Pretty much BS. I am primarily an intraday trader (except for 4DS & CSL & bl**dy NMT ) - hence the 1 minute charts. I almost never forecast more than hours to days ahead except very occasionally as part of an ongoing discussion with other chartists, or when we are trying to work out a retrace target, If you know me from other stocks - then you will know my up-swing charts are usually right, intraday ones almost always right, the downswing ones (after W5) less so until recently. But when the price hits the upswing target I am out, because the price ALWAYS crashes at some point. It's not "heading for the hills", its a trading cycle completed. Because I work in minutes I can only track about 4 to 5 companies at once and simply can't chart the ones I aren't trading, although I have in the past occasionally done a projection when requested on individual companies.
If you stay in a stock forever you will get done eventually. When I come back to a stock after a long absence it is usually a sign that the stock will rise (or at least that I expect it to rise - eg. both WBT and 4DS over recent months), but I virtually never post a chart without the retrace marked. So if I am gone from the stock during the upswing then it is kind of obvious why. I also always post the charts and targets before I trade them - usually hours ahead - in fact as I work them out. No doubt, if you go back enough years you will find stocks where I have got the targets wrong and was much more naïve in my charting, and like lots of other people traded like I thought a stock could just rise forever, but not for many years now. I will admit, ATM 4DS (which is where I think I recognise your alias from) is causing me some forecasting frustration - so I am not getting that one right ATM ... yet, although the previous round of announcements while it was active I was getting right (but so was everyone else), but I haven't "headed for the hills", there just isn't any point in posting charts non-stop while we wait for the IMEC announcement. Timing is unpredictable on that, and WBT will spin into a similar problem if it decides to take months before the next signing announcement.
I don't really like forecasting doom and gloom, and as I don't short, the trades I do on a falling stock are really high risk, certainly don't think I should post charts that encourage others to take such high risk trades, so If I can't see a turn up happening I am much less likely to be posting - hence I am not currently posting on the Li stocks until the Li price starts recovering.
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Last
$2.61 |
Change
-0.250(8.74%) |
Mkt cap ! $492.2M |
Open | High | Low | Value | Volume |
$2.77 | $2.78 | $2.61 | $3.671M | 1.374M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 11892 | $2.61 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.65 | 14132 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 11892 | 2.610 |
9 | 19187 | 2.600 |
5 | 13168 | 2.590 |
2 | 3624 | 2.580 |
1 | 3424 | 2.570 |
Price($) | Vol. | No. |
---|---|---|
2.650 | 14132 | 3 |
2.680 | 7000 | 1 |
2.690 | 20000 | 2 |
2.710 | 1879 | 1 |
2.730 | 8500 | 1 |
Last trade - 16.10pm 13/05/2024 (20 minute delay) ? |
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Last
$2.61 |
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Change
-0.250 ( 5.90 %) |
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Open | High | Low | Volume | ||
$2.76 | $2.78 | $2.61 | 256347 | ||
Last updated 15.59pm 13/05/2024 ? |
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MAGNUM MINING AND EXPLORATION LIMITED
Neil Goodman, MD
Neil Goodman
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