Chart Watch 2007-04-02

Long delay since my last real post. Like most people I've had a extremely busy couple of weeks with weddings, family, football and work. Currently getting ready for a trip to Dallas so the next couple of weeks are not going to get any better.

A couple of my holdings are currently at areas of interest so I thought I would post their charts.

Industrea - IDL


Industrea is a stock I have been following for a while now. It has been on a consistent, strong uptrend and formed a strong hammer on the 28th of Feb when the market had its first scare.

Last week IDL traded between $0.40 and $0.41 but today along with the all ordinaries has closed down currently trading at $0.39. Nanine posted late last week that she has sold her holdings.

Albidon Limited - ALB


Albidon Limited is a minerals exploration company that has benefited from the recent increase in nickel prices. As the chart shows, ALB has seen on a strong uptrend since mid January and I took a position in ALB a couple of days after the correction at $2.19 on the 7th of March. ALB has since surged to a 52 week high of $2.77 and closed today at $2.66.

I will keep a close eye on the lower trend line, count back line at $2.48.

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Chart Watch 2007-03-04

Along with the All Ordinaries, the handful of stocks I have been following have taken a hit this past week. I agree with MATT O'SULLIVAN - SMH article. I'm anticipating further declines but still old a bullish view overall. The market needs to have a shake out to keep investors and share prices inline. With that view CFX, CQT and IDL are being stopped out. We will continue to follow CHC, as it has been the standout performer of the list, and well above it's stop loss.

Below are two charts that support the view that the fall last week looks healthy, and that if it is a correction it has further to fall.





So how are other traders handling the current conditions? Right now I'm cashed up, looking for good buying conditions. I've found this correction profitable so far, having made 2 three day trades with IDL and EVE. I bought both for the same reason that they had both been sold off too much. Other traders took the same view with both stocks rebounding strongly the past couple of days.

Finding strong up trending stocks will be tough, but we'll run the scans early this week and see what is returned.

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Chart Watch 2007-02-24

Added yesterday as an opportunity, CFX reached an intraday high of $2.50. Our stop has been moved one cent higher to $2.40.

Charter Hall - CHC



CHC has been very active over the past couple of days after the release of the first half results which were very encouraging. NPBT increased from $7.8m (1H FY 06) to $16.7m (1H FY 07). A complete list of key activity is outlined in their interim results presentation. Our Stop loss has been moved up to $2.44.

Conquest Miming Limited - CQT



After retracing back to our stop loss of $0.79, CQT has had a couple of higher days moving our stop loss up slightly to $0.795. Long term group still has good separation, and the short term looks to be turning up.

Everest Babcock and Brown Alternative - EBI



Looking very strong, EBI made an intraday high of $5.23 yesterday. Our stop loss has been moved up to $4.95. Separation between the long and short term groups is a nice consistent uptrend with little fluctuations.

Eastern Star Gas - ESG



ESG has been looking weak for the past week and has now closed below our stop loss. The short term and long term groups both are not displaying up-trending characteristics and an exit should be made on Monday. A fund raising was announced during the week at $0.275, which coincided with our stop loss.

Industrea - IDL


CFS Retail Property Trust - CFX

The stop loss for IDL has been moved up to $0.37. IDL's half yearly report was released during the week with the key stats being "Net profit Before Tax up $7.4 million for six months to December 2006" and "Upgraded full year earnings guidance by $2.6 million to $14.9 Million". A lot is happening at IDL and I see further potential in this companies share price.

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Chart Watch 2007-02-16

Indusrea - IDL

Industrea keeps making new highs. Our stop loss again gets moved up, now at $0.35 which puts IDL into profit. For the fundamentalists there is a lot of infomation available about the IDL story, including an article in the Smart Investor. This information can be download from Industrea website

Eastern Star - ESG
is in a trading halt, keep on eye in the news if you can as the stock sits right on our stop loss.

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Chart Watch 2007-02-15

Industrea – IDL



Industrea stop again has been moved, now at $0.335. A close yesterday of $0.365 and and intra-day high of $0.375.

Bluglass Limited (BLG)



Bluglass closed below our stop loss of $0.545 at $0.54 yesterday. The trend is looking week and an exit should be made tomorrow. It looked like support was going to hold at $0.55, but the I'm not confident the short term group will respond favorably .

Charter Hall – CHC



We decided to stay in CHC, even though the stop loss was broken last week. The trend wasn't weak enough to exit. Looks like there is short term resistance at $2.50 and a close above will be encouraging. Stop Loss remains at $2.42.

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Cold Minnesota

My whirlwind tour of USA continues and I'm blogging from freezing Minnesota. Not my type of weather and looking forward to flying out on Sunday to Denver.

A lot of the ASX opportunities finished higher and Friday with IDL's stop moving higher.

Industrea - IDL
IDL reached an intra-day high of $0.35 closing at $0.345. Our stop has moved up from $0.31 to $0.325 based on the count back line.

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Landed in Miami

Well I've landed in Miami and unfortunately my luggage is still in Sydney. 8th trip in USA, 4th time my luggage didn't make it all the way with me. Hopefully it arrives tomorrow.

We had some good moves in some our opportunities.

Industrea – IDL
Closed at $0.335, with an intra-day high of $0.345 reached past two days. Stop has been moved up to $0.31

Eastern Star – ESG
Closed at $0.335 with an intra-day high of $0.35. Stop stays at $0.275.

Charter Hall – CHC
CHC closed below our stop loss on the 31st. Trend still looks in tact with the guppy MMA and I'm inclined to watch this one over the next couple of days instead of enforcing the stop.

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Chart Watch 2007-01-23

Couple of good days with the ASX opportunities and we have some stops moving up based on our count back line.

AUSTIN EXPLORATION LIMITED - AKK



Closed at $1.015, up from $0.88 at recommendation. Count back line moved up to $0.85 from $0.79.

Industrea – IDL



Bounced nicely from the long term group, and stayed above out stop loss of $0.305. Current close at $0.325, but still below the $0.33 recommendation.

Eastern Star – ESG



Uptrend looks intact, stop loss still at $0.275, current close at $0.295

Charter Hall – CHC



This one keeps moving up. Stop loss has been moved up to $2.39, current close at $2.50

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Mid January Review

MarketNinja has been up and running for around half a month so far. I thought it would be a good time to discuss some of the opportunities I have alerted readers to, and the dismal performance so far. I was alays nervous of this when starting this blog, hopefully this will turn around.

Charter Hall (CHC)
Added $2.25, stop $2.17
Current $2.40, stop @2.23
Made a good move on the 12th but has reached resistance at $2.40. Trend still looks string. Stop hasn’t moves into positive territory yet.

Eastern Star Gas (ESG)
Added $0.32, stop $0.275
Current $0.295, stop $0.275
Short term trend looked like it was broken and an intraday low of $0.25 was reached on the 11th. The short term group has since bounced off the long term group and has yet closed below our stop loss. Long term trend line still intact.

Industrea (IDL)
Added $0.33, stop $0.305
Current $0.34, stop $0.305
Has reached resistance at $0.34,

Riversdale Minerals (RIV)
Added $2.20, stop $2.07
Current $2.05
Closed at $2.00 on the 11th below our stop loss.

Sunland Group (SDG)
Added $3.66, stop $3.53
Current $3.83
Closed at $3.41on the 8th below our stop loss. Trend has since been restored providing another entry into the stock.

Envirozel (EVZ)
Added $0.41, stop $0.385
Current $0.38
Closed below our stop on the 17th.

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Chart Watch 2007-01-14

Alliance Resources (AGS)


Alliance Resources (AGS) is an excellent example of Guppy Trend Trading. From its initial breakout from around 30 cents, Alliance has provided only two exits signals using the count back line as exit ($0.75 and $1.69). The exit signal that occurred at $1.69 was when a JORC result was delayed, now due early 2007.

AGS has provided re-entry signals at $0.80 and now it looks like a new entry signal is being provided. This week we will be looking for the short term groups of Guppy MMA (specifically the 3, 5 and 8 EMA) turning upwards indicating traders are re-entering the stock.

I like using AGS as an example of why traders shouldn’t be afraid of stocks that are continuously making new highs.

Envirozel Limited (EVZ)


Envirozel Limited (EVZ) has not provided an exit signal all the way up from its breakout at around $0.16. Long term group show s a nice constant spread, short term group demonstrating healthy retraces towards the long term group. Current count back line at $0.385, close on Friday at $0.41.

Indestrea (IDL)


Indestrea (IDL) keeps maintaining a constant spread between the short and long term groups. Healthy retraces occurred along the way, with the pull back on the 2nd of January of most interest testing the short term group, reconfirming the trend. Current count back line at $0.305, close of Friday at $0.33.

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