trendsta said:Zinc inventory has only risen 10 - 15k since its low in early Dec. According to international zinc group zinc will be in deficit this year. If so, can view current price as low (or close to low) for this year.
Lead will add to the bottom line.
Lastly what will ZFX do with all that cash once smelting operations are sold? If they announce a special dividend it could spur the price.
LeGorfou said:ZFX have gone very quiet on the barge in the Gulf. Has anyone heard anything about when or if it will be back in action or if they have arranged a replacement?
Health and Safety are involved as well - is there any chance that this will delay the barges being back in action?
While Zinc was up last night, overall there may be some negatives ahead.
Kauri said:Barge is in Weipa, electrical problems due to be repaired by weekend, cargo O.K, should be back in service soon. No shutdown of Century likely.
Is ZFX putting in a minor W1, setting up for a W2????
wavepicker said:Quite possible, but could also be from the Jan high a series of 1-2, 1-2, 1-2 and then the point of recognition to follow!!! Take your pick
Cheers
Quite clearly described in EWP by Frost and Prechter, it's the early stages of a 3rd of wave unfolding or subdividing(nesting 1-2 subdivisions). Unfortunately, quite a few Radgephiles are not aware of it. It's the bread and butter of the EW technician. The "Point Of Recognition" is the middle point of the 3rd wave, the 3rd of the 3rd of the 3rd. That is when the crowd finally realizes the direction of the trend, at such times you see gapping and wide ranging bars.Kauri said:What exactly is a 1-2,1-2,1-2. In my younger days I was sat on my bum more then once by a pretty mean 1-2 combination, but I don't think that is what you are referring to.
I try not to pick, rather I let the chart action validate/invalidate.. i.e. if this does turn into a W1 followed by W2, I wouldn't be looking to enter until the W1 high was taken out on price/vol action. What would we be looking for for a 1-2,1-2,1-2??
Cheers
Kauri
Freeballinginawetsuit said:LOL, come on really!.:
There is a lot easier way of explaining the price action than all those number counts.
wavepicker said:Tell me more beachbum. I would love to know it. What do you use, lagging MA crossovers or bollingers???? They aint worth telling you jack, if you think they do, then you are deluding yourself.
EW aint perfect, it aint even hard, but it is one of the best keys to explaining market behaviour.
rwkni1 said:Zinc price moves up, ZFX moves up.
Zinc price moves down, ZFX moves down.
I reckon that's a pretty simple and accurate way of explaining the daily price movement.
wavepicker said:If only it were that easy!!!
What you are talking about is an effect. How do you know what zinc is gonna do from day to day or week to week??? Simple you don't! You need a mechanism to examine price pattern and motion in order to asses the probabilities of future movement. You don't need the EWP to do it, but you do need a method that will give you an edge.
Simply looking at what zinc price, oil price etc won't help you. What you have to realize is that the forces of the market internal, dynamic, and they feed upon themselves.
There are only 2 things necessary for you to decide:
1- which way the market is trending
2- knowing when the trend is at risk of ending
wavepicker said:Tell me more beachbum. I would love to know it. What do you use, lagging MA crossovers or bollingers???? They aint worth telling you jack, if you think they do, then you are deluding yourself.
EW aint perfect, it aint even hard, but it is one of the best keys to explaining market behaviour.
wavepicker said:Quite clearly described in EWP by Frost and Prechter, it's the early stages of a 3rd of wave unfolding or subdividing(nesting 1-2 subdivisions). Unfortunately, quite a few Radgephiles are not aware of it. It's the bread and butter of the EW technician.
rwkni1 said:Sorry, i was just being a smart ****. You're right, i don't know what zinc is gonna do day to day. But, i do think that no matter what the technical indicators say,the fundamentals will always over-ride. i.e. even if every technical indicator imagineable was pointing to a rise in share price tomorrow, if someone dumps 4,000t onto the LME tonight ZFX will go down.
Nick Radge said:What is that chart wavepicker?
With regard to ZFX, maybe you're right, and maybe I'll miss the next move, but for my money ZFX will have another leg lower first in quite a simple double zig zag off the highs. Emphasis on simple - which maybe I am. Then we move higher. If my analysis is incorrect, so what, an opportunity lost is all.
Sincerely,
Radgephile
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