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JTB & Leathal, I will do a bit of research on the w/e as I said and give you my take on it in more detail. Rather than using this board you may both want to email me on Sunday as I should have an idea by then. I wouldn't jump on it just yet, Leathal, even if this is a goer it's not quite at that point in it's cycle where you would want to buy in. No point in buying at 15 for example if the RSI & MACD are still pointing downwards as you may get it next week for 13! I'll talk in more detail on Sunday.
JTB,thanks for the info I'll do a bit of research myself over the w/e on this. I have only one company in my high risk section now utilising about 25% of the cash set aside for investment so I could quite easily get into this if it checks out at the next point in it's cycle.
Hi Leathal, my email address is:- dogstarcaptain@outlook.com you are welcome to drop me a line,m8.
regards, DST
Re: Technical Analysis
I was told a long time ago that learning to read charts is very important as the top traders and the others that move the market base the decisions on what the charts are telling them so naturally if YOU can read them too it takes away some of their edge and arms you good decisions at the same time (peering over the shoulders of the professionals if you will). There are times when TA really warns you off a stock and saves your a$$ from making REALLY bad & costly errors. I can see why some people are wary but I have always believed it better to have too much knowledge than not enough - I would,therefore, always advocate for traders/investors to learn most valuable of skills!
JTB & Leathal,I don't know this company but on first glance it seems like a proposition. It is trending upwards on both the weekly & daily charts which is ALWAYS a good thing! The daily MACD & RSI are not in a position atm that I would say "buy now" but would rather wait until either the RSI has sunk below and then broken up thru the 30 (it's well above that at the moment) ditto with the daily MACD (that isn't exactly where I really start getting interested in placing a buy order either). It has moved progressively higher since August of last year (JTB you may wish to enlighten us why?). If I were to look for an opening I would be looking to get in at around 15 in the nest few weeks with a view to selling at 20 a few weeks after that and then repeating the process. I haven't looked at the daily volume but it looks on first insp. like a nice little company. Much of what it does seems to be centred in Australia so geo-politically stable (no revolutions on the horizon with the neo-fascista taking over goldmines!!!). The great thing about stable little companies like this that are trending upwards is that it really doesn't matter if you buy in at the wrong time as the SP will eventually head up to your selling price anyway - SAFER! You will need to give us a bit to go on JTB - what do you see as it's outlook?
Hi Leathal, Sorry to hear that you are down but remember that in actual fact you have only lost about £200 from the partial sell, your other losses are only paper losses and will disappear when ORR comes back up again. I would be willing to give you some advice but we would need to meet up on some other board or chat room (your choice which one) as there are too many Oriole rampers here ready to peer over our shoulders and take pot shots! Tell me where and how and I'll chat with you there,your choice m8 I only want to help if I can.
JTB,thanks m8 I appreciate that. Some people just seem to read "the negative view" from my posts - maybe I don't write them clearly enough I don't know (maybe my motives are wrongly judged and so everything I say is viewed thru that lens). Oriole is a very tricky company to get a handle on as the carrot of "impending drill results" keeps investors "on the hook" for a possible big payday! It can be almost addictive! An argument can be made for doing just about anything - selling your house and investing the proceeds in Oriole or walking/running away from it and never looking back!!! Glad to hear you have partially sold as it will give you options.
Pixar m8,I really have to take issue with what you are saying. It is true to say that there are people that try (through their posts) to influence others for their own gain but sometimes it is for other reasons entirely. I have always tried to counterbalance the rampers who do the polar opposite to what you have just said - they talk up the stock trying to make people believe it is a risk-free,solid gold opportunity (some of these people then quietly sell once the SP goes up allowing them to exit!!!). I say what I say for two reasons:-
Firstly, I believe it to be true & secondly, I don't want young inexperienced traders/investors to buy into a company at the wrong time and with far too much of their capital. Stocks like Oriole are high risk and should be treated accordingly. Everybody's individual circumstances are different as are their stances on risk-taking and rather than have some people being swept away on a wave of ramping - I put the other argument. If there were no such thing as rampers you might find my posts a little more positive. Whether you believe me or not is your affair.
Legalwolf,I agree with what you have said on this. There are varying approaches to trading/investing and it is always a risky thing to have solely one view/one approach as each stock needs to be researched/analysed before buying in. I have said before that EVERY stock can be traded it's just a question of finding out how! Some stocks lend themselves more to day trading due to their erratic price movements (AMC or GME for example) whereby some slow moving behemoths fit perfectly into the Low-risk section of a portfolio. Warren Buffett (the oracle of Omaha) was mentioned earlier today and he is famed for taking the LTH approach with his investments but he does NOT think that the same approach would work for ALL stocks/investments indeed speaking of gold companies he spent his entire life avoiding them until last year as he thought them the wrong kind of company for the way that he trades. Also,although he still owns a small handful of companies he originally bought over 50 years ago he HAS taken profit,selling and investing in other companies along the way. My PF is modelled on the Christmas tree formation ie:
40% Low risk
30% Medium risk
20% High risk &
10% Cash
and,although I need to rebalance it every now and then, has stood the test of time well. I have owned some stocks over 3 years and some were bought & sold 3 times yesterday! I am a great believer in being able to adopt ANY trading style required in order to make money - because THAT is the goal here. I do not marry myself to any particular strategy because I think that that limits profits although I understand what people are doing with Oriole it would probably serve them well to use SOME of their stock for short to medium term profit making (which in turn would allow them to grow the number of shares they ultimately own). In other words,my friend, a little flexibility goes a long long way!
...and you friend. I sold my ORR stock on the last spike higher in May so I didn't post either (at least very rarely) and had a family bereavement as so many have with this lousy virus. Get well soon,DST.
Hi JTB, I hope that my part in the "onslaught" yesterday didn't give you the false impression that I have either "got it in for Oriole" or am intent on de-ramping for personal gain once the SP has tanked. Both of these views are wrong. I think that ORR has great potential and will be of interest at a later stage but right now that potential is unrealised and, as both you & Legalwolf have said sometimes there comes a time to cut losses and move on to another proposition (at least until the stock has stabilised/bottomed). There is an argument for getting into ORR at some point in the future with a small amount of cash earmarked for high risk stocks in the PF as it has a chance of ripening incredibly a la GGP but some of the guys on this board are way over-invested in this stock and many seem not to be au fait with the concept of "taking profits" having ridden this train from 0.5 up the hill to 2p and all the way back down again!
I am always wary of using TA on stocks like ORR for obvious reasons but the charts do not look good and haven't done for some time. The stock was "officially" in uptrend after the 18th Jan when we had a candle close above the 200MA on the weekly chart but since then it has been one-way traffic and right now (probably as of 5 July) we will have crossed into downtrend. Without good news to reverse this the SP will continue to drop. Again,I am not saying that ORR will never be a buy opportunity - just not at the moment as others here have said too. Some here need to learn the lessons from this and look to take a more short-term view. The idea is to make money not to compete with each other to see who can hold the stock the longest!!!
Believe me Kwadoku we have our share of rampers on this board too,I'm afraid!
Hi Prof (and everybody else), How's things with you? Did you do that course in TA you were thinking of doing?
Sorry Troajan and thanks for the translation! I'm from even further north than you I think and we have some interesting terms oorselves! Hoots toots ocheye the noo! (i'm a bit of an old fart myself too!)
Troajan,forgive my ignorance but what the hell is a "Togger dude"? I am struggling to understand your last post!
JTB,you seem to be an experienced trader/investor so I am sure it won't take you long to recoup. The lessons that the stock market give are rarely cheap but usually enlightening. We walk away bruised but return for the fight again tomorrow!
Hornygoatweed,firstly I was posting to Leathal not you. Secondly,I didn't mention any stocks by name but posted about reducing exposure to high risk stocks like Oriole. Thirdly, Leathal and I (along with a number of other people on this board) post our opinions freely with idiots trying to butt in. Fourthly,if Leathal (or indeed you) don't like reading my posts then usage of the "filter" option is advised! Does that clear it up for you, mr weed?
Hi Leathal,glad to hear that you have adopted the "partial sell" strategy with ORR. Might I suggest that you avoid putting this cash into another high risk stock but rather something more medium-risk? Stocks of that ilk won't get your knickers wet, so to speak, but they will get you a modest profit and it will give you some blue to counterbalance the red in the other half of your PF. If nothing else it will keep you sane!
Hi Bridgedogg1,Troajan was not talking about shorting these small exploration companies but rather short-term trading them. At least THAT is what I do and I think that was what Troajan meant! I'm not sure how you approach the market but I read somewhere a very long time ago when I was starting out (1986?) that EVERY stock CAN be traded you just have to work out how! Some lend themselves perfectly for daytrading,some for short-term trading, some medium term and some are LTHs. My PF reflects this as I have some stocks I've owned for over 3 years and some I bought this afternoon that I've already sold!!! The inexperienced (or those with an agenda) will tell you that THEY are investors unlike those horrible other people who are !traders! and look down their noses at you but the actually truth is that everyone is a trader AND everyone is an investor because ALL traders are investors AND (you guessed it) ALL investors are traders! What they are talking about is short-term traders of course but EVERYBODY short-term trades some stocks because it is too dangerous to do anything else with them! If you read The Zurich Axioms (one of my all time favs) it does actually comment on this precise thing (I don't remember the chapter but it is early in book). Whether you want to call yourself a trader or an investor BOTH descriptions are of speculators as both trade cash for shares and then trade those shares back for cash again later - preferably for a profit! I hold stocks for as long as I can make a profit on them but I won't hold them too long if I figure I can make more money elsewhere (though PF balance is a very important factor too). Hope this helps. Good luck with your trading/investing.
OK,one VERY last word!!! Legalwolf, you are right once more (I am finding that I'm agreeing with you quite often!) and I am ONLY trying to temper the excitement of those inexperienced traders/investors. If we only ever posted positive things about ORR people would think that it was "a done deal" and that the risk was minimal - which is just not true. It is the self-serving dishonesty of rampers that really ****es me off and drives the need for me to counter. I can say,hand on heart, that I believe that in the end Oriole will be successful and WILL make money for those willing to wait that long. I can also say that at some point in the future when there is more meat on the bones I will get interested again but not atm. GLA