Good morning everyone.
NVO Firstly i would like to clear a few things up
1. Spec land is full of pump's and dumps and we all get caught on the wrong side of them now and again, im sure most of you all out there have plenty of dog stocks sitting in your portfolio that you may have not done enough research on or didnt sell because you didnt quite read the action properly. sheet happens. I have plenty.
2. If anyone thinks i am to blame for the volume and pump, sorry but you just have no idea. The data will tell the story next week.
3. If you got trapped, you need to read the chart better, i don't think i could have broken down this chart and trade anymore easier for everyone to get in early before essentially what was a day of distribution. All stocks eventually have this day. Yesterday was it. This is the day to sell. But at the same time this is usually the day that offers a decent spread to be able to scalp a trade out of the action.
4. If you had of followed my chart from last Wednesday, done a bit of research on all possible ways the trade could turn out you should have come out with a profit. A good profit at that. Its that simple.
5. From day 1 i offered 2 price targets 1.4 and and 1.9. If you had of bought into this trade between 0.008 ( the lower resistance level ) and 1.2 you should have considered that if the price target is 1.4. Then you sell @ 1.3. If you bought into major break out @ 1.4 the sell was probably around the 1.6 area. I always stated that once 1.4 broke it would pop to 1.9 very fast as there was no supply between these 2 areas. It was lightening quick. You yourself need to be lightening quick if you are going to take this high risk entry.
6. If you thought this stock wasnt going to get a speeding ticket, then you have rocks in your head, unfortunately management were unable to put together a better response, which killed the share price. People had not done there own home work and research and then just started to bail causing a domino effect. Once the pro's see this action, they will cap it and push it down and make you sell. They love trapping retail traders in stocks. Its how they make there money.
While i was suspended i had numerous calls for example
DSE 3.8 to 16 cents. This involved alot of research and joining the dots.
BID 5.1 to 16 cents. Again this involved alot of research but all the ingredients were there.
AVL 4.3 reached 7 cents recently.
These are just a few examples of stocks that didnt get dumped. For every stock there is a different story and a different way to read the chart and action.
Now with that aside
I will post a couple of charts
AVL Still like this stock for a trade, offers good liquidity and spread, looks to have found some new support around that 5.9 area. However i dont really like the choppiness of the action up around here, i think it really just needs to settle now in the low 6s and have a few low volume days to confirm this is the new support area.
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MEI Currently drilling, and had some monster buying action @ 3.4 20 minutes before the market closed which i thought was rather interesting. Get the feeling we may see some results very soon. This is also a very nice chart. Break out = 3.8 with a target of 4.9 ST
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EM1 Low in here, rejecting 1.2 a couple of times now. Im in for a punt at these levels
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ESH Mentioned yesterday the key was to break above 2.7 on some volume, which we got yesterday, think that gap should come into play if not today, maybe next week
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CCZ Nice chart, looks to have consolidated its break out above 3 cents, hate gaps below, but if you know the stock and who runs the show, you will probably know they wont care to much for it.
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Lastly it would be good to see some of the old traders come back to hot copper. I think collectively there is so much more to gain when there is more information provided on a daily basis. One of the main reasons i wanted to come back was because this is where i learnt my craft and essentially my new career so im trying to give back what i can. My charts are usually half / half being that i own or do not own. If anyone thinks i just post my own charts for my on stocks that i hold you are very mistaken, but of course im going to post charts for stocks i hold, its why i bought into them in the first place and believe they have potential for the upside.
Cheers all hope everyone has a good Friday.
