Greynomad99 Weekly ASX review

[Rabbithop]

Everyone should be smiling after this week. New potential buy patterns everywhere. Now the question for us all is whether this is the light at the end of the tunnel - or is it the train coming?

See my thoughts here - https://sharecharting.com.au/blog-example

Good Day to u n all. LOL only my humor...is it that head light of the train coming...Will I be able to swiftly move off its way to October station.
Still trying to stand on the sidelines..maybe will miss some train rides...

 

[Rabbithop]

NST (along with just about every other stock) kicked up this week but it has not yet made any buy pattern - in fact having made its lowest price for 4 years, theory says it still has a high probability of making lower prices.

Hoping n still waiting for no 4...in NO hurry...money is tight to part this month...3 new bathrooms will need full payment on Mon.
New stove, oven n kitchen sink delivery bills arrival. Tues will start the new kitchen project. This July is the most dusty n yucky month for me. Missed out on all lotto millions dollars win so far. Maybe lady luck is with me on last week of July...Where is my Monty mate..

 

[UMike]

Seen it for the first time.
Had a look at the Blog. Interesting.
Bought PNV at "A" Didn't sell at "B" but bought a Shyteload at "C". Lets hope I get rid of some when "D" comes. ;-)

 

[Greynomad99]

Seen it for the first time.
Had a look at the Blog. Interesting.
Bought PNV at "A" Didn't sell at "B" but bought a Shyteload at "C". Lets hope I get rid of some when "D" comes. ;-)

Regretfully, there is no "D" in Elliott Wave Theory but I get your point. The fall today could have been expected but (hopefully) as my updated post says, perhaps it will move up from todays low.

PNV - 25 July 2022 - Robert Norman Share Charting

 

[UMike]

LOL I am not a real chartist.
I like the channel though.
IS quite a bit above my average but need $2.4 to get rid of my initial entry.

 

[Greynomad99]

A great week for trading when you would have been hard pressed to pick a losing stock - although I managed to hold ORI who tumbled following a share placement for a big acquisition. CAR is the only stock i could find this week with a pattern suggesting a potential buy. Anyway, I'm heading to the Outback for a few weeks to knock the rust of my camera and travel writing.
My blog is here: https://sharecharting.com.au/blog-example

 

[Rabbithop]

A great week for trading when you would have been hard pressed to pick a losing stock - although I managed to hold ORI who tumbled following a share placement for a big acquisition. CAR is the only stock i could find this week with a pattern suggesting a potential buy. Anyway, I'm heading to the Outback for a few weeks to knock the rust of my camera and travel writing.
My blog is here: https://sharecharting.com.au/blog-example

Good day and once again Thank you for your weekly post. Looks like a good idea to go away for a short break. Take care, Stay Alert to the weather forecasting of more rainfall n flooding expected.
My opinion, there will be more grieves to come in the market, so for now, I am trying to cull my portfolio on good up days n hold cash.
Just sitting on the sidelines, watching n studying Stocks that I would like to buy/ hold when there is a chance to pick up at extreme low.

 

[qldfrog]

A great week for trading when you would have been hard pressed to pick a losing stock -

Easy, ask the frog:
JAY -12%
BCB -8%
B4P -13%
All last week and all gloriously owned by the frog to smash his returns last week
None penny stocks.....

 

[Greynomad99]

Easy, ask the frog:
JAY -12%
BCB -8%
B4P -13%
All last week and all gloriously owned by the frog to smash his returns last week
None penny stocks.....

Bad luck with your picks. B4P is a new listing which I always suggest punters keep clear of. BCB could come good but it is still in a technical downtrend and potentially Elliott Wave says it could tank, JAY is in a long-term downtrend and needs to break above the high of a couple of weeks ago for a buy signal and its trade is pretty thin some days. However, good luck with them all. While not penny stocks, 2 have very low market cap and that meets my definition of penny stocks.

 

[qldfrog]

Bad luck with your picks. B4P is a new listing which I always suggest punters keep clear of. BCB could come good but it is still in a technical downtrend and potentially Elliott Wave says it could tank, JAY is in a long-term downtrend and needs to break above the high of a couple of weeks ago for a buy signal and its trade is pretty thin some days. However, good luck with them all. While not penny stocks, 2 have very low market cap and that meets my definition of penny stocks.

All systemic trades...

 

[Cam019]

All systemic trades...

What system frog?

 

[Greynomad99]

All systemic trades...

Overall, have your systematic trades shown a profit?

 

[qldfrog]

What system frog?

mine so not a reference:BO trials

Overall, have your systematic trades shown a profit?

FY 20-21 ;yes, last FY (21-22) a disaster and this FY flat/a bit above overall; my discretionary bleeds via options,PM and currency trades
I do not pretend to be an expert.
out of the 5 systems traded, 1 is consistent and seems a winner not millionaire making but beating xnt with consistency:
, so a keeper.
the others well I will see as they develop/age.if they persistently bleed, I will let them go.
I want more than one system at a time with different strategies.
PS: I do not include dividends in this

 

[Greynomad99]

You should try my system - simple and boring but makes good returns when market is moving in any other direction than down. If you use trading software you could go back and check it historically, but as you say don't worry about checking trades this year until about a month ago - and of course the crappy trading conditions might return in the short term. I'll post a short summary of how it works later.

 

[qldfrog]

You should try my system - simple and boring but makes good returns when market is moving in any other direction than down. If you use trading software you could go back and check it historically, but as you say don't worry about checking trades this year until about a month ago - and of course the crappy trading conditions might return in the short term. I'll post a short summary of how it works later.

Keen for any new idea especially if different from already traded ones I got

 

[Greynomad99]

Keen for any new idea especially if different from already traded ones I got

Only consider stocks with a price > $0.10 and a turnover of > $1M a week that have been listed for at least 4 or 5 years.

Look for stocks coming off lows or dips well off the highs.

Draw a downtrend on a weekly chart down the peaks of the downtrend. No peak should break above this line by more than 2%

Buy when price closes above downtrend for 2 consecutive weeks.

Sell when price falls below your stop loss or 2 consecutive weeks below any uptrend price has formed.



Second pattern.

Same as above but look for price to have made a cup and handle pattern (on weekly chart) at a level of resistance and buy when price (on daily chart) closes above that resistance. Some increase in volume should be apparent at the break higher.

These patterns always have a target. Price should rise above resistance by the same distance the bottom of the handle is below resistance. Price may go on to a new target being the distance above resistance that is the same as the distance the bottom of the cup is below resistance.



PNV is a good example of both. It made 2 cup and handle patterns – although the second wasn’t perfect. Note how the first one’s resistance lines up with historical resistance/support levels and the target was the second resistance level – which was a perfect hit.


Enjoy!

 

[qldfrog]

Only consider stocks with a price > $0.10 and a turnover of > $1M a week that have been listed for at least 4 or 5 years.

Look for stocks coming off lows or dips well off the highs.

Draw a downtrend on a weekly chart down the peaks of the downtrend. No peak should break above this line by more than 2%

Buy when price closes above downtrend for 2 consecutive weeks.

Sell when price falls below your stop loss or 2 consecutive weeks below any uptrend price has formed.



Second pattern.

Same as above but look for price to have made a cup and handle pattern (on weekly chart) at a level of resistance and buy when price (on daily chart) closes above that resistance. Some increase in volume should be apparent at the break higher.

These patterns always have a target. Price should rise above resistance by the same distance the bottom of the handle is below resistance. Price may go on to a new target being the distance above resistance that is the same as the distance the bottom of the cup is below resistance.



PNV is a good example of both. It made 2 cup and handle patterns – although the second wasn’t perfect. Note how the first one’s resistance lines up with historical resistance/support levels and the target was the second resistance level – which was a perfect hit.
View attachment 145335

Enjoy!

Thanks i will try to code these and post the backtest.the weather is miserable today so good time for that

 

[Greynomad99]

Almost back to Melbourne after a month with the caravan in outback SA, Qld and NSW. It was great to see the water in the Darling which is about 10 metres above its usual level. at 100 metres wide and flowing at a rate you couldn't keep up with on foot for long, that's a heap of water (about 21 Gigalitres a day I think I read somewhere. Quite a few wildflowers around as well. Anyway, I thought mobile coverage meant basic internet access but alas, no. For 3 weeks we've had very little Telstra phone coverage (as expected) but no usable internet. Unable to check my trades (let alone make any) I decided I'd just let them roll and deal with it on my return. Checking them today showed none that needed to be sold - and I'm pretty much where I was a month ago. A quick look at my watch list shares suggested nothing I'd want to buy at the moment - although a number have fallen back to significant support levels (including the XAO) which means there is some likelihood of a recovery next week. That said, with the US down 1% again overnight, it's hard to see anything driving a local recovery Monday (and the XAO is sitting just above support so it could pull back a little more without upsetting the analysis).
Anyway, I'll try and have a good look at the market this coming week and might have more to say later.
PS: Will clean up and reprovision van over the next couple of weeks for another month long run over to the SA west coast.

 

[JohnDe]

Almost back to Melbourne after a month with the caravan in outback SA, Qld and NSW. It was great to see the water in the Darling which is about 10 metres above its usual level. at 100 metres wide and flowing at a rate you couldn't keep up with on foot for long, that's a heap of water (about 21 Gigalitres a day I think I read somewhere. Quite a few wildflowers around as well. Anyway, I thought mobile coverage meant basic internet access but alas, no. For 3 weeks we've had very little Telstra phone coverage (as expected) but no usable internet. Unable to check my trades (let alone make any) I decided I'd just let them roll and deal with it on my return. Checking them today showed none that needed to be sold - and I'm pretty much where I was a month ago. A quick look at my watch list shares suggested nothing I'd want to buy at the moment - although a number have fallen back to significant support levels (including the XAO) which means there is some likelihood of a recovery next week. That said, with the US down 1% again overnight, it's hard to see anything driving a local recovery Monday (and the XAO is sitting just above support so it could pull back a little more without upsetting the analysis).
Anyway, I'll try and have a good look at the market this coming week and might have more to say later.
PS: Will clean up and reprovision van over the next couple of weeks for another month long run over to the SA west coast.

A few outback travellers now using Starlink. Doesn't cover all of Astralia yet but it has most of SA & half of WA.

Starlink

SpaceX is developing a low latency, broadband internet system to meet the needs of consumers across the globe. Enabled by a constellation of low Earth orbit satellites, Starlink will provide fast, reliable internet to populations with little or no connectivity, including those in rural...

www.starlink.com

 

[farmerge]

Some of you will know me as I'm a recent refugee from the Commsec users forum that closed recently. I publish a brief overview of the market from a charting perspective each week, including details of stocks I've traded and stocks that I think could be going places. Charts and a brief analysis of mentioned stocks are also linked. A number of Commsec users used to find my comments of interest but I understand that won't apply to everyone. For those who want to catch my ramblings they can be found here: https://sharecharting.com.au/blog-example

Good afternoon GN99 I have been trying to find our old mate from the Community days, Mahail. Have you been in contact with him or Xris since those days. I know you two were going to catch up at some stage but the boffins in the former pulled the plug on us before I could get Mahails details. Thanks Farmerge