PEN - Peninsula Energy

[tech/a]

Hey GG....I feel you are jumping to the defence of tech/a.....he can stand on his own 2 feet.

Seems folk knock W D Gann.....I had already seen repetition in PEN.....Is reassuring to know lengendary traders as W D Gann prove repetition in stocks is cyclic............Rock on sub 2 cents

Larry Williams (When in Australia) Challeneged David Bowden (Safety in the Market) To out trade him using Gann.
The bet was 1 million.
Bowden wisely declined.

Here is some lite reading.
https://www.aussiestockforums.com/forums/archive/index.php/t-13871.html

Is reassuring to know legendary traders as W D Gann prove repetition in stocks is cyclic

I love Gann experts.

They are Drivel professionals.

Could you just put up the evidence of proof for/of Cyclic repetition in stocks.
No hurry when you dig it up. Oh hind site just wont do.

Perhaps 10 charts with 10 Cyclic Pressure points which are coming up.
We will see how many are hit. Ill even give you a few days before and after the "Date"

In fact Ill give you $100 for everyone you get right (Well Ill donate it to Joe and ASF).
I'm sure you'll do the same for everyone wrong--after all it is about being right---RIGHT?
Should be fun and highly profitable for Joe.

The path to profit will reveal itself when your good and ready.
Long time off by the look of things.

Good luck.

 

[Garpal Gumnut]

Hey GG....I feel you are jumping to the defence of tech/a.....he can stand on his own 2 feet.

Seems folk knock W D Gann.....I had already seen repetition in PEN.....Is reassuring to know lengendary traders as W D Gann prove repetition in stocks is cyclic............Rock on sub 2 cents

The feeling amongst the pensioners on HC is that it will fall next week, some on there say to 2c. It may be time to look at another entry on the long side.

I will be up early, at least 8.45am, to have a Gann-der at the open, here in Queensland.

gg

 

[Karlos68]

tech/a.....I dont give a toss if you think Gann is a fraud......Ive seen the crap that can be trawled up by Google search...Even rubbish discrediting Fibonacci.....A chartist who I feel is pretty awesome is El Capo, he nailed 7.5 cent high earlier in year. A half arsed conspiracy theory that surfaced from the PEN threads on HC feels El Capo is connected with Citi and manipulated PEN to hit 7.5 then drop which in turn gave him an impressive reputation on Hot Copper



Was slurping on a few cold brews while drawing my Fib Fan chart yesterday.
Love PEN. Full of repetitive movements.
Have picked up a pattern beginning 2008/2009. Approx 9 month divisions showing significant lows. Even divided to 4.5 month spaces shows lows.
As Fib Fan broadens, time increases to reach high and low trendlines.
With combination of broadening fan and 9 month divisions....My forward prediction is a dip in Feb 2013 and final low for this cycle in June/July 2013.

 

[tech/a]

tech/a.....I dont give a toss if you think Gann is a fraud......Ive seen the crap that can be trawled up by Google search...Even rubbish discrediting Fibonacci.....A chartist who I feel is pretty awesome is El Capo, he nailed 7.5 cent high earlier in year. A half arsed conspiracy theory that surfaced from the PEN threads on HC feels El Capo is connected with Citi and manipulated PEN to hit 7.5 then drop which in turn gave him an impressive reputation on Hot Copper



Was slurping on a few cold brews while drawing my Fib Fan chart yesterday.
Love PEN. Full of repetitive movements.
Have picked up a pattern beginning 2008/2009. Approx 9 month divisions showing significant lows. Even divided to 4.5 month spaces shows lows.
As Fib Fan broadens, time increases to reach high and low trendlines.
With combination of broadening fan and 9 month divisions....My forward prediction is a dip in Feb 2013 and final low for this cycle in June/July 2013.

View attachment 50163

Ill start saving my $100 for next October then. (When the final low for the "Cycle" (June/July) will no doubt be clear.)

Looking forward to your next 9 cycle calls.

Nothing points to prediction with fib.
Its simply a number series. Not everything---including price
conforms to the sequence.
In Mathematics there are many sequences.
Just as there are many ways of finding "Pressure points" with Gann.
A wonderful tool in hindsite
but in real-time trying to trade with it is an entirely different matter.

But hey will fill in countless hours of idle time and if you can find a coach
keep you investing in the "grail" for years.

Carry on.

 

[Garpal Gumnut]

Gann returns from the dead and gets a job for the NFL.

From The New Yorker

Make bull**** complicated and it will be believed by someone.

gg

 

[dengo]

bull****

 

[Garpal Gumnut]

View attachment 50167

I did say a remote possibility.

And I agree, it may be incorrect.

However the "close" PEN followers are predicting a fall in price, so I shall be watching for a long entry on any signs that I am correct.

gg

 

[dengo]

...remote possibility of .065 on the weekly...

Weekly RSI has just broken through support...previous three occurrences haven't been positive...

 

[Garpal Gumnut]

Weekly RSI has just broken through support...previous three occurrences haven't been positive...

View attachment 50172

Thanks dengo.

However.

I would never buy or sell on an rsi, or an other indicator for that matter.

Price and Volume mate, price and volume.

gg

 

[hja]

I take it you don't like Fib but use Elliott.

Isn't Fib like Elliott, a kind of mathematical sequencing analysis used to judge human behaviour?

Ill start saving my $100 for next October then. (When the final low for the "Cycle" (June/July) will no doubt be clear.)

Looking forward to your next 9 cycle calls.

Nothing points to prediction with fib.
Its simply a number series. Not everything---including price
conforms to the sequence.
In Mathematics there are many sequences.
Just as there are many ways of finding "Pressure points" with Gann.
A wonderful tool in hindsite
but in real-time trying to trade with it is an entirely different matter.

But hey will fill in countless hours of idle time and if you can find a coach
keep you investing in the "grail" for years.

Carry on.

 

[tech/a]

Weekly RSI has just broken through support...previous three occurrences haven't been positive...

View attachment 50172

You really must brush up on your reading of indicators.
The 50 line is NOT support---If you disagree I'm listening.

Trading below the 50 line means that in the last 14 period the stocks losses have been more than its gains.

Seriously your simply looking at a graphical display of past price action.

GG's
Analysis (Price and Volume) clearly shows a whopping sell signal on 9/11 and another lesser signal
but clear on 21/12---weekly chart


As Clear as youll get on the 9/11---22/11 and 19/12 daily chart.

Any sign of pulling up
(A strong high volume range bar (down--as in exhaustion---then low volume buying which closes on highs indicating sellers have exhausted)) perhaps) at around 3 to 2.5c
would represent a good opportunity to see 100% gains at sometime--possibly more.

RSI is just way way too slow particularly weekly to trade these minnows.

 

[dengo]

Price and Volume mate, price and volume.

You mean volume of HC posts Garpal Gumnut?
Here's a few volume links FWIW...

Trend lines -

"Breaks to the downside do not have a volume requirement. As with other bearish breaks, often there is a delayed volume surge."
http://www.leavittbrothers.com/education/chart_patterns/trendline_bearish.cfm

Patterns -

"Breakdowns do not have the same volume or movement requirements as their opposite upside breaks. In fact, when stock breaks support with a massive volume surge, it often signals that of a capitulation sell-off and the stock rebounds shortly after. The best downside breaks occur on average volume followed by the stock drifting lower for a few days on increasing volume."
http://www.leavittbrothers.com/education/chart_patterns/symmetrical_triangle_bearish.cfm

"Downside breaks do not have the same volume requirement as their bullish counterparts. Like other bearish breaks, there often is a delayed volume surge."
http://www.leavittbrothers.com/education/chart_patterns/wedge_bearish.cfm

"As the stock trades lower, concern becomes fear and the selling accelerates. Then fear becomes panic, and people sell regardless of price. This is why there typically is a delayed volume surge with breaks to the downside."
http://www.leavittbrothers.com/education/chart_patterns/head_and_shoulder_bearish.cfm

 

[dengo]

You really must brush up on your reading of indicators.
The 50 line is NOT support---If you disagree I'm listening.

That's all I read...Can't you see the red RSI uptrend line I drew?

 

[Garpal Gumnut]

You break me up.

You run a Lenards.

YOu on Monday have 200 people buying chooks.

On Tuesday 2000 people queue up to buy same chooks.

What price on Tuesday?

Stick to Hotcopper mate.

gg

You mean volume of HC posts Garpal Gumnut?
Here's a few volume links FWIW...

Trend lines -

"Breaks to the downside do not have a volume requirement. As with other bearish breaks, often there is a delayed volume surge."
http://www.leavittbrothers.com/education/chart_patterns/trendline_bearish.cfm

Patterns -

"Breakdowns do not have the same volume or movement requirements as their opposite upside breaks. In fact, when stock breaks support with a massive volume surge, it often signals that of a capitulation sell-off and the stock rebounds shortly after. The best downside breaks occur on average volume followed by the stock drifting lower for a few days on increasing volume."
http://www.leavittbrothers.com/education/chart_patterns/symmetrical_triangle_bearish.cfm

"Downside breaks do not have the same volume requirement as their bullish counterparts. Like other bearish breaks, there often is a delayed volume surge."
http://www.leavittbrothers.com/education/chart_patterns/wedge_bearish.cfm

"As the stock trades lower, concern becomes fear and the selling accelerates. Then fear becomes panic, and people sell regardless of price. This is why there typically is a delayed volume surge with breaks to the downside."
http://www.leavittbrothers.com/education/chart_patterns/head_and_shoulder_bearish.cfm

I can only refer you to my previous post on stock trade volume.

Ignore stock trade volume at your peril dengo.

Volume of positive or negative posts doesn't indicate much, but it tells you how everyman thinks, and brokers ain't any more educated than the pensioners on HC.

Many amateurs become enamoured of rsi a lagging indicator, tells you about last day, week, month etc. not today.

Ignore and I'll probably pick up your scrip on the turn.

Good trading on the rsi.

gg

 

[tech/a]

That's all I read...Can't you see the red RSI uptrend line I drew?

I see.
Thanks.

 

[dengo]

I can only refer you to my previous post on stock trade volume.

Ignore stock trade volume at your peril dengo.

Volume of positive or negative posts doesn't indicate much, but it tells you how everyman thinks, and brokers ain't any more educated than the pensioners on HC.

Many amateurs become enamoured of rsi a lagging indicator, tells you about last day, week, month etc. not today.

Ignore and I'll probably pick up your scrip on the turn.

Good trading on the rsi.

gg

No offence Garpal Gumnut, but I didn't have a clue what you were talking about in that post.
RSI does not lag price, as I've shown in previous charts

 

[Garpal Gumnut]

No offence Garpal Gumnut, but I didn't have a clue what you were talking about in that post.
RSI does not lag price, as I've shown in previous charts

My mistake.

Apologies.

I still prefer price and volume to indicators, leading or lagging.

And a sincere best for your trading.

gg

 

[tech/a]

Your trend lines are drawn conveniently to show in hind site perfect timing.
There are many trend lines that can be drawn within the trends shown.
At the time the full trends could not be known.
So the trades. Wouldn't be as crisp as you have " indicated "

 

[Karlos68]

RSI is just way way too slow particularly weekly to trade these minnows.

Yeah OK tech/a.........if you say mate.......must be true




Heres a chart I did from the previous high. I also sold my trade on that Friday.

 

[tech/a]

Where are you starting your fib fan from?

Can you expand the chart to show start points?