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But that's exactly why chartists get a bad reputation. They're all over Telegram too. "Look at this share, it's primed to take off, my chart shows it!". Day later it's down 10% and that person is posting about a different stock. You're obviously not one of them but I treat all charts with suspicion these days. Apologises if my lemming jibe caused offence.
Tame, yeah, just felt it a bit of an unnecessary jibe seeing as there was a continuing thread on the subject going on alongside. But, I guess we can disagree on the subject and still remain civil. Haven't looked at twitter for a long time, but yes I've seem them before. They can even sound quite convincing. But seem to be just short term traders using charts to convince others for their own gain. Much like the posse of traders that turn up here on occasion with all the same old spiel and rhetoric. I'm not trying to convince anyone of anything. But will give my thoughts and reasoning on the subject, when asked.
So no worries, X, all good. :)
Scaffman, more like this.
https://www.youtube.com/watch?v=ZzAqMVlotvg
But no horse. :)
Different ways of charting I guess Si. Yours do tend to remain consistent. But that's not how I normally see charts. I follow the hashtag on Twitter and there are people who post charts and it's always a different line. MajesticTrader for example. And that's just one example, on just one share.
Who knew the word lemming (or lemmon) would be so divisive. 🙂 I thought it was quite tame compared to what normally happens on this board.
SiD was it like this🤔
https://www.youtube.com/watch?v=CARc1uUq1lA
Industrial espionage is a bit strong BT. You trying to get me in trouble. I was just walking along a public right of way minding my own... just happen to have a keen sense of perceptiveness for my surroundings that's all. ;)
Yes, there was something moored up at the Newquay yard. All painted up in the company colours. Could only see the cabin section as the quay wall blotted out the deck, sides, front door thingy. Drove around to the MOD's landing craft mooring site on the opposite side of the river to the yard. From there I could see the lowerable ramp door at the front. Will check the pic on the phone against the one on the scrutiny video but would imagine it is the Sampson. No other vessels were visable besides the the MOD's other landing craft that is still pulled up on the Patent Slipway. That is just behind a gate and only a few yards from the road. Big old things, up close. Had signs of work taking place, scaffold etc. but no peeps. Same for the Newquay yard with the gates all locked up, no security guard in the gate cabin. There was someone in the cabin of what may be the Samson, but other than that no signs of life around the main yard besides main gate security bods checking in a vehicle. Big drydock doors all shut up so nothing to see from the other side either. But over that side of the river there were four, obviously H&W employees, measuring and inspecting the pontoons where the MOD's landing craft moor up. Wasn't paying that much attention as I spotted a big old crab amongst the seaweed, which was obviously my main reason for being there, beachcombing. And not at all sculking about. :)
Btw, you don't happen to have any of the British Army camo face paint lying around? And would it work on my kayak? If I wanted to, maybe, you know, kind of go out for a paddle one evening, around dusk, bird watching.
Only joking. :)
The share price "was" at the skinny end at that point in time. We moved on. Got passed it. And peoples trading habits dictated in which direction it went next. The chart is just a representation of what happened. Obviously the timeline is pushing forward, growing day after day. The sp is rising and falling, dictated by peoples trading habits which in turn are affected by other factors that drive sentiment, news... tweets... expectations... the wider economy.... side of bed you got out of this morning...
This is the same chart I load up every day. https://invst.ly/14e-ku
The same chart I've posted here a few times. By period, it's normaly kept as a day chart. Although I can adjust that to a shorter period if I want to see what is happening in a shorter time frame. I may have used that a few times, just for more detail. What I can't do, is I can't go back and change what has happened. I can't move those peaks and troughs. And it's still the same line. It still has the same begining, that has not moved. All I can extened it forward to keep pace with the passage of time. It's still hitting those same high spots. Just that there are a few more of them over time that just so happen to be on the same line. It's like magic. :) Fwiw, I've temporarily put that little red triangle back in that was formed by that rising blue trend line from November 22. It was a weak trend, tbh, and consequently it was seen to fail. We moved on. The sp then took the direction it chose.
For now, the main upper trend line stays in place until such time that I feel it is no longer in play. To me, it still seems to be relevant. My chart, my rules. Time moves on, the sp moves up and down a bit more, news comes and goes, people buy in, sell out. It's just that some of us make descisions based on how they all interact. Simple as that.
Beautiful really. Hugs all round. ;)
So normally it’s the shorters and traders who get stick now it’s the chartists and TA guys 😜 when will people realise this is a share ‘chat board’ and everybody can comment? There’s more than one way to invest (not that you’d realise that in here); it gives variety and different perspectives
Si regarding the Atlantic Wolff, those that seem to understand registration etc seem to think it will struggle to make the 1st of May but hey not long to wait - enjoy being home and engaged happily in your industrial espionage! Any sign of Samson?
Just like religion really, either believe or don’t. In this instance it’s a no
Maybe I have just seen some bad chartists over time. It sometimes feels like every time I see a new chart the line starts from a different point or is at a different angle across the period in question depending on which peaks and dips they want to take into account at that moment in time. Like I have seen several charts over time where the share price is at the skinny end of a triangle (wedge to be technical) and then a couple of months later it's the same again with a new line.
Sorry, I don't want to stir the pot, but the lines aren't arbitrary and setting the stops is a bit of an art form in its way given its trying to identify what the crowd will do.
Anyway, there is a bit more to it than it might seem at first glance.
Chart people sell when the price falls a small amount don't they? They buy at X and then set a stop loss about half a penny below that on an arbitrary line they drew. I don't really care what they do, just giving my view on the afternoon selling.
Yeah? So the quip about "the lemmons wielding their charts" had nothing to do with TA at all.
Okay then, as you were. lol
Quite possibly Si. 🍋
Lemming is what I had in mind though.
I'm not sure what you're talking about though, I don't believe I have posted in the TA thread. Just giving my view on the selling towards the end of the day in the appropriate place. It looks like typical short/trader activity. Good luck to them I say, I'm happy holding for finance which must be due any day. Some will get caught out.
Is a lemmon a cross between a lemming and a lemon?
If people want to chat about TA and the like and you are not interested can't you just ignore them? Why do you always have to go and make it personal with the name calling? Especially as you don't beleive it makes a difference and is all bollux anyway. Just skip over it and let people do their own thing.
I kept an eye on IG app today and this afternoon around the time the 2x 100k sells came in shorts went from 17% to 18%. Additionally the app is showing 86% sells for today, 87% for the week and 71% for the month. The share price is doing the opposite. Starting to think people only use IG for shorting. The shorts will pull it down slightly and then the lemmons wielding their charts will sell thinking the share price is about to reverse. Now would be a great time for the finance news to drop.
Nobby , yes spoil it doesn’t it here’s to news shorters!!!!
It wouldn't be the same without those 50,000 sells coming in at the end of the day no would it?