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I know it got a good write up in the IC last week - labelled as a buy. They mentioned the same thing I said in my last post - that the BP spill was a short term headache for CHU and that reality is it would ignite a hardening of re insurance rates - which long term would be more profitable for CHU. I've been following this one for a few weeks due to the emergence of a cup and handle technical pattern, and I wanted to see if it would break out. Obviously it didn't so I didn't get in. But fundamentally I think there is a case for keeping this one on my radar for now. Good luck
Thanks mate - much appreciated. Yes, didn't bank on that piece of news coming out! LOL Not to worry, I suppose there are positives that come from it in terms of the hardening re insurance rates, which will undoubtedley help to recover the loss, and will probably provide a platform for them to continue selling the higher margin policies within the energy division, even after that loss has been mitigated. So what starts initially as a major problem to Chaucer, could turn into an opportunity to push an 'easier sell' for more expensive policies. Will have to wait and see. Will be watching from a distance anyway, no money tied up in pretty much anything at this present moment, except Rockhopper. Good Luck Mate - 1WJM
Firm support found @ 46p (bottom of the cup formation). Does this spell the failure of this continuation pattern?? Who knows! One things for sure the whole markets are getting rocked at the moment, so we will have to wat and see. I'm not exposed anyhow - alarm been set @ 53p. Will wait to see if its confirmed and run with it. If it don't happen....hey ho! Plenty more fish in the sea!
Forum Energy just broke out of its decending wedge formation. Very very similar set up to HCL at the moment (although HCL is yet to breakout). Watch FEP to get a clue as to what HCL could do. (COULD being the operative word here!) Decending Wedge usually resolves itself 90% of the time to the upside (statistically - not just my interpretation). FEP recently got tipped in RHPS - that provided the impetus for the breakout. What will provide the impetus for HCL?? Interesting posts from Cielo regarding the Panamax shipping rates. Maybe a positive RNS will see things move in the right direction. 1WJM
Everything seems to be moving in the wrong direction! A sea of red. Got my eye on a couple of potentials for when things settle. CHU is hanging in there though (for now!) Good luck mate
CT7 got banned after getting into an argument with Chiffa. He got a bit lairy one night after booze, and went a bit over the top TBH. So now he comes on under different tags to take the odd swipe at Chiffa, and usually gets banned within a few posts. He called the Lloyds breakout and profit target down to tee. Very skillful chap - but strikes me as a "Good WIll Hunting" - gets himself into trouble! I've put some links up on that pattern on the CHU board. You will find that NGL, and BAY are both forming similar patterns ATM. From what I've read, they can be quite powerful platforms for a breakout rally. Not traded this pattern yet myself, but keeping an eye for opportunities, and will have a stab at it soon as I get a satisfactory breakout out situation on one of them. Speak Soon mate - 1WJM
Left a bit of mail for you on HCL board mate. Hoping I could get your valued opinion on CHU. Hope your keeping well, and good luck as always. Kind Regards 1WJM
Couple of similar set ups with the falling wedge occurring on a few other stocks - AV. and GKP. are on my radar for that pattern. Pointing this out not to ramp these shares at all, but purely for people to compare and contrast the patterns developing in HCL. It may or may not help you - you be the judge. Lloyds was a good example of one that worked out nicely and to the text book. Double bottom, and inverted head and shoulders further signified the imminent break of the upper channel line. This was all pointed out to me by a very experienced chartist (formerly known as CT7) - so credit must go to him for that and TIE. Worth doing a bit of homework on this historical case - HCL may show similar indications (wider market conditions awilling!) 1WJM
Nice basing formation - 'cup and handle' (Made famous by William J O' Neil - in the best seller How to Trade Stocks). Can be seen quite clearly if you look at a 1 year chart. These patterns can provide platforms for powerful rallies, obviously given satisfactory wider market conditions also. Check these links out and decide for yourselves! http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:cup_with_handle_cont http://www.investopedia.com/terms/c/cupandhandle.asp I'm keeping a close eye on this one. I think a confirmed break out above 53p would give a decent probability of a successful trade. A more aggressive trader may even consider picking up his / her first tranche of stock at the lower end of the current range within the 'handle' i.e. 49 - 50p Nothings guaranteed (as we all know with stocks!) - but well worth having on the radar for a possible quick 20 - 30% should a break above this basing pattern occur. Good Luck fellow speculators! 1WJM
Thanks mate - I have been getting into this technical malarkey since we first met on PRL (or should I say POL now!) board. Find it very interesting stuff. Good to see you about - and I hope your doing well! I know your doing ok on NYO - I glance in every so often on that board. Riddler - do you know much about cup with handle basig patterns (William J ONeill Style) ? Do us a favour mate and take a little look at CHU, and tell me if you see what I think I can see. I'm waiting on a confirmed break above 53p. I think it might be nice if it happens. We'll have to see. Let me know what you think. Decent fundamentals there too. Kind Regards - 1WJM
Looks like it could be in a falling wedge formation. For all intents and purposes, and as unlikely as this may seem to anyone who has not studied technical trading, this can be a bullish set up. Watch for a break out above the upper channel line and expect a decent rally if it does. Obviously this will also be dependant on wider market factors also. But take a look at these links, and decide for yourselves whether the chart for HCL looks remotely like such a set up. GL guys. http://chart-patterns.netfirms.com/fallingwedge.htm http://www.trending123.com/patterns/falling_wedge.html P.s The best way to trade such a pattern - if your not already holding HCL and looking to buy in - is to WAIT until the upper channel line is broken on a break out. Good charting software can be found on Pro Realtime.com for free to help.
Don't know which boards your frequenting lately - noticed your not posting much on the Lloy board. An old friend was back in town the other day under a different tag. He mentioned a share which I took the liberty of looking into - CHU. Your good on the old patterns - so when I spotted what I thought was a nice basing formation - cup and handle (William j O'Neill style) - I thought I'd cross reference this with you. Looking to buy on a confirmed break above 53. What's your thoughts mate? N.B - Sorry for off topic post to all on this board who may not be interested in discussing other shares here. This will be the first and last - i dont normally make a habit of it! Onto BG. - looks like your target of 1060 might be spot on mate for tomorrow on a nice LLO. Divergence forming on the force index - so this could indicate the bearish sentiment petering out. Lets hope results don't reignite their appetites. 1WJM
Yeah - I must admit I got out a bit too soon myself @ 67p. I've been a stoic holder of Lloyds for a long time - totally unflappable. But something last week told me to jump ship - and i listened to that inner voice (to my obvious detriment given the current SP!) I do however retain lofty longer term ambitions for Lloyds - and will be back in there as soon as that inner voice tells me its time to do so! In the meantime I've just stuck the mother load into BG, and put a decent proportion of my speculative pot into MIN (minoan) - which I believe could easily be one of 2010's most exciting little multi baggers! Itsa gamble though! 1WJM
Nice to see some familiar and respected posters over here! This one popped up on the old radar recently. Oversold on the stochs, and a divergence on the MACD histogram - with the price hitting new lows and histogram actually on par if not fractionally better off than recent lows @ 30th March. Looks slightly overdone. I'm looking for 10% out of this one from these levels, as a prudent short term target - possibly a month / 6 weeks. Got out of Lloyds to have a stab at this on a very temporary basis - think risk / reward on Lloyds compared to this ATM puts BG in the driving seat for me. Will be looking to get back on board Lloyds if a retrace provides a suitable re entry - or unless resistance is broken. Lib Dems put a spanner in my longer term plan - I never counted on Vincey boy getting a look in! But me thinks that should definatley be factored into the equation now on a coalition basis. He could be a bit of a menace to the ol' banks! 1WJM
Seems like a pretty safe place to be today! What with all the hot potatoes getting passed round in the markets.
Sorry mate - I read it wrong! I know the feeling - been there plenty of times. Hope you do well over at VOG. Critical stage for ROK now - either there is a fishing expedition going on, or this ones heading south. Like I said before - if it decides to violate the reversal pattern - its time to bail....fast. Will give it a bit more room to breathe first though.....but not much the way its going! LOL Good luck Osscuss
You might be right. I'm not worried though - I got a stop loss at breakeven - so won't even lose the spread. Its a free trade my friend. And yes - the markets are definately affecting it. If they were flying up - this would be going up with the tide as well. We'll have to wait and see - good luck with VOG. P.s. "Watch it fly to 50p now...." - is that a hint of sarcasm or something? Don't know If i read it right.
I'm keeping my eye on NGL now myself. I missed out on the big gains of 2009 - but i think this reversal may get overcooked as well - possibly offering a nice profit opportunity. I think there is indecision under the surface over the q1 production targets - and indecision and uncertainty is like a disease. However, from a technical perspective - although i'm not looking at bollinger bands - I have been using the MACD and stochastics - which on the MACD histogram it can clearly be seen that the stock is hitting new lows, whilst the histogram is not hitting new lows - which would indicate a bullish divergence forming. Stochs are deep in oversold territory - but no indication yet of a turnaround. So I think a trailing buy order 1 tick above previous days candle - should shadow this one one down to the bottom, and catch any reversal bounce - if indeed the stock decides to act that way. If I do get bought in on a bounce - a reasonably tight stop should ensure that if it continues to drop then I'm protected - and just have to fish for a new re-entry. I still think gold - as a theme - has not run its course yet. Good Luck mate - 1WJM
.....are a funny bunch! Left it till the last 15 minutes of the day before letting it go! I wonder what's in store for tomorrow now. ShaunC - 53p obviously held up quite well - but still be on your guard, 'fishing expeditions' to catch people out can work in both ways - so that sharp spike up this afternoon doesn't mean we are out of the woods yet! Still waiting for the touch paper to be lit and a decent move to be made.
He's never too far out! I've been following Riddlers posts on a couple of boards for a long time. Take heed - he knows what he is talking about.