PEN - Peninsula Energy

[tech/a]

Tecnichally, this is probably the easiest TA call to date. High volume, rising sp and breaking a key resistance point. Now sitting on the next resistance ready to break through. If 8.7 breaks and holds then I expect another visit to the teens.

Your taking a purely biased view-expecting a strong rise today on the back of overnight US strength.
There is nothing technically that indicates this will continue much further.
Many mis read volume as strength when in actual fact it can be supply.
Only the next few days can give you a definative answer.
Price is CURRENTLY at resistance zone of .08-.085.

There is nothing easy in analysing a stock technically when in correction.
Low volume on a pullback (Shallow) would be a good thing.
High volume on a pullback --bad.
High volume and going no where--bad.

 

[Garpal Gumnut]

Your taking a purely biased view-expecting a strong rise today on the back of overnight US strength.
There is nothing technically that indicates this will continue much further.
Many mis read volume as strength when in actual fact it can be supply.
Only the next few days can give you a definative answer.
Price is CURRENTLY at resistance zone of .08-.085.

There is nothing easy in analysing a stock technically when in correction.
Low volume on a pullback (Shallow) would be a good thing.
High volume on a pullback --bad.
High volume and going no where--bad.

Thanks for the advice tech.

gg

 

[hangseng]

Over analysing is as bad as under analysing. As Long as PEN holds at or above yesterdays close today then technically I see that as a positive. However I will concede that today there seems to be plenty of supply, more than I would have thought.

That said, I hold firm that "If 8.7 breaks and holds then I expect another visit to the teens. "

If PEN did visit the teens again as above, then I expect some massive resistance at around 10.5.

IMO this won't happen immediately post DFS as some may be expecting. I may be over thinking on this but IMO the sp will be held back by certain parties during the 10 day post DFS announcement period to assess the Nucore buy price.

But that is just the sceptic in me... maybe you are wearing me down tech

 

[tech/a]

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.

Will be a while before new highs---if ever.

 

[hangseng]

Yes I am very comfortable with the buying I did at 6.1 in June and my recent PENOC buy at 4.1 is looking rather healthy now as well. It lifted my PEN and PENOC averages a bit more but thats fine, the profit is all I care about and there is plenty of that atm.

As for new highs. I agree it will be a difficult path now with all the past negative sentiment and media driven fear. However the "herd" changes sentiment and seems to have a penchant for chasing momentum, they never let me down.

This industry isn't going away in a hurry and was supply/demand metrics tip in the favour of U stocks watch the herd come in droves. As usual I patiently await to sell to them when my time comes.

Amongst the bulldust posted on forums, hyped up media driven fear frenzy over Fukushima causing mad panic selling like it was the end of the world. John Borshoff said it best in two ABC statements:

"Fortunately, or unfortunately for the anti-nukes, no deaths have occurred. The media jackals have moved on. Fukushima is relegated to the normal news, or as much as is possible for nuclear to be, hidden in the mid-sections of newspapers."

This was his classic in the same interview and oh so true....

SUE LANNIN: "The thing is, you're dealing with very pollutive, highly radioactive material, so there is a difference between the nuclear industry and the airline industry."

JOHN BORSHOFF: "You just don't understand radioactivity. You've been trained on the Simpsons. There are still classes of radioactivity that people can live with."

I think the market in general and forums are full of posters "trained on the Simpsons" when it comes to U stiocks and they ran a mile, shorters helping it along. Some were smart to do so short term if that was their trading style, other took advantage as I did and held ground regardless.

One stand out comment that came out of the Argonaut Resources presentation at yesterdays Uranium conference in Perth...Loud and clear:

"Demand is Coming...Supply is Not"

 

[skyQuake]

3 Factors as I see it helping PEN.

1. The massive oppies hangover is gone. Hartleys seems to have done selling OAs and OCs, and thus the arbs won't be dumping stock against buying oppies anymore.

2. KEPCO announced yesterday that it would purchase an uranium asset this year. Pop goes Paladin, BMN, TOE, SLX, etc. Sector wide rally.

3. PEN had the advantage of being in a consolidation under 7.7 for a while, so a lot of technical hot money chased the breakout.

 

[Garpal Gumnut]

You would be mistaken...It would take far more than what has been posted here or elsewhere to get me to sell.

Safe to assume the DFS is upon us shortly. I would also assume traders have taken positions accordingly.
Good luck to you all no matter your trading persuasion. Will gg win the July comp?

Cheers
HS

Thanks HS.

As of today I am 19th in the competition. I do hope you are correct. I despair at times of winning the comp.

btw, will you ever sell your shares in PEN, and under what conditions, or will you be laid to rest as King Arthur of old, with PEN scrip upon your chest, no matter how it trades.

gg

 

[MAGADAN]

Nice piece of research by Vintage........The week after next could be interesting.

"On 1st July, Strata submitted its response to the Land Quality Branch (of the WDEQ) technical review of its permit application.

I just checked the WDEQ's assessment rules again - and it has 30 days to respond to Strata's additional information.

So by NEXT FRIDAY, it has to do one of three things - deem the application suitable for publication, deem the application still deficient and request more info from Strata or deny the application.

Based on Strata's excellent track record (in 'reading' agency requirements), and the detailed response they provided, I would think option one (publication) is a high probability.

Publication involves the one month public comment period (as with the DDW Permit - which attracted no comments). Strata has to place an ad in local papers once a week for 4 consecutive weeks - providing details of the project and the deadline date for filing objections to the project.

Assuming the WDEQ deems the application suitable for publication, then the public comment period would extend to around September 1st.

If there are no objections, the Permit to Mine would automatically be executed (as happened with the DDW Permit).

So next Friday a critical milestone for the permitting process - which we should hear about the following week."

 

[madjohn]

As for new highs. I agree it will be a difficult path now with all the past negative sentiment and media driven fear. However the "herd" changes sentiment and seems to have a penchant for chasing momentum, they never let me down.

This industry isn't going away in a hurry and was supply/demand metrics tip in the favour of U stocks watch the herd come in droves. As usual I patiently await to sell to them when my time comes.

So HS when do you think PEN can break new high??Looks like it is better to put money elsewhere if that`s the case??

 

[Chalea]

Tecnichally, this is probably the easiest TA call to date. High volume, rising sp and breaking a key resistance point. Now sitting on the next resistance ready to break through. If 8.7 breaks and holds then I expect another visit to the teens.
HS

Agreed, an easy call. PEN is bouncing between the lower bollinger band and the bollinger MA resistance.
Last week saw below average volume.
Sell the news will see 6c revisited IMO

 

[Donga]

Agreed, an easy call. PEN is bouncing between the lower bollinger band and the bollinger MA resistance.
Last week saw below average volume.
Sell the news will see 6c revisited IMO

Very much doubt we'll see 6c again with the announcements due after DFS, though been wrong before...

 

[hangseng]

btw, will you ever sell your shares in PEN, and under what conditions, or will you be laid to rest as King Arthur of old, with PEN scrip upon your chest, no matter how it trades.gg

Be sure of it gg, when my time comes I will sell without a second thought. As I will if any fundamental aspect falters. Despite what so many erroneously think and so often post, I am definitely not "in love" with this or any other stock.

What I won't be doing like so many others have, is to sell then com on bagging the stock. I will simply Move on and if all goes to plan go fishing on a very long caravan retirement. Be sure of it

 

[Chalea]

Very much doubt we'll see 6c again with the announcements due after DFS, though been wrong before...

PEN needs U to recover. That won't happen until the Fukushima led crash has bottomed and consolidated.

Many months to years away...

Anyone who bought PEN above 10c will be desperate to sell if the SP manages to hit the top bollinger band @11c.

Uranium is toxic. So is the whole Uranium sector...

"Long Term: The market is EXTREMELY BEARISH."

And

""I think the fact that there hasn't been a major reactor accident in the United States for over three decades allows the industry and the NRC to become complacent," Lochbaum said.

Are they just gambling, taking one huge risk with people's lives with these reactors, particularly Watts Bar?

Lochbaum replied, "In some respects, it's the biggest poker game in the country. You're playing high-stakes poker with American lives.""

 

[tech/a]

Agreed, an easy call. PEN is bouncing between the lower bollinger band and the bollinger MA resistance.
Last week saw below average volume.
Sell the news will see 6c revisited IMO

To suggest that price respects a displaced M/A is pure lunacy.
Every stock on the planet respects Bollinger or any other band they are designed around past price action nothing more.

 

[Chalea]

To suggest that price respects a displaced M/A is pure lunacy.

Whatever. The 200 SMA was another major MA acting as resistance that was respected last week...

Crossovers mark important shifts in momentum and support/resistance regardless of holding period. Many traders can therefore just stick with the major averages and find out most of what they need to know. The most popular settings draw charts with a 20-day for the short-term trend, a 50-day for the intermediate trend and a 200-day for the big picture.

Long-term crossovers carry more weight than short-term events. The Golden Cross represents a major shift from the bears to the bulls. It triggers when the 50-day average breaks above the 200-day average. Conversely, the Death Cross restores bear power when the 50-day falls back beneath the 200-day. The 200-day average becomes major resistance after the 50-day average drops below it, and major support after breaking above it. When price gets trapped between the 50-day and 200-day averages, it can whipsaw repeatedly between their price extremes. This pinball action marks a zone of opportunity for swing trades.

 

[alexc2005]

Thanks for that!

Very interesting.

 

[tech/a]

Chalea

Anyone can cut and paste and regurgitate blindy accepted rhetoric.

Few challenge or at best delve into the structure and application of whats being presented.
The novice looks at charts in retrospect and expect that to be true going forward.
If you were a successful technical trader applying analysis and understanding what it is that you actually need to know ---- you and I wouldn't be having this conversation--- albeit limited to "Whatever"

 

[Chalea]

Chalea

Anyone can cut and paste and regurgitate blindy accepted rhetoric.

Few challenge or at best delve into the structure and application of whats being presented.
The novice looks at charts in retrospect and expect that to be true going forward.
If you were a successful technical trader applying analysis and understanding what it is that you actually need to know ---- you and I wouldn't be having this conversation--- albeit limited to "Whatever"

I see no conversation here.
Facts/charts/opinions are being presented. Dismissive name calling is all you offer.

 

[hangseng]

This is the best interaction I have seen for some time.

Chalea you are really pulling out all stops once again. The same rubbish you posted when you were constantly telling the world PEN was going to 2c when it was steadily rising and never stopped until a 1:1000 year event occurred that had absolutely nothing to do with PEN.

You displayed how useless your TA was then and your constant cut and paste TA has once again been picked by astute TA posters.

You were way out of your league on HC and suspended for your blatant attempt to post false negatives. Now you are up against (argueably) some of the best forum TA posters. I may not always agree with tech/a, however if I was to follow TA only I would note his indepth technical information. Before I actually understood TA, I took note of your analysis. Before I realised you simply posted cut and paste analysis and you were mostly wrong.


You are way out of your depth in this forum and I will enjoy watching you get cut to shreds once again by far more astute analysts.

Your inept attempt at fundamental "analysis" here is so wrong as to be comical. You should join the same toilet media that reported on the Japan "TSUNAMI". They were wrong, as you are now.

Welcome back!

To think I actually went in to bat for you once when others bagged you. How wrong I was!

 

[Purd2]

Chalea, you have IMO there. Why would anyone who has followed your posts (particularly elsewhere) be interested in your opinion when you made such a fool of yourself in the past.
I'll respect Hangseng's opinion but not yours sorry.