the emperor has no clothes

The chartist in me has wanted to post this for a very long time but as I am also a moderator I have chosen to take a back seat..until now. But there are a lot of posters on this thread who need to get a grip on the reality of the situation with PEN. There has been way too much bullying on this thread by the true believers against anyone who dares to have a contrary opinion...so now the time has come to lay the cards on the table.

A little personal history : Twice in my life I have gotten onto "a sure thing" with 2 different stocks. Both times I got in early and rode the heights of euphoria and became a member of "The tribe" not at all unlike "the tribe" on the PEN thread...so I certainly understand that feeling and the belief that you are part of something really special.....but both times there came a point where the stock I worshipped started to slide. Both times I remained one of the "true believers" and chatted everyday on HC with like minded believers speaking of better days to come and pontificating endlessly about "fundamentals". Each time the share price rallied with a weak counter move we, the tribe, would do a war dance as we clung to the shreds of hope that the rally gave us.

Our Tribe, just like the PEN thread had all manner of authorities and gurus who would shout down any chartist or other savvy operator who would dare to talk down our beloved stock and we the yes men of the tribe stood behind them yelling "yeah, what he said".....

....and both times there came a day when the stock had fallen so low that even the most ridgy didge believer came to see that "the emperor wore no clothes". Squabbles broke out and posters who were previously seen as messiahs and gurus were turned on and crucified and accused of all manner of conspiracy and inappropriate behaviour.

For myself I never ever blamed anyone else but myself. I decided that the lessons I learnt were well worth the many tens of thousands of dollars that I lost and I decided this would never happen to me again.

It has been painful for me to watch it happening all over again on the PEN thread...it's like you guys stole our script...and, human nature being what it is, I guess that it will happen again and again in the future with a different stock and a different tribe and a different set of gurus....and all the time with a chart that looks pretty much the same as this one. The question is what can you learn from this experience to make you a better trader in the future.

I did this chart up and showed it to a mate earlier tonight and he in turn gave me this youtube clip :

http://www.youtube.com/watch?v=cDpPlrHgquM

Do yourself a favour and take the time to watch it. I could not believe it. It was like my subconscious had reached into the cosmos and pulled my chart straight out of this video...complete with smiley faces. I then busted out laughing because I recognized myself in 3 different roles as portrayed in this video. I had been the true believer, I had later learnt to be the savvy operator and more recently I have been the moderator rolling his eyes because he has seen it all before.

I know nothing about PEN's operations or its management or its underlying fundamentals so I cannot comment with any authority on them.....good or bad. I have no doubt that there will still be true believers who will want to shout fundamentals at me as they see them....but you may as well save your breath. I am not listening. This chart is not rocket science. It contains a simple hard truth. There is one truth that I have learnt on this journey and that is The Chart Never Lies