Chart, page-16163

Spoken again like a true trader & one who knows how to focus on the most important insight
charting analysis can give you - an assessment of risk. I hope you get your entry...
I'm not a small time frame type of guy, but since you mentioned some Classical Charting patterns
I will point out that today has completed a little-known and rare Island Reversal pattern.


For those who are not familiar, here is R.W Shabacker's definition:

This is a pattern I would absolutely not long into, on a technical basis. However, as is true
with all technical forecasting, they can be wrong often enough & my intention is not to predict
doom, but to encourage inexperienced traders to caution. Usually, I would exit a long position
on such a signal but I will not be selling any time soon because this is no longer a trade for me
(hence my sentiment). It has become an investment and I believe it may be one of the best
opportunities I will see in my lifetime. Another 50% drop in price would not change my opinion
on that. I do not believe it gets that ugly and the overall trend is still very much in-tact even from
a technical point of view, but as Buffet said:
"You shouldn't own common stocks if a 50% decrease in their value in a short period of time
would cause you acute distress."
I am quite confident that BRN will continue to see volatility in both directions. It is very difficult
to put a valuation on this company and I believe that will be reflected in the way it trades.
It boggles my mind that people seem to be slapping on "trades" with the attitude that further
downside is only remotely possible. A fundamental investor knows that in the short term, that
is very possible but does not care. A trader manages his risk with stop losses, sensible entries
& lack of excitement. Someone in the middle finds some way to balance the two and almost
everyone else gets burned or takes the emotional rollercoaster...
GTLA