LKO lakes blue energy nl

waxy crude, page-16

  1. 2,834 Posts.
    ian and yogi fussin and feudin and fightin (ok, th
    At the bottom is an old post from Yogi, who appears to have been plugging away at Carnarvon Petroleum for some years.

    Yes, the price of CVN has gone over 3 cents.

    Woo-hooo.

    Means one more fuill cent and we exceed their low of 08082002.

    And we can run a bit further, we might even be able to get back into the old 5.3 cent trading channel he identified.

    In short, if I can trust Yogi to be telling the truth thats he's held, he paid more than 3 cents for them, back in 2002.

    Or perhaps earlier.

    Some assets are worth owning. Whichian Buri isnt one of them Because You Cant Extract The Oil.

    If someone can make me an argument for how they can get it out, I'll listen.

    They've tried fraccing, and they've tried horizontal wells based on 3D.

    Back in the salad days of 2002-3, it looked like Whichian Buri was an oil field. In the cold hard light of 2004, Whichian Buri is an oil lease with wells in it.


    See, oil companies change over time, and the chart from 2002 may be based on some very different assumptions to todays (Stuart's chart from 2002-3 was different from their 2004 chart, because in 2002-3 they were not worried by issues of hedging strategies and pipeline capex).

    Finally, yes, you can make money trading dog stocks - especially if you can induce volatility in them, by bringing them to traders attention.

    But there are safer ways of making a living.

    OK, lets take my enthusiasm over Stuart, and assume you bought more at $1.25, during the Arwon-related enthusiasm ... it's currently drifting back to a buck.

    On the other hand, lets assume you got sucked into the enthusiasm for Lakes at 7 cents (see, we're on topic), then you are burning badly at four cents.

    This is because Stuart is a fundamentally good company that has enough money coming in each month to pay for exploration activity.

    Funadamentally bad companies - like Carnarvon and Lakes - dont. Every time they want to punch a hole in the ground, they need to issue shares.

    So speculate in fundamentally good companies - Hardman, Petsec, Stuart and Cooper are four names that come immediately to mind, and I have friends who like TAP, ROC and ARQ too.

    You sleep easier at night for a start.

    Ian Whitchurch

    (*) If you think you can make a living out of deep tight gas in Australia, which I dont.



    Subject simple astroanalysis for cvn ...
    Posted 15/12/02 00:28 - 126 reads
    Posted by Yogi-in-Oz
    Post #15 - start of thread - splitview

    Hi folks,

    To backup this analysis, the CVN chart has been posted
    at:

    http://www.incrediblecharts.com/forums/messages/8/20905.html

    As requested, here's a chart for CVN and
    it makes for some interesting analysis.

    Since the highs back in March 2000, CVN has
    been carving out a rounding bottom, though it
    has had its share of small rallies in that time.

    On 08082001 we saw CVN make a high at 8.9 cents.

    Subsequently, on the anniversary of that high,
    CVN made a low at 4 cents on 08082002, which
    also marked the lower edge of the current
    trading channel marked with a dotted green line.

    Since the low on 061202, CVN has been able to
    stay in a new trading channel that has an
    elevated momentum ... this channel is shown in
    dotted magenta lines.

    Both these channels are related, since they are
    both drawn using planetary harmonics.

    We can see the vertical blue lines that will be
    our time targets going forward ... these are
    also derived from planetary cycles.

    If CVN can break above 6.0 before xmas eve, then
    it has confirmed that the new momentum is in use.

    A run down and a test of 5.3 will confirm that
    the old trading channel is still intact.

    On the upside, we can expect some resistance at
    about:

    6.0 - 6.2 - 6.7 - 7.3 - 7.5 - 8 - 9.2 - 9.5

    Time targets, looking ahead:

    23122002 - 07012003 - 05022003 - 03032003

    Any drop through previous support at 5.3 cents
    may see some panic selling in CVN.

    Technically, both Williams %R and the momentum
    indicators have turned up, confirming the upward
    pressure on prices recently.

    Another test of recent lows would be nice to
    optimize an entry and this could happen, given
    the wide bid/offer spread we saw last week.

    Hope this helps some.

    have a great weekend all

    yogi
 
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