RWD - Reward Minerals

pattyp · 4 June 2008

gfresh said:
To be honest, I'm a little surprised RWD is not priced much much higher presently, being one of the supposedly largest untapped Potash sources in Australia - and no other potash producers here.

I 100% agree with u GFresh... The mind Boggles!

Right now RWD has a monopoly, and by production will still have a monopoly within Aus...

The price will eventually reflect the situation...

Pat

PS. See the NA performance... Aussies are just slow to warm up.

pattyp · 5 June 2008

Haven't posted a chart in a few days... Here is my latest...

Love the RWD chart... Seems to be very "Text Book".

In my opinion anyway

Pat

tech/a · 5 June 2008

Bruce

Is there a price chart in there?
--------------------------------------------------------------

kenny · 5 June 2008

Nice chart Pat but could you post a quick guide on what it displays for fools like me please?

Cheers,

Kenny

pattyp · 5 June 2008

kenny said:
Nice chart Pat but could you post a quick guide on what it displays for fools like me please?

Cheers,

Kenny

Kenny - Start here....

http://www.market-harmonics.com/elliott_wave1.htm

"Elliott's main discovery was that market behavior could be identified and measured through a repeating eight wave sequence, consisting of 5 waves that he called "impulsive," followed by a 3-wave "corrective" sequence. Impulse waves are labeled numerically 1 through 5, corrective waves are labeled A, B and C, as per the following example"

pattyp · 5 June 2008

tech/a said:
Bruce

Is there a price chart in there?
--------------------------------------------------------------

LoL - I know... I got very carried away... U gotta admit that its pretty

I find it amazing how much the price has bounced around on the trends in the grid... And also how nice the Elliott Wave(s) have developed...

Looks to have broken free of the down trend (Closed outside twice) ... Though promptly reversed with a PERFECT shooting star...

Still... I believe its out of the danger-zone for a 5-wave bear trend...

Feeling optimistic at this stage.

Pat

tech/a · 6 June 2008

Bruce.

While the larger count I agree with---

You need to do some work on your Elliott Wave.

2 of the most basic rules in Elliott theory are not followed in your labelling.
(1) Wave 4 cannot fall below Wave 1
(2) Wave 3 cannot be the shotest wave.

May I respectfully suggest you read

Dynamic Trading By Robert Miner.
ISBN 0-934380-83-X

For more advanced reading.
Breakthrough Strategies for Predicting any Market.
Geoff Greenbaltt
ISBN13 978-1-59280-59280-268-5

For Software the most advanced in my view is Advanced Get.
Tad expensive for most.

pattyp · 7 June 2008

tech/a said:
Bruce.

While the larger count I agree with---

You need to do some work on your Elliott Wave.

2 of the most basic rules in Elliott theory are not followed in your labelling.
(1) Wave 4 cannot fall below Wave 1
(2) Wave 3 cannot be the shotest wave.

Ah yes - Fair enough! Bit sloppy of me...

Have without a doubt read the "basics", but admittedly I am not as thorough as perhaps should be when drawing up charts... Its my guide not my gospel. Likely stems from the fact I don't short-term trade - Therefore less care is taken.

Anyway, have already posted my DCFs and opinion on the Potash markets in Aus. and abroad, so nothing further to add from me. I'll rely on and leave it up-to your expertise hence forth.

Please keep the ASF RWD crew up-to-date with the shorter term picture.

Cheers.
Pat

kenny · 10 June 2008

Back from the weekend to find such a welcoming market.

Thanks for the link Pat. I learn something every time you or tech/a make a post. Usually revolves around how much more I need to learn.

Cheers,

Kenny

pattyp · 13 June 2008

I had no intention of posting anymore RWD charts - But I just cant help myself... Love it too much...

Looks awesome, volume picking up, RSI trending up, MAs never crossed and are also trending up again... Price WELL outside down-trend.

I'm calling it... EW-5 is upon us... 250c min. target before the next correction... in my opinion.

Cheers,
Pat

PS. Can't keep a quality stock down - Even in a bad market.

gog246 · 14 June 2008

Can the ew 5 be manipulated , i posted this on another forum but would like your opinion
As much as I was expecting the rise & volume & welcome it but why did it happen on fri with no ann, bit of a surprise.
Was there a meeting with the Martu people & a few loose lips or was it BNB money gone RWD way or drilling results elsewhere
or the placement has happened & the shackles have been released & this is where the sp should have been a few weeks ago but was held down artificially.
The world's potash company's share price has gone up almost daily while rwd has gone side wise , are we now looking for a correction the other way (north), for a company so close to production of a unique product & only new company producing in the next 5 years should we expect the sp to be ?
Would appreciate other thoughts out there .

adamim1 · 16 June 2008

Looks like a breakout today... 2.23!!!!

I'm glad i bought more in the lows a few weeks back.

Anyone have charts?

Sean K · 16 June 2008

adamim1 said:
Looks like a breakout today... 2.23!!!!

I'm glad i bought more in the lows a few weeks back.

Anyone have charts?

Looks pretty good. No targets from me on this break. Just going up, up. Looks like some spec money flowing back to poo in the short term. Nice work if you're buying into the dips on this current bull sector.

pattyp · 16 June 2008

Its looking pretty good Ladies and Gents...

Though I am strangely averse to LARGE jumps like this one... Too often get sold into in a big way...

Love RWD... Was Biggest no-brainer at any price under 200c... If you had a little patience and some guts

Good Luck, hoping it holds the 220s into close.

YaY RWD!

Pat

pattyp · 16 June 2008

OMG - This is ridiculous...

245c and 20%^

Speeding ticket and/or trading halt soon one would expect...

Pat

YOUNG_TRADER · 16 June 2008

Well the RWD share price has finall passed MAK's

Although I think MAK's Mkt Cap is still much larger,

Anyhoo after buying a swag around the $1 mark I finally took some profits today with my goal being to get a free carried position,

Another no brainer for a re-rating from the $1 level

YOUNG_TRADER said:
I was picking up some around $1 early April I remember

As I have said as well its hard to compare RWD to MAK, ie just because A does something doesn't mean B will, RWD is Potash and MAK is Phosphate, 2 different commodities both Agriculutre but different

I was a little bit surprised at the volatility of how it dropped below $2 then shot back up then dropped towards the close, might be getting pushed around me thinks

shaunm · 18 June 2008

Wow another strong day for RWD.
For those that know how to do the T/A is this run likely to cotinue and have we found support well and truly over 2.10-2.20, or does the whole fibonacci thing sugest retrace to around $2.
Enjoyng the ride but ot fully understanding it.

Sean K · 18 June 2008

shaunm said:
Wow another strong day for RWD.
For those that know how to do the T/A is this run likely to cotinue and have we found support well and truly over 2.10-2.20, or does the whole fibonacci thing sugest retrace to around $2.
Enjoyng the ride but ot fully understanding it.

Faster they run up the less technical support on the way down. There are some bad examples of that kennas theory, but it's usually the case.

Here's a chart with some random blue lines on it perhaps representing some support on the way back down. Just not sure how strong they will be, but expect a bump here and there.

RSI has been a little overbought but coming down on this chart and not out of the stratosphere. ADX in May was saying downtrend but just starting to move up through 20, maybe, indicates a new trend, which would be up. Have to wait and see on that one, as it's jumped up above stochs which is a short term trading sell signal.

So, anything can and will happen!

Been a great pick up since the land owners decided money was better that culture, which was a no brainer.

pattyp · 18 June 2008

pattyp said:
Looks awesome, volume picking up, RSI trending up, MAs never crossed and are also trending up again... Price WELL outside down-trend.

I'm calling it... EW-5 is upon us... 250c min. target before the next correction... in my opinion.

If you look back to my previous chart (I'll post a new one later)... I feel that it needs to fall back inside (Or at least closer to) My Wave-5 uptrend... Looks over-bought, but it also still looks/feels way under-valued.

Cheers,
Pat

pattyp · 18 June 2008

Ok - For what its worth (Obviously nothing) here is my chart and my opinion...

It totally blew away my previous Wave-5 channel but has neatly created a wider channel for us to work from...

Looks to be playing out my Wave-5 very well (Tech correct me if I'm wrong) but looks like we have hit sWave-3 within the larger Impulse.

Price from here IMO will close the gap at 204c, reject the 200c support (200c is conveniently approx. the Fib 50% zone retrace from recent high 245 / low 150).. Hence complete sWave-4, move into sWave-5 and possibly target 270c...

Or we may get some news (Good or Bad) that throws everything I have posted here out the window... LoL!

Just my guess anyway...

Pat

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