VRE - View Resources

[Ann]

Company Name: View Resources Ltd
ASX Code: VRE
Shares Isued: 157,643,310
Market Cap: 37.8 Million [as at 31/12/05]
52-Week High: 0.55 on Monday, January 17, 2005
52-Week Low: 0.13 on Tuesday, August 09, 2005
Average Price: 0.1720 (50-day) 0.1803 (200-day)
Average Volume: 564,100 (50-day) 342,800 (200-day)
Principal Activities: Mineral exploration.
Official Listing Date: 24 March, 1988
GICS Industry Group: Materials
Internet Address: http://www.viewresources.com.au/

 

[Kipp]

Positive press release from VRE today Re: Drilling reports. Sadly, as always.. it looks like a few people knew about this prior to today (SP has gone nuts over last couple of weeks).
Pretty hard to go wrong with any Gold stock at the moment.

 

[Ann]

Setting my chart onto log scale for a longer term view, I see it is just at the 'critical' overhead trendline level. It has done a slight retrace but nothing to create too much distress IMO.

 

[GreatPig]

That depends on exactly where you locate your trend line. By my chart, it's already above the trend line, and I'm now waiting to see if it will keep pushing up or fall back between the two trend lines and squeeze into the apex.

Cheers,
GP

 

[Ann]

Quite correct Great Pig,

Your setting appears to be on Semi log. I will put up another chart set in Linear which a lot of people use even with a longer term view. This looks well and truly out of the woods. I only put up the Log scale as an offer of a full and unbiased view of the stock. My first chart was set in linear.

 

[GreatPig]

Ann,

I always use log view, even though I saw a comment once from Daryl Guppy saying that he reckoned linear was better

Log is a bit of a pain in the latest version of AmiBroker, particular with charts that display quite a range of prices. Often when I switch to another version of the chart with some indicators displayed (eg. EMAs or Guppy MMAs), the lines disappear from the screen, and I have to do some very careful manipulation of the position and expansion of the chart to get it back into view. I think it worked a lot better in their older version I started with, as I don't remember this ever being a problem. And you can't overlay volume on a log chart now, whereas you used to be able to (I think it overlayed in linear mode before).

Log is only noticeably different to linear over fairly wide-ranging prices. For smaller percentage changes, they look much the same.

Cheers,
GP

 

[Ann]

Hi GreatPig,

I tend to use log, although I have watched over the last few years, the charts react better on the long term if it is viewed in linear. I think more people are using linear than log. Your comment about Guppy suggesting linear is better would partly explain the reason. I would soundly disagree with him. The contours are far less visible.

I find it very interesting, the difference in our two chart settings as we both maintain we are each set on Log. I took the point of first resistance as yours and yet through the progression of time there is a variation as to the final resting place of the overhead trendline. Variations like these could cause a chartist to come to grief, if the majority of chartists are looking at a different level of support/resistance.

Then of course GreatPig we have the very vexing question of should we be viewing our charts with un-adjusted data. The reason being is that adjusted charts distort the long term price and it may appear there is heavy volume happening at a given price when in fact the heavy volumes can be at a different level of un-adjusted data.

MAE is a case in point, I am looking at currently on another couple of forums. It looks on adjusted data to have huge volumes around the $1.30. When in fact if you look at un-adjusted data, the huge volumes were around the 60c-70c level.

Uuuuurgh! It all gets sooo hard some times. Is it any wonder that charts fail to deliver on occassions.

Ann

 

[zzkazu]

I got on this on the 11th when it triggered a weekly High (0.205); exited on the 4 Jan after profit stop was hit: 41.94% profit.

I could have stayed on but greed has a tendency to eat into profits.



zzkazu

 

[GreatPig]

Ann,

should we be viewing our charts with un-adjusted data

Well my data comes unadjusted from float.com.au, and they're not the most reliable. Some stocks they completely miss or only have limited data for. MAE, for example, only has data from the 23rd Dec 05. No idea why there's none before that. AUX isn't there at all (I wondered with this one whether it was because on a DOS/Windows system "AUX" is a reserved word and can't be used as a filename - I had a problem with that in my portfolio program).

Another possibility with the difference might be the accuracy of the log displays.

Anyway, there are enough stocks on the market that I can work with the ones that are there and look reasonably accurate, which I think is the vast majority. For my short-term trading, the log/linear difference mostly isn't that significant, and my trading system doesn't rely on straight lines anyway (although the trend lines are good for confirmation).

Cheers,
GP

 

[Ann]

GreatPig,

As you say there are so many stocks to choose from but I would suggest a lot of the miners and infotech stock have long histories.

What we need to know when we look at a chart is when and at what price will selling pressure cut in.

I am maintaining MAE's selling pressure is happening now up until the 70c level. Above that it is purely blue sky.

Let's look at VRE between July 98 and July 01. There is NO way this stock hit $30 odd it is a result of adjusted prices but there is a lot of volume here waiting to get reimbursed for their investment. I feel I need to know at what price level this selling is likely to cut in. I, in fact do know the 'real' price for Feb 2nd 2000, trust me it was no where near $ 30.

This is the point I am trying to make. I am not trying to say na na my chart is better than yours, I am trying to find a simple truth in the charts.

 

[GreatPig]

For VRE, the float.com.au data only goes back to early 2002.

Cheers,
GP

 

[Ann]

GreatPig,

A tremendous amount of listed companies have had many re-incarnations, depending on the current fad and fashion of the time.

Miners, biotechs and infotechs are notorious for morphing into different companies.

The ASX has the Official Listing Date 24 March, 1988 for VRE


CHANGES OF NAME FOR: VIEW RESOURCES LIMITED (VRE)
FROM TO
VIEW RESOURCES LIMITED (VRE) 08/04/2002 Currently Listed
SMARTWORLD CORPORATION LIMITED (SWC) 06/11/2000 08/04/2002
IHG LIMITED (IHY) 31/05/1999 06/11/2000
GROWTH RESOURCES LIMITED (GRE) 31/05/1999 [24/03/88?]

As you can see this crowd have been around the block more than once.

When they were supposed to have had that $30 price level they were an infotech IHG Limited (IHY)

I really wouldn't be surprised if a number of other companies you are looking at or holding at the moment have also been recycled. New floats can cost a bomb and getting a decent number of stockholders to invest can be a real challenge unless you have an underwriter with lots of keen investors wanting to participate in IPOs.

 

[GreatPig]

A tremendous amount of listed companies have had many re-incarnations

Yes, I know, but generally I don't have time to go back and look them all up.

I'm happy enough to work with what data I've got, as there are still plenty of stocks to choose from. If it ever becomes a problem, I can always pay for better data.

Cheers,
GP

 

[Ann]

Is everyone getting a tad worried?

 

[Ann]

....and so it goes on......

 

[Cyph]

Well my data comes unadjusted from float.com.au, and they're not the most reliable. Some stocks they completely miss or only have limited data for. MAE, for example, only has data from the 23rd Dec 05. No idea why there's none before that.

MAE was formerly known as CPC (Carpenter Pacific Resources), it just changed its name recently.


Anyway, I guess those nervous nellies may have sold in the recent retrace. It is interesting to note that the oppies have broken resistance at 12c, closing at 13c... the FPOs are lagging behind at this stage and may catch up?

 

[Cyph]

And an 8 month chart which is far as the data goes... at an all time high.

 

[Mumbank]

That's actually not an "all time" high - remember they had a share consolidation a little while back (2004 I think) my 100,000 became 10,000 and I'm a long way behind unfortunately I was on holidays when they dropped quickly and I'm stuck with them. Their all time high was in January 2004 at the post consolidation equivalent of $1.25!!!!!!!!!!!

 

[beach]

Think youll find that VRE options would be at an all time high mumbank.

 

[Cyph]

Yeah, I'm talking about the oppies.. I've only got 8 months of data for them.