Member Info for pipedreamer

I sympathise,Charts take out the emotion.For what it's worth charts say a buy point of circa 221,which it had reached and long term charts look good.I baulked at buying,but if it ever goes below 230 I will buy. That's what I have decided.If it goes below 205 I will sell as the next support level is some where near 150 [would need to be redone]. So I reasoned that it would be worth a punt soon,if I am wrong sell up and get on at some 25% cheaper.You could always wait for it to break out of it's downward channel that it's in.That's a safe bet,but you can miss out on buying at the extreme bottom.You pay your money and you take your choice. It's all a gamble.But I see it as a gamble worth taking. Of course this is only my opinion based on charts,but it does take emotion out of everything.Everybody must decide what they are going to take notice of.

What's the pullback going to be,will it touch 228p ?.

Tried to go higher than 141.7,but after numerous attempts finished lower.Needs to smash through that ceiling tomorrow. Sure is hard.

It will break up or down from there,hope it's up !!!.Other wise it may retest the 138p and possibily reach 136p. From there it really needs to move up.Don't want to see any weakness if it reaches 136p. I'm looking for 150p,but it needs to get there sooner rather than later.

Anybody seen him ?.Hope he hasn't gone for good.He is a valuable asset to any BB. Anybody know what the last thing he said was ?.

I thought the support level was 22k to 22.5 k. on the Dow ?.No surprise to see a pause in the S.P.,It's risen in almost a straight line from 131.9. It doesn't go up to 250 in a straight line either.Support at 136,we hope,perhaps 138.

Thanks for the reply..It's nice to know that i'm on the right page,so to speak.

Yes agree about BT,my finger is hovering on the buy button,but with volatility around it's pulling hair out time. Centrica almost straight up from 131,so where's the pause going to be, before we move up again ?.While on hols some chart gave me 148 high on Centrica,which was wrong,so wrong calc of 133 correction. Anyway,bought at 136,[ok I jumped too early],but am worried that the last [and final ?] move down to 124 may not be the last down move,[because it makes 3 moves down,not 5.].Any help here ?.Was it a 3 wave down move to 124,and therefor the bottom ?. Or is there still one more move down to 115 or test 124 ?. Any help welcome,haven't enough experience to decide which scenario is right.

That's good still going up.Probably a pause coming soon before we get to 145/6p.

Come on guys,charts are only probabilities.Lets see if it goes to 133 next.It's only an exercise in monitoring the small moves,and from there we hope work out the bigger trend and direction. 136.8,138.25,not a lot of difference,and i'm not a day trader,just trying to work out the small moves at the moment. Lets see if it goes to 133.8 next. No worries if it doesn't,it's the big moves that we are interested in.Each to his own.How do you Littleaston and stewball pick the lows of shares ?.

Should be resistance at 136.8.

Yes and one you mentioned when asked after the '73 crash why the kept on tipping shares throughout the crash replied, that it wouldn't have made for good reading,and basically as a tipping business they had to tip something!!!!!!!!. What a poor excuse!!!.People need to tell the truth.Nothing wrong telling people to sell up and go into cash if that's what you really think.We all know that as regards the business cycle we are in the late stages.,i just hope it's not later than I think !!!!!.

It is said that the market hates uncertainty,any whif of anything to do with a share or markets as a whole and they sell taking the view that they can always buy back later. Is this an extreme example with Centrica ?.Will Centrica only rally when Corbyn et al get well and truly routed?.As t On another tack,i worked out the best I could that the Footsie would peak sometime in the next 2 years especially with inflation being another factor that would then pull the markets down. With the Dow doing a lurch down last month and everybody now going to be queuing up to put in their wage demands,the question has to be asked,Is it all going pear shaped now?. Looking to America and seeing interest rates trying to push higher, is all a distinct possibility?. Interesting times ahead.I certainly hope it's not the start of the big fall.I'm banking on the market going up,and that the recent Dow et al collapse was just a temporary blip.Fingers crossed.

Having been in the Canaries for my annual monthly rest,i didn't have access to printing off charts.Since I came back trolling over the charts I now see other scenarios. It still reads that we are [probably] near the bottom.The thing is that Centrica is a difficult chart to read.But it still says that 115p is a major support,faliure there would mean the terrible scenario of 85p next stop.I must say this small point.I am happy that Kellogs comes up with the same scenario [two chartists working independently coming up with the same figures ]. I fear that 133p will not hold,even if it rallies to 154 eventually.I KNOW that this is a change of tack,but as people tell me there are no absolutes.And they are correct [EVERYTHING is a guide ].I'm sure that we are ALL trying to do our best here concerning the share price of Centrica.. Looks like i was premature,[like a lot of other posters on here].Remember i have never slated anybody on here,even when as it seems that they have bought loads at a much higher level. I do not practise Schadenfreud,and have always had the motto that it is not enough for me alone to be happy and successful,i want everybody else to do the same.[succeed], [with apologies to Alexander the Great,there again he was a classic example of Schadenfreud !!]. So lets see what happens.A fair bet is that 115 is the bottom,but with this share who knows !!.I bet the holders of Carillion Shares thought exactly the same as us at this juncture.So i say again,do some people know something that everybody else doesn't know?. If thats the case,no amount of TA or fundamentasl et al,are of any use.I suppose that's the risk we all take.

So you use systems.So it's not just a gut reaction ?..Wish you said this before.Can you elaborate as to the systems that you use ?. Based on your own research .or something is it else ?.

Blimey,well I suggest people spend 10 hours a day pouring over calcs for loads of shares.Or we could always use a gut reaction. But excuse me,isn't using a gut reaction being lazy ?.Each to his own,but is it that easy ?.Is it not true that people think that the hard things to work out are easy,and the easy things to work out hard ?.Emotion should be left at the door when making financial decisions.Can work for a while,but long term ?. Could be that somebody knows something that we don't know ?.Makes every calculation using Charts or fundamentals irrelevant. My PENCIL needs sharpening.

Yes Suf I did the calcs with the move since it peaked at 148,that and Kellogs saying 136 was the support level,i thought 136,the figure I had updated would be the figure. Before that,when it looked that 148 was the peak, I looked at the move up from 124 to 148,and the calc then was 133 support level.So I just hope it holds this level. We can only wait and hope.Yep it sure is hard this game.

After the sharp rise from 129 to 148,a correction was in order.We are now at the point where it needs to recover. So altho the last 2 days have been depressing,we are still in the ball game. Lets see how the Dow does,lets hope for a Dow rally that pulls this up a bit at least.Well that's the Chart view.Agree with you all that it's like pushing mud uphill !!. One would imagine with such a fall in the last two days we would get some bear closing.If you shorted at 140 say,looking at it,wouldn't you close your position soon ?.

Looking at a chart with the moves since 5 days ago i can see how we get to support at 133.18p,so I guess that's what is key at the moment. The Dow is at a crucial stage and it musn't close below 23860,or 22000 is the next support level.The problem is that it could pull everybody else down with it,so nervous times ahead.

Well Daytrader,nothing wrong with your point of view there.Sound logic and good solid points you have made. Surely you would be insulted if anybody read your post and concluded that the way that you made your money was down to luck or that it was basically in the end a result of a guess on your part. From what you have said you have worked hard and used sound logic,and I agree that all things need to be taken into account.My first love was horse-racing and you may have seen one of my posts where I said that I used pattern recognition,and probability analysis resulting in clusters on a big Saturday racecard to pick winners. As I can only get to the ballpark region of where the winner is and not the exact winner on a racecard,i decided to use TA that I learned in the eighties and combine it with the same way that I find winners of horse races.Using the logic that I only need to be in the ballpark area of where the bottom was,and not the exact.bottom figure. I am in the process of doing that now. I never bothered with the perception that I had [ok well it was based on math],that gold would bottom at $250.That calc I did in about 1981,some 15 years before!!.[shame I didn't tell George Brown !!!!]. That and scouring all papers to get confirmation that logically Betfair was a great buy at �7.50,and not finding any,and passing on buying them,under the thought that,"how could I be right and everybody else wrong"[and SO many times I passed on backing massive priced winners on the basis that I couldn't possibily be right !!] .So I decided to take this course of action,and apply myself more to shares than horses.Both are a massive drain on the energy of my 69 year old body,and so I have tried to find a computer programmer to help me or do it as a business. ,From what I know of websites,they earn fortunes from advertisers, because of all the "hits" on these sites that are basically not very informative.A lot of my selections are very good,be it winner in 3, 4,or 6 selections at 100/1 130/1,140/1,and once even 220/1.generally from one big race a week. Anyway I digress ?.I seriously suggest that you don't bother with day trading,and concentrate on other things. Do post on this BB as we now know that what you have to say will be extremely useful and interesting. Good luck with all your future ventures.Sorry that we got off on the wrong foot.