Unfortunately your stop may get hit early, even during pre open if the market reacts terribly to the news out of the USA on Saturday. I hope not but the market hates uncertainties and the herd may get nervous, if you bought in above 7.0 cents then you may need to hold for a little while before you will see a profit however if you are long term then who cares you will be laughing all the way to the bank. Bring on production l say!
PEN - Peninsula Energy
- Thread starter dingos
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This recent move is merely a Dead Cat Bounce from a precipitous Pump and Dump Crash.
Check the chart, it's Deja-vu All Over Again from May '08!
The Weekly MACD has NOT confirmed a LT buy signal by crossing above it's centerline.
The 50 SMA has NOT Golden Crossed the 200 SMA.
Friday's high = significant Fibonacci resistance.
The 200 SMA = 5.6c and there's a GAP @ 5.2c if you're after a short term target/support.
5.0c also represents 50% of the recent run, so hardly an unrealistic target...
However, the elephant in the room is the GAP @ 3.0c
Also, the price of Uranium is flat-lining...
2.5c must be retested and hold to provide a solid base for the next Pump and Dump!
Deja-vu Weekly Chart -
Golden Cross MA/Fibonacci Retracement Resistance Chart -
:bananasmi
tech/a
No Ordinary Duck
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That's what it's for.
I have no concern for news or speculation factual or otherwise.
If momentum moves against my position I'll gladly be stopped.
End game is purely numbers
For me and trading
Reward exceeds Risk
Keep on the right side of that
Equation and trading is simple.
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Great stuff tech, textbook trading. All the best on Monday, although I'm thinking there will be a fallout due to some fundamentals.
tech/a
No Ordinary Duck
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If there is so be it.
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Yes, and we will see what the market thinks of all this kerfuffle tomorrow.
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Are you suggesting the SP will open at 3c? From memory there are 3 gaps on the way down. I resisted the urge to buy on Friday, one of the rare occasions that I get it right with PEN I suppose.
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"kerfuffle"
Hmmmm, sounds like imminent...Fukushima anniversary is 4 weeks away!
:bananasmi
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Come on, I 'may' have negative leanings re nuclear energy but I don't foresee Armageddon over this...
No, I don't think it'll open @ 3.0c
:bananasmi
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Link? Can't seem to find the news that you're talking about.
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Looks like HS was right, everything is ok today, boosted by management's assurance that all is still well. Gapped down but about to fill back.
tech/a
No Ordinary Duck
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Stopped.
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Thanks...
Today's Bearish Harami Cross, broken RSI trendline and largest red volume in at least 6 months indicates to me that the shark has been jumped...
"In an uptrend a long white day occurs. The next day's gap down comes as a surprise to bulls who thought they were sitting on a great position the previous day"
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