permit to mine, page-63

Well constructed post mudguts.

Ive absorbed your thoughts. I should stop harping "El Capo said this" or "He said that".

I do not follow others blindly on forums. Burnt by that system a few years back when I first started.

I worked out what El Capo has said regarding PEN. It is my view we are not guaranteed that PEN will hit 1.7/1.8. If everyone places buys at 2 cents (as El Capo suggests), then 2.1 area will build, then 2.2...We may not get anywhere near the 1 cent area....

We both know T/A is based on history repeating. So I feel probabilities favour a run to the low.

I have been tempted to buy back at this level. Nothing wrong with 2.8 cents.
Last Sunday I did some analysis to see if PEN is basing due to lack of decent movement last few months. Googled my way looking for Basing formations then it evolved to chart patterns........Found a pattern that has been forming last 4 months viewing daily candlestick chart mudguts. Its called the "Downtrending Channel"....Not classed as a reversal pattern.....It is classed as a continuation pattern....Simply a pause in a current trend. We know PEN was downtrending beforehand so it is highly probable it will break to the downside on increased volume.

I picked up knowledge from Chalea on ASF. He/she talked how parabolic rises always return to the starting point. I decided to research Parabolic.....Seems you only get Parabolic Sar. Look at PEN previous 10 years mudguts....Plenty of parabolic rises.....Even take low in December last year at 2.5, have a look at its rise to 7.5....It gains momentum and starts ascending steeper. Looks very Parabolic to me....and here we are at 2.8 cents

Ive said this before ...Over the last 10 years...Almost every year you could buy once and sell once and at least double your money.

The reason El Capo leaves me in awe is the ability to pick highs and lows. This skill intrigues myself....I recall (I think it was) Pewal stating a while back that he brought $120 000 worth at about 3 cents and sold at 15 cents having $600 000. How talented is that? How did he know? PENs long term trendlines were already in place so this could be part of reason....Another is a Parabolic Rise.....Maybe watching currency exchange rates.....I recall at the time that only good news was in the media, nothing negative, I thought how unusual that seemed.
Even gauging internet forums...I recall everyone was estatic in early 2011....Now yesterday we have 2 individuals indicating some personal grief...Is this a good guide for general market sentiment approaching it worse?

I agree with you mudguts....The low is approaching....I feel one more cent should do it.....thou its not guaranteed.