Member Info for graysland

Any idea what happened today on SBT. After yesterdays chat and advice to buy in at 43p i put an order in. Never thought it would be hit today and now i find myself long on this stock. Appears to have been a spike but wondered if there was any fundemental news out as obviously i only use TA on it. Quite happy with my entry price though but will obviously have to monitor my exit price now. Cheers

Well it finally broke 172p. Now it could get interesting. If we now back test that 172p area and it holds, then down we will come in my opinion. It's gotta get back up quick or i will get my 160p afterall.

Ok i'm in. Watched for a while and price just too tempting.

Ok heres a quick run down on some of those stocks . All have been beaten up recently and the technical indicators reflect this. They will have to bounce soon even if its just a relief rally. So although buying in where they are at the moment will probably get you a profit at some stage its always best to get the best price. MUBL looks like it has a touch more downside but if it reaches 40p i'd be very interested in buying. XCH has been on my watchlist for some time and had an extreme price target of 60p,which i never thought i'd get so very surprised it is where it is. Out of them all XCH is the one i'd be interested in buying now for a quick 10% profit but would probably bail out at 57p until the share price settles down to a more readable chart. SBL - very similar to MUBL. A touch lower to 43p but that would be a good price (with a bit extra kept aside if it kept falling to 37p). Strong resistance at 53p so would bail out at that price but thats a cool 20% from the entry price. Remember, this is purely based upon TA and my strategy is to be happy with a 10-40% profit depending on the stock and of course just one mans opinion. Good luck. Let me know how you get on. I can post charts that have guided my thinking but would have to do it tomorrow if you wanted them as i'm knackered tonight

Haven't looked in on the LLOY board for a few days but i know how annoying it can be when people start talking rubbish. In my opinion, stay the hell away from the banks ....particularly LLOY and BARC. There is alot more to fall on the FTSE and wouldn't surprise me if we see 5500 by the summer. A break of 5900 and the rally is DEAD ......short term anyway Technical indicators on both those banks and the FTSE are in absolute nose bleed territory and bearish divergencies especially on BARC giving a sell signal and the share price could fall quite a bit before they reset themselves. As banks are the biggest contingent on the FTSE they will not be spared in my opinion. Personaly i have 55p as a price target on LLOY and 280p to 260p on BARC although that could be amended depending on what kind of pull back we get. Just my opinion though. Good luck whatever your position is.

Another interesting stock you have on your watchlist. Might add it to mine. Obviously a break out is imminent on that one aswell. Decided that i'll buy if we break 88p but if we break 80p to the downside then it targets 70p, so will buy in there at that price , also depending on which one comes first. An easy 10-20% profit in my opinion and would look to sell at 100p or 110p.

Yes i had noticed. Not sure whether to consider it bullish as it seems to recover in the afternoon or bearish because the bears sell it down in the morning. One way or another i think we will find out soon. Decided i'm gointg to buy in if we break 176p or gets close to my 160p target which ever comes first. Either way almost guarenteed a profit i feel. As for YELL, dont talk to me about it. It was a nice board but has now been hijacked by a 1st class ar$ehole. He has no idea of how the markets works or anything. Just one of those wierdo's you pick up on these boards from time to time. I'm sorry i missed your post but when someone posts utter garbage ever every 2 mins it kind of clutters up the board and you miss the odd decent post like yours. Cant see 6p (at the moment anyway) but interested in your thoughts as to why. I'm 25% down on it at the moment but confident of getting a profit.I will review my position when we get closer to 10p. I was a touch too aggressive on that one. One of the reasons i'm waiting for a trend change on PRTY. Should have waited for the break of the descending channel first but jumped in. It will break one day and technical indicators are absolutely on the floor at the moment. We shall have to wait and see.

So much harder to visualise without a chart, but i get what your saying. I noticed that it had a go at breaking that 172p area this morning before just about holding on. Thats roughly 4 times now. I'm wondering if it will break on the next occasion? But holding on and breaking 176p would be very bullish in my opinion. If it does break 172p (and stay under of course) i might wait for that strong support at 163p you mentioned, to buy a trench of shares and buy another lot if it hits 160p - 155p area.

Yes i've just noticed that there was a very strange end to the day and on massive volume in the last 30mins. Also interesting that it traded withing those pivital points i mentioned the other day of 177p - 172p (i know some technical analysts like to use decimal points but it's just my way to normally round it to the closest penny) and yet stayed bang on Ivaylo's 174p. Definetely confirms to me that TA is what is driving this stock at the moment. Ivaylo- i'm not a big fan of motive waves personally and i use volume as a 'confirmation' of a trend as apposed to necessarily trade based upon it......but as you know , most chartist's differ slightly in what works best for them. I get your point about 'descending triangles' are often easier to identify on larger time scales, but in my opinion they can occur in any time scale like most chart patterns. The one i was looking at is of course a vert small short term one, but as of yesterday, it has now hit the bottom of that triangle 3 times now , which for me qualifies . So here is my take on it . The reason we swung quite wildly at the close on Friday is because we did breakout of that sideways triangle i mentioned in my last post.....and it was to the downside. http://img442.imageshack.us/i/prty.png/ Check out the price movement as soon as we broke out of it and if you check out the volume during that period , it spiked quite significantly. We then saw a back test of the breakout (which virtually happens on every breakout) before finally settling at 174p. It is obviously very early days, but i wouldn't be surprised if we see a down day on Monday. If we break 172p then i'm afraid it could easily be a 5% down day aswell, as that descending triangle will be confirmed. However, a break of 176p-176.50p (previously 177p) and you could quite neasily see a 5% breakout to the upside. In my opinion it is as close as that and i think we will see an interesting week next week. Hang onto your hats.lol. As ever just one mans opinion and interested in hearing what others have to say.

Well everything is still playing out for a back test of the breakout and bounced back up. STOCH indicator in oversold and looks like it wants to push up and other indicators relatively oversold enough for a nice share price rise. However, we saw increased volume today and yet it was a big battle between bulls and bears forming an indecisive Doji candlestick. Therefore, we could see a nice rise in the next few days but i have an alterantive pattern that targets the 130p area, so i'm prepared to double up if we get to that price in the next couple of days.

Looking at my TA, i agree that tomorrow is looking like crunch time and you will probably see a more exciting day. Problem is which way as it could go in either direction. http://img146.imageshack.us/i/prty1.png/ We are smack on resistance from the descending trend line and i reckon a break of 177p and this thing should fly. I can kind of see a potential bullish falling wedge but if i'm absolutely honest it feels like i'm forcing the chart to try to make one and i always feel a touch nervous when i do that. What i can possibly see though, are 2 potential bearsh patterns forming. 1st) is a very short term sideways triangle or potential 'bear flag (indicating indecision between bulls and bears) which we will breakout one way or another tomorrow. Problem is more often than not it breaks out in the direction of the trend.......which in PRTY's case in unfortunately DOWN. Not guarenteed that will be the direction but odds favour it. http://img152.imageshack.us/i/prty2.png/ 2nd) Is a bearish flat bottomed triange (also shown on the 1st chart) and a break of 172p would confirm it. Next couple of days could be exciting and could rally from the off tomorrow, but personally i'm going to wait to se if we get closer to my 160p target. If i miss the rally then good on you guys. Just my opinion though of course .

You asked me to have a butchers on this stock from a TA perspective but i wish you'd asked me a couple of days ago as would have invested at 8.25p. http://img524.imageshack.us/i/hve.png/ It has of course been i a 7p- 11p trading range for months, but this is a perfect example of what happens when you break out of a sideways triangle. Of course it could have gone either way as sideways triangles shows indecision between bulls and bears, but at such low levels and at the bottom of it's trading range it was virtually nailed on that it would be to the upside when it did. It broke out on the 14th at 8.25p. Notice the almost obligatory back test the very next day back to 8.25p and when it held that was a massive BUY signal and so it proved to be. However, what to do now depends on your current position. If i'd bought in at 8.25p i would be running for the hills and taking my handsome profits with me. We are now at the top of it's trading range, massive resistance at 11p-11.50p and just look at those technical indicators.......nose bleed territory and a bearish wedge formed on the STOCH! Obviously i havent had time to look at the fundementals of this stock but it will be very hard for this rally to continue until they have cooled down a touch. Of course a break out of 11.50p would be very bullish, but i just cant see it happening at the moment. If i was looking to open a fresh position in this stock, i would wait for a break of 11.25p , for it to back test (as it will undoubtedly do) and if it holds, you get your 2nd BUY signal. Buying in before that is just too risky as it could easily trade all the way back down again to the bottom of its range. Of course remember that this i just my opinion and what i would do, but hopes it helps .

Thanks for the reply. Always interested in how other chartists work as we all work slighty differently depending on your trading strategy. Shame about the charts. As long as you a have a basic Windows XP i can show you how to do it if you want. Forget all that expensive software rubbish. Cant claim any credit for it. Someone else had to show me how to do it when they wanted a chart from me. Lol !

Nice to know. Not evetone's cup of tea and a lot of unbelievers. By using it i only lost money on 1 trade last year. All the rest were winners. Add those 10, 20 and 30% -ers up and it adds upto to a pretty penny i can tell you. Doesn't mean you're never sat on a LOSING trade, but a well experienced technical analyst will always get a pretty good entry price before they get their profit and even if they do get it wrong, have all the tools to trade themselves out of it. Best thing i ever did was researching it. about 10 years ago. Wasn't easy and nothing can teach you quite aswell as hands on experience but before then i was doing what most do and just 'guess' that it 'looks' cheap or expensive. Made some money but often lost just as much. Now i very rarely lose and it's all because of TA.

Hope you dobnt think i'm butting in, but i saw you asking about WIN. I bought that a couple of weeks ago at 137p as the TA was suggesting a rise, which we got a few days later when we broke out of the descending trendline. Then sold at 152p for a very quick 10% profit a few days later ,waiting for the almost obligatory back test to the break out of that trendline which targeted 140p area. So i am now long again at that price. If it holds you could see soe nice upside again from here. Just my opinion though. Apologies to all PRTYers for talking off topic

Thanks for the welcome. Very gracious of you. I'm pretty confident thant anyone buying in trenches at this price and lower will make a nice profit whatever happens. Personally i try to wait for the best possible price to be hit or a 'buy signal' to be triggered, so i'm patiently waiting at the moment on this stock as with a few other stocks. As for LLOY, it does of course all depend what your trading strategy and time scales are but we will see alot lower than 63p in a few weeks time in my opinion. I'm hanging on for 55p but a little like yourself i might buy a trench at 60p and then double up at 55p. You've done well on BARC. You may have seen me post on that board. I've had 320p as the target for the top of this rally but wouldn't touch it with a barge pole now that it has hit my target. Next big move for banks will be DOWN along with the FTSE.. Break of 305p and BARC will head for 280p and then 260p. Then i will have another look at buying in. Al the best

I never pay attention to any after hours trades. Always fel too much emphasis is put on themoith very virtually no affect on the next trading days session. Thus the reason we often still see a fall in shareprice the day after close of day trading and vice versa........but thats just my personal view. So many other things to monitor which have a greater affect on the share price. Ivaylo- i'm always interested in a fellow technical analysts thoughts on a specific share and general market. Have you a chart you can post with your conclusions to see how it compares to mine?

Just to let you know i've bought back in at 140p after making that quick 10% profit the other day. Hoping this is the back test of the breakout we saw on the 8th that i talked about. If it holds , you could see some nice upside in the days ahead.

Very true. It never ceaes to amaze me though , how many people dont see the connection between sentiment and TA. Often the type that loses money unfortunatley. I'm a relatively short term trader, so regularly take my 10-30% profits and then move on. Means i miss the odd multibagger but thank god i miss the crashes aswell. So as stated before, my entry price will be a break of 182p or 160p whichever comes first, but on this stock i will bail out at 230p (at time of posting) but might reduce that if i get 160p.

Yes i noticed a couple of chartists on here. I deal 90% TA and 10% fundementals as i believe it is 90% TA and 10% fundementals that drives a share price for most of the trading year for virtually all stocks. Always appreciate the hard work of others on the fundemental side of things as i dont have the time to do it . Remember, it still has to break 182p for me to get bullish because until it does, 160p is still my preferred target.