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PEN - Peninsula Energy

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barney said:
PEN is still PRE- production, and is therefore potentially subject to "sentiment swings" with its share price ............
Click to expand...

PEN is an over-hyped penny-dreadful proxy for uranium - spot the difference in the charts.

The only "sentiment swings" will be from day-traders!

Don't blink...


 
Chalea said:
4th-August-2011 10:42 PM... the bearish rising wedge's target...Target = (7.6 - 2.4) = 5.2c
Click to expand...

Time to update the short term hourly chart...

Price fell through & closed below the continuation rectangle support line @ 5.7c

Short term target = 5.7 - (6.0 - 5.7) = 5.4c

 
I sat back watch the carnage, made a coffee then proceeded to buy PEN at .05. I was surprised to see the support rally back in so soon, however I had my fill and happy.

Had buys in for other stocks as well that were way oversold as PEN was but missed them all. SSN was a great one waiting at .087/.088 but jumped back very quickly. I was simply too slow.

Whilst some gloat over their charts in an attempt to invoke fear, some actually do something proactive about opportunity.

Should try it sometime...quite invigorating
 
Based on the immediate dismissive attitude to any EW posts in multiple threads, I saw no point in posting a chart based on my OWN EW research. Correct me if I'm wrong, but I do believe I saw a low of 4.9c today. Unfortunately, while there was a bump in the right direction after this low, I'm still very cautious of the whole market and any further price targets.

Sorry Joe (Blow), but sometimes the one-eyed, overwhelming-positive attitude of some shareholders borders on stock spruiking.

If PEN was so brutally dumped after Fukishima, I saw no reason that the same thing wouldn't happen once the US defaulted, triggering "GFC II"... well so I thought. They obviously didn't but the downgrade has had the same effect.

I will be keeping my mouth shut from now on, with regards to any price targets for any stock.
 
hangseng said:
...Whilst some gloat over their charts in an attempt to invoke fear...
Click to expand...

I have never gloated!

'in an attempt to invoke FACT' is more appropriate!
And you wonder why I post...:shake:

What were you attempting to invoke when you were calling 20c+ when the SP was 15c?

Yes, those were the days my friend you thought they'd never end...

What was today's low?

4.9c?

My next chart is "imminent"...

 
Point taken zzaaxxss3401 and I consider myself chastised...in part.

However not one of the chartists predicted the panic driven current events. All views were purely technical, of which by the way in the main I respect here, as mine were fundamental.

Had any of them stated that PEN would go to 4.9 based on .......... (US govt idiocy etc), I would have had more respect in my posting.

All that aside my fundamental views of PEN has not changed. THE single factor that will eventually drive PEN, not the charts. t isn't any of my concern that others choose to take no notice nor have any understanding of PEN's fundamentals, however I base my views directly on them.

Your comments are unwarranted and do this normally quality forum no justice. As I at times get calls wrong, so do you and the many others here, so to come on preaching a higher than mighty view is quite simply aberrant. I have been here many times before and your view means little to me.

You like a few others seemingly have a difficulty with positive thinking people and just love to sink the boot in at every chance. To you et al this is disaster...to me it was simply an opportunity, one I will continue to take should opportunity arise again.


See you at the other end eh...love to have another chat in 12 months time and we will see who was right and who was wrong In 1-2 years I believe I know who will be having the last laugh

So dig away, I care not!
 

With respect, PEN's collapse had nothing to do with the overall market.

All penny-dreadful parabolic pump & dumps finish up where they started.

Some more "imminently" than others...corn:
 
hangseng said:
See you at the other end eh...love to have another chat in 12 months time and we will see who was right and who was wrong In 1-2 years I believe I know who will be having the last laugh

So dig away, I care not!
Click to expand...
Clearly you do care, otherwise you would not have responded.

However... at what point have I said PEN is a useless stock? I simply stated a target price, for which I was anticipating a re-entry. I have held in the past and continue to watch at this stage, along with a number of other stocks. If the share price stays above 3c, then the Options are what I would be buying. If it falls below 3c, then the Shares are the better option. I may even hedge my bets if it settles around 3c. I am very concerned about the EU's debt, the US's debt and the possibility that China may slow it's economy, affecting us. Has it been oversold - probably, like a lot of stocks, but is there still more selling to come... who knows.

As a side-note I have a lot of interest in Thorium as an alternative nuclear fuel... but that's another topic. DYOR.
 
skyQuake said:
Oh really? So the SPI's lunch and arvo rally had no effect on PEN?
Click to expand...

Allow me to remind you that PEN started it's collapse from a peak of 15.5c.

Don't mistake a swing trader inspired gap fill as anything significant.

The same thing happened after Fukushima...

The sooner PEN fills the gap @ 4.0c the better for everyone!

 
Chalea said:
The sooner PEN fills the gap @ 4.0c the better for everyone!
Click to expand...

You can't seriously be basing any sort of analysis on a very very minor gap that is nearly 12 months old. The market has well and truly forgotten about that imo, if it does get filled it is purely a coincidence.

The gap at 6c is the more significant gap (and recent) I would be looking to be filled. Depending on market conditions over the next few weeks a rally back towards 8c wouldn't surprise me.
 

I was under the impression that unsubstantiated SP targets were classified as ramps/down-ramps.

I first called 3.5c three weeks ago and believe that it's imminent...

Bearish descending triangle pattern formed on the hourly today.

Break-down gap filling target = 6.0 - (6.4 - 6.0) = 5.6c


 

If you must call that a triangle it is more like a flag. Upside target is 7.5c based on the length of the last leg up.

Continuation flag target = 6.0 + (6.4-4.9) = 7.5c

It also marries up with the monthly pivot and right back in the consolidation zone... waiting for that much delayed DFS.
 
Chalea said:
If you insist...

Like this one?

corn:
Click to expand...

I don't insist. The flag is the flag. It's a continuation pattern. It doesn't have a 100% chance of continuation however. As I am sure neither is a bearish decending triangle.

BTW great example comparing an hourly flag over a single session to a 2 week fall off after a nuclear meltdown.
 
Curtis Arnold's PPS system requires that for a continuation pattern to be present 18day ma needs to be positive and 40 day ma flat or positive. Doesn't seem this way on the intraday or on the daily.

There is no clear pattern here IMHO. It never ceases to amaze me the attention this stocks get, So many better charts out there.
 
skc said:
BTW great example comparing an hourly flag over a single session to a 2 week fall off after a nuclear meltdown.
Click to expand...

Thank you. A pattern is a pattern, regardless of time frame.

Being an hourly chart we'll see the outcome sooner rather than later.

Still think it's bullish???
 
sammy84 said:
Curtis Arnold's PPS system requires that for a continuation pattern to be present 18day ma needs to be positive and 40 day ma flat or positive. Doesn't seem this way on the intraday or on the daily.
Click to expand...

I'm sure Curtis would know not to bother with daily moving averages on an hourly chart...:nono:

What about a reversal pattern?
You know, the descending triangle?

There is no clear pattern here
Click to expand...

I drew it, look for the two blue lines...

IMHO. It never ceases to amaze me the attention this stocks get, So many better charts out there.
Click to expand...

Don't forget the DFS, it's "imminent"!
 


Yes the monthly is interesting.

While we all wait the monthly chart shows long term bearish divergences between price and MACD/RSI.

Long termers should take note of the volume in March accompanying this bearish signal. Hardly a sign of confidence...

Yet to be confirmed sell signals can be seen with the bearish MACD cross-over and RSI center-line break.

These long term sell signals are not "imminent", 1-9-11, (according to my definition of the word anyway...:shake


Click chart
 
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