Outstanding Breakout Alerts!

chops_a_must · 19 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

kennas said:
:whip

EOD chart on this actually looks more significant. LOL. Could be argued to be a very good break, depending on how you draw your resistance lines. Those owning it will probably call it outstanding.

I stand by the earlier call when it was at 58. :

Would have been nice to have a reasonable conversation about it then.

Well... it hasn't done 10% in a day since it was in the 30s. That's why Jimminy I think said you wouldn't realise that unless you followed the stock.

All the conversation about it is in my CSM thread and in the ESG thread kennas.

But to continue, if you are going to take such a hard line against "breakouts", we need to clarify what an outstanding breakout means. What exact percentages are we talking about? That qualifies it as a breakout, and the exact timeframes where resistance needs to be encountered in.

Otherwise we probably need another thread for plain breakouts.

professor_frink · 19 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

chops_a_must said:
Well... it hasn't done 10% in a day since it was in the 30s. That's why Jimminy I think said you wouldn't realise that unless you followed the stock.

All the conversation about it is in my CSM thread and in the ESG thread kennas.

But to continue, if you are going to take such a hard line against "breakouts", we need to clarify what an outstanding breakout means. What exact percentages are we talking about? That qualifies it as a breakout, and the exact timeframes where resistance needs to be encountered in.

Otherwise we probably need another thread for plain breakouts.

perhaps if Jimminy had of mentioned this in the first place, he might have received a better response.

It would be a good idea for anyone that is considering posting in this thread to have a quick look at the very first post made- it will give everyone a good idea of what the thread was intended to be looking at(chart-wise).

It was never meant to be a vehicle for people on the forum to plug a stock they hold when it has a good day, which is exactly how Jimminy's post looked earlier today.

The whole point of the thread was to alert people to companies that had broken out of a long lasting downtrend/trading range, something that I don't think ESG even remotely qualifies for.

Sean K · 19 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

chops_a_must said:
But to continue, if you are going to take such a hard line against "breakouts", we need to clarify what an outstanding breakout means. What exact percentages are we talking about? That qualifies it as a breakout, and the exact timeframes where resistance needs to be encountered in.

I agree, and I think we have gone through this at least three times before while I've been here.

Breakout. Here is a definition:

Breakout: Price of a security emerging from a previous trading pattern. The new price "breaks out" above the high (or below the low) trading pattern lines that enclose all other prices for that security in the preceding period. Breakouts are used by technical analysts to predict substantial upside or downside movement.

So, on the scale of crappy breakout through to OUTSTANDING BREAKOUT (in capitals) we should consider what might make something an awesome breakout. One of the best breakouts that you can imagine. Something OUTSTANDING. Insert other superlatives as desired.

What do you think?

My immediate thoughts are:

Breaking significant resistance either horizontal and/or upward trend line.
The resistance points should probably be have tested over an extended period of time, each time failing. Maybe over weeks and/or months.
The points of resistance should probably number at least three, seperated by time.
The break through the resistance should be a significant percentage and on increased volume. Approximately 5-10%, depending on the previous volitility of the stock. The more volatile, the greater the % gain required.
The break should be measured EOD.
To be confirmed the break should be tested on subsequent days, unless a breakaway gap is present.
Only when the significant resistance is confirmed as support, or the stock significantly runs away, can the break be truly classified as a 'break'.

Anything else?

Or, will we never have a breakout again?

doctorj · 19 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

Chops, I think now there is plenty of content detailing what we consider to be "on topic" in this thread. Kennas has gone to great lengths to explain his moderation.

All future posts that are directed at Kennas on this topic will be deleted without warning. This thread needs to get back on topic - so people, it's time to get back to identifying more Outstanding Breakouts.

Happy trading.

tech/a · 19 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

ALK

Sean K · 19 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

tech/a said:
ALK

Pass.

reece55 · 19 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

tech/a said:
ALK

Nice one Tech, any geo's wanna give us the low down on the drilling results - they look pretty good to me, but I don't profess to be an expert...

Cheers

Mousie · 20 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

LML on commencement of drilling on the Eyre Peninsula.

Jimminy · 20 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

sorry to have created all that kerfuffle people - I now understand Kennas point given the posts from the last few days - so thanks for clarification.

chris1983 · 20 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

AIM is outstanding now. Look at all those buyers. Its fully stacked up to 40 cents. Loving this..news has to be on the way.

Col Lector · 20 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

Straits Resources....making a strong comeback...Does this qualify as a breakout that is outstanding?? Not wanting to cause angst...but constructive comments appreciated. A chart novice..

Col Lector said:
Straits is bennefitting big-time from its exposure to the increasing coal price and its substantial increase in coal tonnage; also antimony/gold in new england coming on stream later this year...to add to existing Au production from Muro in Indonesia. Add also approval pending for salt project in WA; AND increasing copper production (albeit largely & lowly hedged in current year).
A breakout even??? Tentatively I do think so. Kennas?

Sean K · 20 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

Col Lector said:
Straits Resources....making a strong comeback...Does this qualify as a breakout that is outstanding?? Not wanting to cause angst...but constructive comments appreciated. A chart novice..

View attachment 10325

Looks like it's part of a continuous outstanding break to me. People will have different opinions here. I'm not sure what happened at the end of April, but it looks like an aberration to me and I wouldn't consider it to hold to much influence. Maybe. So, I think the break through 4.25 was the initial break. Somewhere in the green circle.

Col Lector · 20 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

The April/May Spike...?>> Positive response to 1stQtr Activities Report & Presentation by CEOat end of april, this & an announcement of new coal concessions increased the SP;
then followed by retirement of the non-exec chairman early May - his 16% shareholding sold thru Austock - hence the volume spike & drop in SP
Confidence recovering...& SP benefitting with CuP & projects close to coming on line. The Tritton takeover by SRL earlier in the year also worked to depress the SP.

Thanks Kennas for the analysis. Be interesting what tommorrow brings.

JustaReader · 20 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

FWL

Waiting on JORC this month. Relatively low heads and the options are looking very attractive.

Sean K · 20 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

JustaReader said:
FWL

Waiting on JORC this month. Relatively low heads and the options are looking very attractive.

LOL

Missed it by a week I think. Broke out at about 23 cents.

tech/a · 20 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

Agree AIM.

Also GGY.
(Kenna's) I know this isnt an all time high but its off a 61.8 retracement
on great volume and great range.
To me its a great breakout.---not quite outstanding.
However in a few days it might be!!

Sean K · 20 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

tech/a said:
Also GGY.
(Kenna's) I know this isnt an all time high but its off a 61.8 retracement
on great volume and great range.
To me its a great breakout.---not quite outstanding.
However in a few days it might be!!

Certainly has potential, but does look a little like it did in mid May when it recovered slightly but continued down. Difference is the volume, has broken 14/15 resistance, so would have to consider it a break out of the downward trend at this stage. Indicators look very good. Damn! another one I have to consider buying. LOL

tech/a · 20 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

Kennas

These are 2 charts I use to help me with trading smalls.
If interested I'm happy to follow the trade and explain as we go the trade from my perspective as an exercise under GGY in the A-Z section.
Elliott (First chart) and VSA.

tech/a · 20 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

Expected INITIAL R/R is 3:1

eclectic_nish · 20 June 2007

Re: OUTSTANDING BREAKOUT Alerts!!

Hey there..

Very interesting charting.....

Does anyone have any views on PRE....its on a downturn
since its breakout and high volume (25 May07)...now dropping
3-5% a day on no news......its could be 0c this time next month.lol..

Thanx all

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