PEN - Peninsula Energy

[Garpal Gumnut]

Chalea, your TA on PEN though rudimentary, is correct, but not for the reasons you give.

Less indicators, more price and volume, and humility and something new, to the feast, would serve you better.

Any old idiot with a program, the internet and an ability to cut and paste, can post as you have.

I do. And I recognise my idiot state on TA.

However when the spellin-challenged Tech/a posts, I listen and watch, as cohonas don't depend on spellin nor indicators.

PEN will probably fall, and I will have to make a decision whether to bail at a small loss or stay for the future prospects.

Your analysis is not going to make an iota of difference to my decision.

gg

 

[Chalea]

Flicking through the news this morning and thought these would be of interest -

"...BHP Billiton Ltd will delay uranium production at the Olympic Dam mine expansion in South Australia as a result of the Fukushima nuclear disaster in Japan and ensuing uncertainty about the future of nuclear energy..."

Link

And

"Areva's first half results show immediate impact from the Fukushima accident and Germany's new nuclear policy...

...Cancellation of orders for uranium and nuclear fuel came to €191 million ($273 million) in recent months, with many Japanese reactors remaining offline and German utilities moving to accommodate Chancellor Angela Merkel's order to shut down eight units...

... Another €700 million ($1.0 billion) in orders "present a risk of cancellation or renegotiation" for Areva, the company said in results for the first half of 2011."...

Link


Question - Have NuCore been reading the papers and seen PEN's chart recently?

 

[Chalea]

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

I beg to differ...

How do you explain the emphatic almost bearish engulfing reversal candlestick this week.

Every man and his dog was calling "breakout" last week!

The bearish rising wedge has broken out instead...

Target = 4.9c approximately.

Weekly RSI didn't confirm last week's breakout, instead showing a bearish respect of it's center line.

The over bought slow stochastic confirms the wedge break out by showing a bearish signal line cross.

In my humble opinion...

 

[$20shoes]

I beg to differ...


Weekly RSI didn't confirm last week's breakout, instead showing a bearish respect of it's center line.

The over bought slow stochastic confirms the wedge break out by showing a bearish signal line cross.

In my humble opinion...

You do realise that price action has caused your squiggly lines to do that, don't you?


NOW as an exercise - REMOVE all indicators and lines from your chart.
GOOD. Now look at the chart. The price action has done the same thing, right? Nothing has changed regardless of whether your indicators are part of your chart or not. The market does not adhere to anything but the market. Your indicators show a smoothed average of what happened with momentum/price IN THE PAST. That is all they do. Nothing more.

Now ask yourself why the price action remains the same when you remove your indicators. Now ask yourself what use are they in helping you exploit a good risk to reward trade over and over and over again.

 

[hangseng]

Flicking through the news this morning and thought these would be of interest -

"...BHP Billiton Ltd will delay uranium production at the Olympic Dam mine expansion in South Australia as a result of the Fukushima nuclear disaster in Japan and ensuing uncertainty about the future of nuclear energy..."

Link

And

"Areva's first half results show immediate impact from the Fukushima accident and Germany's new nuclear policy...

...Cancellation of orders for uranium and nuclear fuel came to €191 million ($273 million) in recent months, with many Japanese reactors remaining offline and German utilities moving to accommodate Chancellor Angela Merkel's order to shut down eight units...

... Another €700 million ($1.0 billion) in orders "present a risk of cancellation or renegotiation" for Areva, the company said in results for the first half of 2011."...

Link


Question - Have NuCore been reading the papers and seen PEN's chart recently?

Yes the Simpsons educated are alive and well.

I was slated for stating BHP would not proceed with the Olympic Dam uranium expansion and the ERA delays and the high probability Camecos woes with Cigar Lake would continue. All of these will place pressure on the demand side and the U price will rise accordingly...IMHO.

BHP don't want to bring attention to themselves so they point to Japan and a perception view, yeah right. Look internally IMO.

This won't last IMO and demand will turn around once reality kicks in that reactors are being built worldwide and energy demand is building rapidly. The answer is clearly nuclear power and will be. Not windmills, geothermal, waves or solar although they form a part of the equation as does coal.

Back to sleep Bart...

 

[Chalea]

You do realise that price action has caused your squiggly lines to do that, don't you?

Now ask yourself why the price action remains the same when you remove your indicators. Now ask yourself what use are they.

Well it's been a week and I'm still waiting for the first 'crayons' reference - although "school" & "apprentice" will do for now :nono:

Allow me to enlighten you -

In another realm PEN is spruiked within an inch of it's life.

Many of the spruikees rely on TA in order to make a living.

Here is a definition of TA -

"Technical analysis is a broad name given to the study of a company via its trading activity (versus fundamental analysis, which studies the balance sheet etc.) of a company. Over the years, mathematicians and traders have used the pricing activity of stocks to derive formulas that assist in determining the underlying intentions of the trading/investing participants. Link

So you see, I do "realise that price action has caused your squiggly lines to do that"...

But do you realise that many of the other realm's spruikees will sell PEN without a second thought based solely on "squiggly lines"?

Well, you can maybe add a touch of management/other realm spruiker induced disillusion to the mix.corn:

 

[Chalea]

All of these will place pressure on the demand side and the U price will rise accordingly...IMHO.

Newsflash, hot off the presses LOL...

"explorers in the south Indian state of Andhra Pradesh have found one of the world's largest deposits of uranium. "

:holysheep:

 

[hangseng]

Newsflash, hot off the presses LOL...

"explorers in the south Indian state of Andhra Pradesh have found one of the world's largest deposits of uranium. "

:holysheep:

Rossing South also massive.....when will they be online and supplying the market?

What is the cost to recover the India deposit?

I will be long out of PEN before either of those two have any effect on supply/demand.

You wil have to do far better than that Bart.

 

[madjohn]

http://www.bloomberg.com/news/2011-...5-trillion-economy-as-komatsu-sharp-walk.html

 

[Chalea]

I beg to differ...

How do you explain the emphatic almost bearish engulfing reversal candlestick this week.

Every man and his dog was calling "breakout" last week!

The bearish rising wedge has broken out instead...

Target = 4.9c approximately.

Weekly RSI didn't confirm last week's breakout, instead showing a bearish respect of it's center line.

The over bought slow stochastic confirms the wedge break out by showing a bearish signal line cross.

In my humble opinion...

Short term rectangle support failed this week.

Pattern target shows a test of $50/the Fukushima crash low is imminent

 

[Chalea]

Short term rectangle support failed this week.

Pattern target shows a test of $50/the Fukushima crash low is imminent

 

[tech/a]

PEN
A technical view.

Click to expand

 

[Chalea]

Short term rectangle support failed this week.
Pattern target shows a test of $50/the Fukushima crash low is imminent

I'd say uranium's Fukushima $50 = PEN's 6.0c line in the sand.

Drop below and you've got quicksand...

 

[Chalea]

Agreed, an easy call. Sell the news will see 6c revisited IMO

The hourly chart shows a bearish rectangle pattern.
Approximate Target = 7.1 - ( 7.7 - 7.1 ) = 6.5c corn:

 

[tech/a]

With regard to the rectangle analysis offered up for PEN

Range of a few bars equal rectangle ???!!!
A very very very long bow.

Some reading for you.
http://stockcharts.com/school/doku...._analysis:chart_patterns:rectangle_continuati


Its a long way to trading proficiently and profitably with T/A.
Around 10000 hrs is often toted. The vast chasm between
THEORY/HYPOTHESIS and Practical application is rarely bridged.

I have witnessed many who have been where you are.
Few ever make it.
BOGGO and SKC are a few on this forum you may wish to follow.
There are others and as they say the cream always floats to the top.

Enjoy the journey.

 

[Chalea]

With regard to the rectangle analysis offered up for PEN
Range of a few bars equal rectangle ???!!!
A very very very long bow.

You'll soon see that it's "A very very very" good call though...:bananasmi

 

[tech/a]

DJIA down 98
Genius

 

[Chalea]

DJIA down 98
Genius

You obviously have very little experience trading in penny dreadful stocks.

The DJIA could be up 980 points but PEN would, (and will), still fall through the floor.

Sentiment is everything...traders will sell and sell and sell...

If you were a swing trader why would you put a buy order in over 6.0/6.1c?

Look at your own chart, and then recall my target!

 

[tech/a]

Thanks

 

[tigerboi]

Thanks

im telling joe thats a low content post...for a low stock..