PEN - Peninsula Energy

[Chalea]

Well that's the 4.0c gap filled & close enough to "3.5c (approximately)" hit...:thankyou:

Deja vu anyone?

PEN hit the low threes four years ago before bouncing...

 

[tech/a]

Sensible stops mean you limit losses.
As I've advocated through out this thread and many others.
Once you move your stop to B/E your risk is only brokerage.

To watch a massive profit fall from 16c now to 4c is un forgivable
To average down is plain stupid as H/S has.

This thread should be a reference for all traders.
It shows candidly just about every poor trading practice that could be imagined.

 

[Karlos68]

P.S. Is this the 'trend line' you keep referring to?
Your "On Bigcharts.com it shows a potential low of around mid 4 cents" call didn't work out...did you mean 4.0c?

View attachment 44589

I have just had a quick squizz at some various charts.

Trendline C I have just viewed does touch 4 cents on ASB Securities daily and Big Charts Weekly. Lowest version of trendline I can find. I have grave concerns my observations will have to be thrown out the window as I have just viewed Bloomberg and Euro markets are tanking.....bugger....I only hope in the next few weeks you dont say to me Chalea "Whose the man now.......Whose your new God Karlos.....Bet you just want to be like me aye Karlos......blah blah blah"

Trendline still not broken yet Chalea so lets just wait till the fat lady sings

 

[theartglasshouse]

Hope it goes lower...which it will. Good buying at this level and definitely good to top up at these levels. My

 

[Chalea]

...To average down is plain stupid as H/S has.

This thread should be a reference for all traders.
It shows candidly just about every poor trading practice that could be imagined.

With respect, your instructions were crystal clear...

If you have bought (Or bought more) at 6.5-7.3c as indicated in the technical signal at post#1544 then who cares just sit and forget...

 

[tech/a]

For those interested # 1510

And then

Originally Posted by tech/a
Double bottom
Where I'd be buying and where I'd have a stop.
Soaking up the Sun in Venice currently so will have to be a call for the record only.
Sporting a mediterrainian tan I might add----RED.

 

[Chalea]

......blah blah blah...Trendline still not broken yet Chalea

Wasn't a trend line but anyway...where's your new 'line in the sand' Karlos?

2.8c?... see chart

 

[Karlos68]

:rocketwho

Wasn't a trend line but anyway...where's your new 'line in the sand' Karlos?

2.8c?... see chart

View attachment 44626

You were just waiting werent you Chalea:fan



.........Ive been open in my view to provide an observation which I feel is valid and you could just not wait to gain some satisfaction to deflame my contribution I did note HS mentioned a mate sold at 15 cent and brought back at 6 cent. My thoughts to reassess the charts showed the 15 cent sell had probabilities of being predicted due to trendlines that were already in place. 6 cent buy appeared as I had once said the indicators were turning and continued for some.
Considering the dismal market perfomance today I thought PEN held well. PEN appears to not wish to let go of my view of the Trendline C which I feel is valid.

PS Even thou I thought you were a new good friend and I am open minded to your judgement......I still wish you well......Have a good weekend

 

[Chalea]

...where's your new 'line in the sand' Karlos?...2.8c?

You were just waiting werent you Chalea

Always waiting & eager to discuss PEN/uranium Karlos!

What did you think of Monday's BRR? Link

Slightly different to this summery...





"...where's your new 'line in the sand' Karlos?...2.8c?"

Not an unreasonable question...I mean, that's the level of the May '09 placement.

How's this for a scenario? You may bookmark it for future reference...

Price falls to 1.9c, (see chart below).
Extended DFS released, (once Fukushima is forgotten/uranium hits $40).
NuCore pays their $15M @ 50% premium, (1.9c + 50% = 2.8c).
NuCore receives 535,714,285 shares.
PEN announce a 10:1 consolidation, flushing out speculators...:flush:

 

[Chalea]

Were you aware of the Sovereign risk associated with PEN's South African Karoo project?
"A SENIOR South African government adviser says investor worries about nationalisation of the mining industry are justified.
Sandile Noxgina, a former director-general of mines and now adviser to Mines Minister Susan Shabangu, said it would take almost a year for the African National Congress government to decide on nationalisation.
Some have played down talk of nationalisation, which is supported by the hardline ANC Youth League, but Mr Noxgina disagrees.
The concern "is justified", he said yesterday at the Africa Downunder mining conference in Perth."

Link

ANC mulls legislation to supersede mining contracts – official. 23rd September 2011

JOHANNESBRURG – South Africa’s ruling African National Congress (ANC) wants to forge an economy in which its natural resources best serve the country, says the head of the party’s task team formed to study a proposal to nationalise mines.

National needs could take precedence over mining companies’ desire to export so that the country’s coal, iron-ore and other mineral reserves benefit the continent’s biggest economy, Enoch Godongwana said in an inter- view in Johannesburg.

South Africa’s policies should be guided by the extent to which we can use our resources to achieve a number of goals, among them growth and redistribution, Godongwana said.

“Legislation that supersedes any contract you have to ensure the assets meet the country’s needs is an option,” he said. “In certain circumstances, national interest must prevail.”

...The ANC’s Youth League and the Congress of South African Trade Unions, the country’s largest labor grouping and a party ally, say that the ANC will adopt nationalisation as a policy at its national conference next year, and is only looking into the details of how best to do it. The study was agreed to after repeated demands by the youth wing, which is led by the 30-year-old Julius Malema.

The ANC Youth League’s campaign to wrest mine ownership from what it calls a white capitalist elite has caused “an uneasiness from investors, particularly from outside South Africa”...

Link

:microwave

 

[Chalea]

It's a descending triangle continuation pattern with a $40 target...
View attachment 44114

Uranium chart showing $55 support now resistance line & the updated $40 targeting descending triangle...

 

[tech/a]

Loaded up on a few at .044
Stop .035

 

[skc]

Loaded up on a few at .044
Stop .035

Care to post a graph, tech/a?

That's a pretty wide stop. Plenty of resistance at 5c then 6c.. is the R:R worth it? I'd imagine you would move the stop up soon as the SP itself stops moving.

 

[tech/a]

Just a little low risk setup I use when it appears.
Was actually filled at .043c

 

[Karlos68]

Wasn't a trend line but anyway...where's your new 'line in the sand' Karlos?

2.8c?... see chart

Hello my friend Chalea

I still stand that my trendline C is 4 cent low......bugger that it did happen to dip just under.......looking flash today aye mate:bananasmi.....in fact, a few u308 stocks are...big volume too

Indicators at this point have not broken to the upside but if you wish to say "Gee Karlos, i wish I was like you, I bet you have chicks dripping off ya, Can I be ya best friend, can I be................"

Then dont hold back buddy, I do accept apologies for criticism of my views:bier:

 

[Karlos68]

Seen this Karlos?

View attachment 44567

We could banter Aussie Bulls every few days Chalea

See today Aussie Bulls has a Buy Confirmed

Also up 18.92%:bananasmi.........Not bad for one day I reckon

 

[alexc2005]

Just a little low risk setup I use when it appears.
Was actually filled at .043c
View attachment 44680

View attachment 44681

Here i was thinking you were a bit crazy.

PEN looks to open about 9% up.

Bloody hell, i needs me some tech/a skillz.

 

[Chalea]

Also up 18.92%:bananasmi.........Not bad for one day I reckon

PEN is nothing more than a day-trader's play thing.
This move up is a 'Dead Cat Bounce'


The broken uptrend line may be retested before the recent 8.3c - 3.6c crash resumes...
Where's the DFS?...

 

[againsthegrain]

Techa as usual right on the money not sure about all the other white noise

 

[Chalea]

This move up is a 'Dead Cat Bounce'
The broken uptrend line may be retested before the recent 8.3c - 3.6c crash resumes...
Where's the DFS?...

Overhead resistance...:bricks1::bricks1::bricks1:


corn: