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Post by jack on Apr 10, 2012 16:29:38 GMT -5
Somebody PLEASE tell me if this can be characterized as a falling wedgie?
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Post by dino on Apr 10, 2012 16:38:31 GMT -5
that pic looks more like a symmetrical triangle to me jack. can you stretch the top trend line to the top of the december highs? chopping off some tails is ok. looks like the bottom trend could maybe be moved up a little as well (the apex end of the trend only) to get more touches.
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Post by novice08 on Apr 10, 2012 16:52:47 GMT -5
Back it up to last July and see what ya get...should be more definitve.
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Post by tendermyshares on Apr 10, 2012 17:10:40 GMT -5
If you start the bottom line a little bit later, after the uptrend is finished and the downtrend starts, I thought you might get a wedge there, but after looking a bit more it may just be a parallel channel. Either way it can potentially break out above the top line, so I don't think it really has to be a wedge.
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Post by jack on Apr 10, 2012 18:03:19 GMT -5
that pic looks more like a symmetrical triangle to me jack. can you stretch the top trend line to the top of the december highs? chopping off some tails is ok. looks like the bottom trend could maybe be moved up a little as well (the apex end of the trend only) to get more touches. Had to take out more than just tails in order to do that Dino:
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Post by jack on Apr 10, 2012 18:14:23 GMT -5
Back it up to last July and see what ya get...should be more definitve. There ya go Novi! Looks more like a symmetrical triangle as Dino said...which implies indecision. This makes some sense considering the fact that the Resource Report is only due out in late summer /early fall...
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Post by tendermyshares on Apr 10, 2012 18:43:45 GMT -5
It also makes sense considering that we are undecided about what it is.
Hey I just noticed that stuff went up more than freaking Alcoa today. lol
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Post by theMIST on Apr 10, 2012 18:44:33 GMT -5
Looks like Continental gold has been range bound between 10.55ish and 5.73 for quite some time. If trading aggressively, use the support and resistance of triangles to buy/sell. Indicators (MACD, MACD Hist, DIs) just turned bullish and price action now back above 200dsma and has to hold. Short term target is upper tan line of triangle which would be sell opp. If break above, buy back in and ride the breakout OR you can buy the backtest. CNL.TO Daily
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Post by jack on Apr 10, 2012 19:21:28 GMT -5
Exalt to Rob for that analysis!!! Thanks!
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Post by theMIST on Apr 10, 2012 19:37:05 GMT -5
Jack,
I don't know anything about Continental Gold's fundamentals. What happened back in June '10 thru August '10?
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Post by maxi on Apr 10, 2012 19:43:37 GMT -5
Jack, I don't know anything about Continental Gold's fundamentals. What happened back in June '10 thru August '10? The stock wasn't public then. it is a very new issue..... ( comparatively speaking)
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Post by jack on Apr 10, 2012 19:51:25 GMT -5
Jack, I don't know anything about Continental Gold's fundamentals. What happened back in June '10 thru August '10? Rob, The answer is nuthin'!!! My Colombian goldmining venture which I've held for 15yrs performed a reverse merger with the previous company and only IPO'ed in Aug 2010 THAT's when it went public. The past 1-2yrs have been spent w/ the drilling program on the Burritica mine characterizing the "bonanza-class" gold reserve found there. The finalized "Resource Report" is due to come out this late summer/early fall. I've seen estimates by some which suggest that the pps will surge to +20 when the report's results are verified and validated. And there is also speculation that one of the major miners will buy the Burritica mine itself. That would provide CNL shareholders a nice fat divvey and still leave them with 5 other Colombian properties ("Berlin" mine is the next targetted one) with Excellent gold reserve potential. I still maintain that from the current pps it has a 2-3X upside target in the next 6-9mos.
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Post by theMIST on Apr 10, 2012 19:55:41 GMT -5
Keep an eye on those triangles (tan, green) for support/resistance. If you get a breakout above the tan and then the green, then look for top of range (10.55ish). Whenever a stock is range bound for so long, a breakout in either direction will usually yield a big move.
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rebel
Broker/Dealer
Tried & True
Posts: 434
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Post by rebel on Apr 10, 2012 20:03:46 GMT -5
MR J, i see a bull & bear flag if the bear breaks SELL the gap will fill chart.ly/aj7ef7qGL
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Post by jack on Apr 10, 2012 20:11:07 GMT -5
MR J, i see a bull & bear flag if the bear breaks SELL the gap will fill chart.ly/aj7ef7qGL What gap "Rebel-with-a-Just-Cause" The 9/11/11 $6.74 gap??? man THAT would be beautiful!!!!Thx ...and Exalt! for the input!!!
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Post by theMIST on Apr 10, 2012 20:39:05 GMT -5
I believe Rebel is talking about the gap that I questioned (6/10-8/10) which is actually not a gap from what you said
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Post by jack on Apr 10, 2012 20:41:28 GMT -5
I believe Rebel is talking about the gap that I questioned (6/10-8/10) which is actually not a gap from what you said Right - THAT's not a gap I'll keep telling myself that! LOL!!!!
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Post by dino on Apr 10, 2012 21:34:55 GMT -5
Also... Symmetrical's usually break in the direction of the previous trend so in this case there's a better chance of a break to the upside than downside.
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Post by jack on Apr 10, 2012 22:06:01 GMT -5
Also... Symmetrical's usually break in the direction of the previous trend so in this case there's a better chance of a break to the upside than downside. I love you man!!!Exalt!!!!
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Post by novice08 on Apr 10, 2012 22:22:40 GMT -5
Great thread, but why are your charts removed?
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Post by jack on Apr 10, 2012 22:26:30 GMT -5
Great thread, but why are your charts removed? That is weird - both theMist's & Rebel's are gone(?) and without an edit change note made???
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rebel
Broker/Dealer
Tried & True
Posts: 434
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Post by rebel on Apr 11, 2012 4:20:22 GMT -5
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Post by cosmic on Apr 11, 2012 8:33:54 GMT -5
I think there are going to be a number of "tricks" pulled with the stock. Typically we may see a plunge through a support just to shake longs, only to have it reverse rather quickly. This is generally a thinly traded issue, and small buys and sells affect it's range dramatically. This is a dream for the Market Makers. It's a roller coaster hold.
Consider that the stock is routinely trading a 30+% channel.
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Post by jack on Apr 11, 2012 8:38:11 GMT -5
I think there are going to be a number of "tricks" pulled with the stock. Typically we may see a plunge through a support just to shake longs, only to have it reverse rather quickly. This is generally a thinly traded issue, and small buys and sells affect it's range dramatically. This is a dream for the Market Makers. It's a roller coaster hold. Consider that the stock is routinely trading a 30+% channel. Agree....but my guess is that when the Resource Report comes out it will no longer be so thinly traded.
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Post by dino on Apr 11, 2012 10:26:04 GMT -5
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Post by cosmic on Apr 11, 2012 10:40:47 GMT -5
True Jack but the market trades on Speculation... so I'd imagine that some portion of the current value is a speculation on that future resource report. How much, we can't really know, and whether the stock will value according to the resource report: we don't know that either but speculate it will.
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Post by jack on Apr 11, 2012 10:45:33 GMT -5
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Post by natsalilfly on Apr 11, 2012 10:50:56 GMT -5
I was wondering the same thing!
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Post by cosmic on Apr 11, 2012 10:52:19 GMT -5
Well it says TOS violation with ImageShack or user request. If you didn't request it, not sure why ImageShack would have decided to take it down.
Send me the graphic to the fastopia hotmail account and i'll repost it
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Post by jack on Apr 11, 2012 10:52:50 GMT -5
True Jack but the market trades on Speculation... so I'd imagine that some portion of the current value is a speculation on that future resource report. How much, we can't really know, and whether the stock will value according to the resource report: we don't know that either but speculate it will. So true about speculation, but I'll bet you dollars to donuts that the stock price will be fairly priced as a function of the millions ounces of gold verified and validated in the report as well as the then current price of gold. Then throw in the possible prospect of one or two major miners bidding to either buy out the company outright or just Burritica which is a major bonanza class deposit (of which there are only a handful on each continent) and you are looking (or at least I am) of at least $20-30/share.
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