommendation to SELL made in June

Both reports are attached

Disclaimer : DNH

sukebe · 6 August 2009

Patersons has revised their recommendation on CVN today to BUY with a target of 0.76. The following words have been added for no purpose other than to meet the minimum character requirement

Garpal Gumnut · 6 August 2009

Miner said:
For CVN holders and aspirants this scrip looks like searching for more and more bottom whild should find more oil to keep investors happy.

Unfortunately Bell Potter has repeated its Sell signal (DYOR as BPS said SELL FMG and actually FMG went up and up since then)

On 4th August BPS said SELL repeating its recommendation to SELL made in June

Both reports are attached

Disclaimer : DNH

sukebe said:
Patersons has revised their recommendation on CVN today to BUY with a target of 0.76. The following words have been added for no purpose other than to meet the minimum character requirement

May I please ask you guys NOT to buy or sell CVN, or any stock for that matter on a brokers' recommendation.

In the 80's I was fortunate to sit in on a morning meeting at one of Rene Rivkin's broking meetings.

The decisions to make a buy or sell recommendation were laughable.

They still are.

Look at the success rate of the above brokers over the last 18 months.

gg

kenny · 6 August 2009

Garpal Gumnut said:
In the 80's I was fortunate to sit in on a morning meeting at one of Rene Rivkin's broking meetings.

gg

I'm sure you could tell a few stories over a beer that would turn us off brokers for life. Sadly, I suspect the forum might cop some flak if we asked for some to be told here.

Cheers,

Kenny

panikhide · 7 August 2009

Garpal Gumnut said:
May I please ask you guys NOT to buy or sell CVN, or any stock for that matter on a brokers' recommendation.

In the 80's I was fortunate to sit in on a morning meeting at one of Rene Rivkin's broking meetings.

The decisions to make a buy or sell recommendation were laughable.

They still are.

Look at the success rate of the above brokers over the last 18 months.

gg

gg, thanks for that good advice. You may be right, but brokers' recommendations are an important consideration, because they can influence a stock's price as there are sheep (I mean intelligent investors) out there who follow them.

johannlo · 7 August 2009

Not looking pretty on the chart from my newbie eyes

I was hoping yesterday's doji star would indicate a reversal is on the cards but today went the opposite direction. All other indicators seem to be poor - strong negative DMI confirmed w/ ADx above 30, the SMA and MACD crosses all in the wrong direction.

Descending channel looks to continue unless something happens. doh

Garpal Gumnut · 7 August 2009

johannlo said:
Not looking pretty on the chart from my newbie eyes

I was hoping yesterday's doji star would indicate a reversal is on the cards but today went the opposite direction. All other indicators seem to be poor - strong negative DMI confirmed w/ ADx above 30, the SMA and MACD crosses all in the wrong direction.

Descending channel looks to continue unless something happens. doh

Mate you always need to include volume in your assessment.

I haven't looked at CVN tonight, but all I can see is it hugging previous support at 60c.

The indicators are confusing.

gg

Miner · 7 August 2009

It has been interesting to see the postings on CVN. Some provided mixed signal some provided hope.
GG's comments on broker advise was excellent. But I think you meant broker's advise made in public. If they do not advise correctly then all sophisticated investors will be penniless and start brokering themselves.

On serious ground the brokers IMO try to manipulate market with their public opinions so that the herd of sheep gets sucked into to make their direct clients getting prosperous.

Share market is normally robbing Peter to pay Paul.

Sorry nothing on CVN because this share is going no where now

magnale · 9 August 2009

Why such pessimism? This is a splendid company and we should be in it for the long haul .. well that is my opinion and I've been in it for a long time

Garpal Gumnut · 14 August 2009

johannlo said:
Not looking pretty on the chart from my newbie eyes

I was hoping yesterday's doji star would indicate a reversal is on the cards but today went the opposite direction. All other indicators seem to be poor - strong negative DMI confirmed w/ ADx above 30, the SMA and MACD crosses all in the wrong direction.

Descending channel looks to continue unless something happens. doh

Garpal Gumnut said:
Mate you always need to include volume in your assessment.

I haven't looked at CVN tonight, but all I can see is it hugging previous support at 60c.

The indicators are confusing.

gg

Miner said:
It has been interesting to see the postings on CVN. Some provided mixed signal some provided hope.
GG's comments on broker advise was excellent. But I think you meant broker's advise made in public. If they do not advise correctly then all sophisticated investors will be penniless and start brokering themselves.

On serious ground the brokers IMO try to manipulate market with their public opinions so that the herd of sheep gets sucked into to make their direct clients getting prosperous.

Share market is normally robbing Peter to pay Paul.

Sorry nothing on CVN because this share is going no where now

magnale said:
Why such pessimism? This is a splendid company and we should be in it for the long haul .. well that is my opinion and I've been in it for a long time

All quotes are reasonable, though as I've said above.

Stick with this little nugget.

If it drops below 60c. Then run.

A chart

gg

ktrianta · 19 August 2009

Garpal Gumnut said:
All quotes are reasonable, though as I've said above.

Stick with this little nugget.

If it drops below 60c. Then run.

A chart

gg

It dropped below yesterday, but back above today, so is it time to run according to the charts? I cannot tell from the charts myself but it is looking shaky.

growing · 19 August 2009

ktrianta said:
It dropped below yesterday, but back above today, so is it time to run according to the charts? I cannot tell from the charts myself but it is looking shaky.

They released promising news on the new 50/50 venture with SUR, that may be providing upward pressure .. If this Joint Venture shows results, this stock would be great in the long term.

eddyeagle · 19 August 2009

Interesting chart this one. Cup and handle anyone?

The movements in the last few months actually look similar to what it did at the start of 2008 ie. a sharp fall, followed by a slower fall. In 2008, it then bounced about 75% in the space of a couple of months, so it will be interesting to see where it goes from here... Hopefully not under 60cents!

Rob 17 · 20 August 2009

NSE-J1 & J2 development wells were drilled by june 29. Both wells experienced significant fluid losses while drilling through target zones. Testing was to commence shortly. Its been over 6 weeks since this annoucement and no results yet.

I got a feeling there going to be really good or really bad.

DYOR

johnnyg · 21 August 2009

Garpal Gumnut said:
If it drops below 60c. Then run.

gg

You bolted yet CG? I think CVN is setting up for a great buying opportunity. Ill be watching closely for signs of strength coming in.

Garpal Gumnut · 21 August 2009

johnnyg said:
You bolted yet CG? I think CVN is setting up for a great buying opportunity. Ill be watching closely for signs of strength coming in.

Gone mate.

I'll be back in if it regains an upward trend though.

I am a bit concerned when oilers throw out reports as a share price tanks.

gg

baboon · 23 August 2009

des said:
leaving hopeful optimism aside, i reckon there could certainly be more downside in the short term. on the bright side, the daily chart seems to be tracing a bullish falling wedge pattern that was confirmed a few days ago with another reversal at 69. the way i see it, a break above the return line would see a minimal target of $1.05 whilst a downside break would see a return to 45. this is less likely as cvn has respected the 30wma several times and this is tracing a path which would consolidate the support line on the wedge.

i am a former holder but have none currently. i wouldnt make a decision on this one until it does one or the other myself. comments welcome.

Might be a bit optimistic but does it look like this is a bullish falling wedge pattern forming? As time goes by the volume looks to be dropping as well. For upward movement it would need to break the upper trend line with significant volume.

glendem2 · 27 August 2009

glendem2 said:
CVN hsve been on a SELL signal since the beginning of July when the share price broke through support at 77c. I am still waiting for the shares to find a floor BEFORE BUYING. 60c is the next support and if that gives way look for support in the 53-55c region. After that it is all the way back to 44c. CVN seems to like round numbers like 44c, 55c, 66c, 77c and 88c.

A weekly close above 73c will change the direction of the stock. In the meantime, I am waiting for the downturn to play out for another 4-5 weeks and look to BUY at 55c around the end of August/ early part of September

Looks like 55c may be on the cards in the next few days. A break below 52c and the shares will quickly fall back to the 40-44c area. I'm still going to wait for the shares to find a support level it can hold for at least 3 weeks before I place a BUY order. Traders may wish to place a Buy @ 53c for a bounce back up to 58c, with a stop loss @ 52c

Garpal Gumnut · 27 August 2009

glendem2 said:
Looks like 55c may be on the cards in the next few days. A break below 52c and the shares will quickly fall back to the 40-44c area. I'm still going to wait for the shares to find a support level it can hold for at least 3 weeks before I place a BUY order. Traders may wish to place a Buy @ 53c for a bounce back up to 58c, with a stop loss @ 52c

I'd look at buying in again when it hits 37.5. Its in a definite downtrend at present with lower lows and lower highs.

gg

CVN - Carnarvon Energy

johannlo

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sukebe

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ktrianta

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