CDX (ASX) TA Charting Thread

Originally posted by scooter83: ↑

G'Day @rick64,
I'm still around.. had a bit of a hectic week. Still waking at 1am to trade during the mornings before work (that will change to 2am next week which is awesome) but interrupts this week with my son getting sick followed by me getting whatever he had along with just having long days and heading back to bed after the hour of power.

I just opened the chart for a quick look. To me the volume has dropped off alot as the SP retracted but around the 0.038 level volume is almost at a standstill indicating that sellers have exhausted themselves.. perhaps still a bit of movement but this could be from some people buying in and dumping their T2 trades also.. we will never really know. IMO the SP is stabilising while some are getting anxious but as soon as the GEMDC news is released and pathways with that GEMDC are outlined.. down rampers may quickly become up rampers.

All the same though, I initially bought this stock around the 0.03 mark and got 100,000 of them.. held that and did some trading along the way as well as adding some to my long term holding as we have seen the decline from 0.069. It is true there has been a decline and I've seen a lot of chatter about it here on HC, I tend to ignore any senseless chatter and like to make up my own mind; using HC just as a source of news alert and appreciate when a poster can provide a link to any claimed news (it is amazing how so many traders need to be the one who is correct in their predictions, there is a short term trading competition thread, maybe they need to venture over there). In regards to the time spent diving with Hammerheads, I'm just jealous of coops of being close enough to the ocean to enjoy the sport more than me at the moment, also downloaded that Relive app I saw on his twitter page.. nice concept. He is no doubt doing his job and earns his rest and relaxation. Everyone knows the news of the GEMDC will be big, everyone was happy to agree to that as the SP climbed so that news will remain just as big.. and it's only the beginning to CDX's future. I've got a good amount tucked away with CDX and happy to hold for the longer term as I do see the SP moving upward again in the future. It is a bit like CVN.. so many people ask why I would not sell my holdings with them as I've done quite well... my only reply to them is CVN still has more in it and as much as others say they will buy in once they show they are back on the increase, they generally miss out.

So for me.. back to my corner understanding the potential standing here with CDX and just waiting for the contracts to be completed so that the news can be released. I have the next 2 weeks off so you should see me back on the DT thread if I've got much to contribute... who knows.. might even be back here discussing the news

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Originally posted by valvesound: ↑

You are right, i like the stock, it has plenty of potential to disrupt the market, and i can see plenty of upside in the future. As trader yes absolutely that is rule number one, and i really shouldnt respond to contrarian posts like yours because im always going to come off second best.

I dont agree with your comment regarding calling the bottom, but i have been looking for potential support bounce areas based off the chart, obviously the stock has been worked over pretty hard and these areas have just not held, too many bigger players have used the fear which has been circulated about this stock and the CEO to there advantage to get the price lower.

My mention of 100 percent from lows is certainly not to brag, im pretty humble with my trading and do like to see both sides of the coin, no one likes to see others loose money, but as a stock goes up you really do need to weigh up the risk vs reward and decide if you are REALLY long, or just like for trade.

Lets just look forward to news from here, we are back to where we started from the original move in January, so it would be fair to say there is more upside from here that down side unless of course there is just something fundamentally wrong with the company.

Cheers

V

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Hi guys, I am afraid I have become emotionally involved with CDX. So be it. I am in way over my head, having initially purchased at .049, and adding at .06, 061, .049, and .041. My current average is 5.1, so am 30% down at current price. I believed all the hype, and kept buying, while at the same time trying to study technical analysis hard. And yes I could have sold in the high 6's, but I got greedy again. Now I am holding on for dear life, and praying that it does not go the way of HDY, in which I also have many thousands of dollars tied up.
My mistake has been trying to multi-task. I have to work in my trade to be able to live, so I cannot be at the trading desk all day every day.
I enjoy the debate that goes on here, but I fear I am looking through those rose coloured glasses as I have a large part of my assets tied up here.
Looking at the chart, hindsight is a wonderful thing. If I had traded where my B and S are noted on the chart, I could have made many thousand of dollars, but I did not.
BTW, signed up for Commsec Viewpoint yesterday and lo and behold, today cannot log in.

Have worked it out that I spend $200 a month now to have internet access, viewpoint, and Incredible Charts, so that is what I need to make from trading to break even.
I do not have NBN, just mobile broadband. I have also had to set up 3 24" screens so that I can see everything.