Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
While we are waiting for the Liberty clearance, I have been watching the candles.
I think we saw an inverted hammer yesterday which according to the textbook 'The Inverted Hammer candlestick formation occurs mainly at the bottom of downtrends and can act as a warning of a potential reversal upward. It is important to note that the Inverted pattern is a warning of potential price change, not a signal, in and of itself, to buy'
Of course it hasnt helped that VOD caused an internet outage for its international customers over the last 24 hours or so but assuming it is fixed now, we might see the SP recover lost ground next week.
This is just my amateur attempt to read the tea leaves, no advice intended, but any insights or other interpretations welcome?
GLA
I've always believed the inverted hammer pattern occurs at the bottom of a decent sized, downtrend. The last 4 days represent a very shallow downtrend, so I wouldn't rule it out, but it's in a weak position to be a true inverted hammer pattern. However Friday's close is not part of a pattern but a single Doji candlestick and that most defintely does signify indecision in the market with a possible change to the current trend. So..... maybe.
But with this couple of days shallow downtrend a case could be made that it still counts as all part of the up trend. Which wouldn't help the SP rise, in that case.
Whatever, I've been quitely impressed by the performance of the SP since XD day. It's only giving cause for concern in the past 3 or 4 days, so if it does rise it will be a positive sign that this XD period may not misbehave as the last XD period did by refusing to come out of the retrace after payment day.
Hi Velo, good thinking. I tried twice already to reply and got 2 error codes. This is a test post...
Yes, they're deliberately messing up this site IMO, to force users to go to the new beta version.
-----------------
Longish something for you -
Free - Candlestick Flash cards........
Anyway, been searching for something from years ago - and found it :)
(New I'd kept a PDF copy somewhere, thought it was on my old disposed computer).
Luckily there's enough trademarks on the saved PDF to re-look it up the site and post a link. And after all these years it's still up. I'm talking about this -
http://www.tradesmartu.com/external/files/Candlestick-Flash-Cards.pdf?inf_contact_key=bfe2e4c6b95e1142aa8573cbb41e302ec14798554ddf50c437bb9a31602fec46
(Google Tradesmart University+flashcards - if the link fails) One of gazillions of teaching sites on the internet for candlesticks. They all give so many free lessons and other freebies away, there's no need to buy anything.
It's about 36 or so flash cards, to aide fast recall of the most pertinent candlestick patterns and powerful single candlesticks. There are literally hundreds but these are the cream of the cream so to speak. Faster that way.
Now It's time for a bit of Blue Peter here's one I made earlier with card and sticky back paper LOL!
Print them off on scrap paper first to see you've matched up the correct answers on the back to the pictoral graphic candlesticks on the front. And if all works out okay print onto some decently thick card that your printer will accept (experiment) - I had some spare from Poundland. Mine survive years later and that little thick wodge of oblong cards is still on my desk in the corner. Sometimes I used to take them into work and test myself against them during quiet periods.
- A picture appears on one side asking "What's This? And on the other side is the answer, plus explanation. Really speeds up human memory access like greased lightening. Have a go :)
Best of you stick to your chosen path of reading, as different sites have slightly differing wording in explanation. For instance I posted that Friday's closing candlestick was a Doji and that signalled "indecision in the market" and indicated a trend change. On the flashcard it says:
" Shows complete balance among buyers and sellers and agreed upon price " It does mention a trend change as well but my reading/learning is imprinted with "indecision in the market as to whether to continue with the current trend" sounds a bit more purposeful to remember more easily than 'complete balance' both of which, are true.
Have fun!
Thank you Velo, very generous. I listened to the introductory lesson and printed out the flashcards.
I will challenge myself to add candlesticks to my daily/weekly review which always includes the 20 day moving average, Bollinger bands (+ adjustment to number of days and standard deviation), MACD, Momentum and Cutler relative strength index.
Many years ago I was able to download the daily prices from the internet for any period for free. Drop that data in a spreadsheet and run 'arima' modelling techniques. Once I felt comfortable with the trends and understood them, I discovered somebody was already doing it for me with the MACD, my favourite drop down measure available on most sites.
Re Fridays Doji, the flashcard indicates bullish @support but bearish @resistance. In my market screener chart it shows support at 123 and resistance 138...so we are like the grand old duke of York, neither half way up the hill or half way down and a lot of white space all around... LoL!
The telecoms sector was generally down on Friday. Maybe Broadcom played into that. Yet VODs financial performance is less dependent on physical network elements these days having made the commercial transition to a service model based on all you can eat data ie non partisan from a consumer perspective (re Huawei etc)plus IFRS regulating how handset revenues are recognised.
Perhaps Woodwards performance this week has reminded investors (Weekend FT) of 'the illusion of liquidity' in the funds industry. A retail investor caught up with Woodward might want to move to cash from Vodafone (4 days of red candles)...many retail investors doing this in the search for income and/or avoiding further capital losses across the market..
But why the indecisiveness?
VOD has addressed debt, rebased the div, underpinned a sustainable FCF (€5.4Bn per annum), continuing tender/ debt auctions this week to find the market price. Perhaps it’s the ‘looking for a new Chairman’. On Friday, VOD announced (RNS) the AGM chaired by the outgoing Chairman. With 5G in auctions complete, launch dates whilst waiting for the Liberty clearance, its all down to Trust in the management team. Maybe Friday was a light bulb moment with no net -ve or +ve but set in the longer term political relationship with Europe and a new Chairman?
Whoever he or she is, if like Jansen at BT they buy into the shares, we should see a lift in SP too.
We are now in an age of Dark pools and algorithmic trading, is there a place for charts in the modern trading world?
To use a couple of metaphors, if trading was hunting, chart indicators could be used to steer the herd and make a big kill. Another metaphor, would be to compare trading to a game of cards. First stack the deck, give a false tell and then fleece the patsy's, sorry I mean chartists. Some retail traders will make money and many wont and the only real way to make money, is to bet big. I don't see myself as a trader, I see myself as an investor who trades when my investment comes good, but i'm currently sitting on a paper loss and not for the first time.
I know that multiple companies have teams of people continually working on Algorithms and that doesn't include the countless mathematicians also individually working on trading algo's. I think the charting days are long gone, although i'm not sure about candlestick analysis, but again software could do a much better job, much faster.
I'm a cynic by nature, so interpret my ramblings as you like.
Fair point Fleccy.
There are some scholarly research articles (if only I could re-find them again) "proving" that both fundamentals and technicals both suffer the same errors in reliably forecasting the likely future performance of equities. I could barely comprehend the constructions they used as a lot of the scientific language used was beyond me. There was no alternative offered to those two methods so I was left none the wiser as to what was the best way forward for the typical average investor to employ.
'We are now in an age of Dark pools and algorithmic trading, is there a place for charts in the modern trading world? '
-------------------------------------------------------------------------------
I think there is. But I agree, big data, high frequency trading and the emergence of AI, quantum computing etc moving the market mechanisms, liquidity etc along faster. Some research suggests that overall, institutional investors pursue a broad range of trading styles that, to a large extent, offset each other. I certainly know of mathematicians in big institutions who start with a hypothesis, model it, conform to house rules etc and then don't look at the screen until it has run its course.... result is a profit or a loss! A retail trader is a cork on that ocean for sure.
I certainly see new patterns and get new understanding from my own research and data as well as reconfirm already known patterns. Disruptive events do happen eg Trumpean tweetenomics! Concentrating events do happen eg regulation etc. All these events can be identified in a chart across a range of prices both historically and projected. They can be triangulated with other data, other charts, news, candles, performance indicators etc and can improve our investment insight overall and may provide new signals to buy, sell or hold over the short or long term.
Like you, I am sitting on a paper loss with VOD (for all of the above) and VOD is a long term hold ….
"But I agree, big data, high frequency trading and the emergence of AI, quantum computing etc"
AI, HFT and algorithms, running on super computers, are all currently feasible, but i'm not so sure about Quantum computing. A theoretical Quantum computer, capable of dealing with the number of variables required, is a long way off. There's a possibility that Quantum Computers may not even be possible at a large scale. There's a lot of hype around Quantum computing and building computers with 100 Qubit capability, but we still appear to be a long way off. Quantum computing, theoretically allows all possibilities to be considered at the same time, with the most likely outcome being the answer. The technology relies on the superposition theory, where a quantum bit can be both zero and one at the same time and everything in between and by entangling multiple Qubits together forming a Quantum computer, an algorithm can be designed to get the desired result. The Quantum world is in a constant state of flux, with all states played out simultaneously and the result will be the most probable outcome, which is what shapes our macro world. Some scientists think that the Universe is one big Quantum computer, clocking at the speed of light and when you look at theories like the twin paradox, it doesn't seem so far fetched.
https://www.theverge.com/2019/1/8/18171732/ibm-quantum-computer-20-qubit-q-system-one-ces-2019
https://www.youtube.com/watch?v=PzL-oXxNGVM
https://www.youtube.com/watch?v=noaGNuQCW8A
Fleccy,
As soon as a quantum computer comes up for sale in John Lewis I will buy one and reverse my VOD buys...
https://www.independent.co.uk/life-style/gadgets-and-tech/news/time-reverse-quantum-computer-science-study-moscow-a8820516.html?amp
Hi Velo
'Candlestick Flash cards........'
Is that a spinning top today?
•Broad classi?cation of any smaller than average candle body
•Can be black or white
•May have upper, lower shadow, or no shadow
•Indicates a change in momentum
•Often the ?rst candle of a reversal
Japanese candlesticks set on dailies time frames are only valid by close of day, as they often change all meaning during the day. They're not really recommended for day trading but they are 'fractional' which means they can be used on any setting. And so if on say a five minute chart they often surprise me in their forecasting. I take it you're looking at today's chart set on daily prices? If so, you must wait until the day's trading is over for dailies.
PS. Can be black or white? ..... Personally, I colour my candles red and blue. Why? because like a dog and it's b'llocks, I can :)
Longish, just checked - and it's currently morphed into a long legged Doji with the catch-up trades now in. At least I think it's a bullish Long legged Doji.
But defo not forming a Spinning Top anymore.
Long legged Doji's are good for trend changes. This one's bulliush. The long wick below it shows the bears drove the price down alarmingly (126?) but the bulls chased them all the way back up by close. The body closed higher than it opened. All to the good. The bears lost today's battle.
Conclusion? Possibly a change to the wee downtrend back to a more ameanable outlook. But need more "confirmatory" signs to be absolutely sure IMO.
Longish - apologies!
Was busy elsewhere when I saw your post mentioning my name so felt obliged to respond. But in all that time had left another chart up on screen. Delete my previous post - it was for another share.
I can confirm, yes, VOD did go on to close as a full-on, in your face, bona fide Spinning Top.
Thank you Velo. I think we will see some recovery from here
Longish/Velo. Fascinated by your posts! I hav'nt got the faintest idea what you are going on about, but more fool me perhaps. Are you talking about fork handles, or 4 candles? Either way , you have lost me. Just hope all these candles will light up the vod sp.
Hi Dan,
' Just hope all these candles will light up the vod sp'
_____________________
Yes me too.
Fork handles, is trench humour from a 2 Ronnies sketch I am sure you remember ;-)
Velo kindly provided a simple guide to interpreting candles in a weekend post and I am following with interest.
Todays candle suggests a change in momentum and is often the first candle of a reversal. So it will be interesting to test/ monitor the SP over the next few days.
Come on you 4 candles, better than the 4 moaners?!
Longish - A 'pattern' close tonight. And it's a good one! I've checked and it's on your cards. - and it's bullish.
A two candle pattern, with a two word name.
Can you identify it?
I've already said it's bullish, so that's a starter - it's a Bullish "........" what?
Don't confuse it with the Bullish Harami, by making sure the colours are the right way round - and the sizes the right way round to match the card.
So that's a (bullish) Doji on Friday. (1)
Your bullish Spinning Top yesterday. (2)
Both confirmed by a plain bullish candle tonight. (3)
But tonight's close, on it's own, is just another bullish candlestick.
But look closely with the Spinning Top and today's large bullish candlestick and together bingo! - A pattern. (4)
That's a full confirmation!
What's the pattern called?
It's fair to say I won't be surprised to see Wed close with the second digit sporting a "3".
I'm open to offers on the third digit :)
And if not by Wed, then Thursday. Only thing is - how much strength in it - given this is still in XD period?
If anyone can beat Longish to the draw with the answer to the riddle, I'll get up from my computer and sing:
" I think I'm turning Japanese, I really think so " ( 'Japanese candlesticks' for the uninitiated :)
And accompany the song whilst doing R\verdance at the same time. Or maybe just the feet going, if I can't cordinate
Late night...
Bullish Engulfing
Come on guys - this is vodafone you are talking about - we all know it will be down again today probably lower than it was Monday
Come on guys - this is vodafone you are talking about - we all know it will be down again today probably lower than it was Monday
I think you must have had you charts upside down :)
Honestly Mikey, I just buy when it looks cheap...