West. Coal Share Discussion Threads

[edmondj] 26/3/2010 15:13

RS2000,

Cheers for your rejoinder.

I'd just add, Jesse Livermore, a grand daddy of all stock traders, eventually came to the view: 'the big money is in sitting not trading.'

Momentum looks strong in Canada, lots of buys today...

[energiser01] 26/3/2010 14:52

I'll take profits on this for now, feel as some others that an element of profit taking will kick in as the strength of the rise has been to take a breather. Shouldn't forget some FY year balancing of books, cgt etc. are also likely over the next week or so.

I'm still positive on this and will certainly be watching and waiting for another entry point. If it doesn't play out that way, there's always other companies to look at.

dyor etc.

[papillon] 26/3/2010 13:39

Both WTN and GCE opened up on the TSE.

[papillon] 26/3/2010 12:21

It looks likely it will open up higher on the TSE this afternoon.

[gowtn] 26/3/2010 11:47

Rs2000 good luck with your theories but they dont apply for WTN imo. WTN is like an out of control bullet it does what it wants and can surprise everyone in either direction up or down. Imo we are headed for $8+ but each to their own theory.

[rs2ooo] 26/3/2010 10:24

EdmondJ - 26 Mar'10 - 08:21 - 479 of 480


What relevance does some crude straight line have

--------------------------


EJ,

Much more relevence than most "investors" such as yourself could ever imagine!

A straight line on a chart defines support and resistance, the simplest, yet ultimate method of understanding supply and demand for the stock in question.

It was a "crude straight line" that got me into the trade at 138p a few Months back.

I changed from being an investor to a trader, and will never, ever look back.

Educate yourself with this link to the charts of Stockcharts most followed trader:



Ultimately, the proof is in the pudding - The liklihood of WTN finding support above yesterdays high in the short term is unlikely, and this is because at that level there becomes more supply than demand regardless of "valuations". As with any type of trading, it's not always possible to call things correctly, but we have to act where the highest level of probability resides.

[crawford] 26/3/2010 09:31

sold out for now.

[edmondj] 26/3/2010 08:21

What relevance does some crude straight line have, with the macro issue of demand from China/India and the micro factor of WTN's operational gearing to coal prices as a low cost producer?

[rs2ooo] 26/3/2010 00:02

eeny,

I've not studied the market for any long positions but have been looking for signs of weakness ready for when the market rolls over.

First of all, starting right here, WTN hit gap resistance today, I didn't spot it until I got home and charted it, and I will be selling the remaining part of my holding in the next day or 2 - probably when tomorrows gap down gets filled.

From a fundamental point of view, not sure if I fancy shorting WTN, but the chart is screaming out for a visit to £3.15 - £3.20 where consolidation will HAVE to take place before any real expectations of finding support above todays high.




As for other stocks, all I'm currently watching are FRES and TPK, both of which I would like to short soon. Word of warning on FRES though, demand for Gold may increase further and this could drag silver with it.

And TPK ? well, the chart isn't ready yet and may take a while to confirm, but I don't like the sector.

[robbyf2] 25/3/2010 22:51

Good luck PB....enjoyed your company for the last, er...how many years?

I'm hovering over the sell button!! There's never the perfect time is there?

Cheers
Rob

[papillon] 25/3/2010 21:03

Hi eenyweeny. Yes pbracken seems to have called it right today. It looks like we will open below £3.90 tomorrow.

I fancy another coking coal stock CDN and its parent PRL. Be interested in your chart opinion eenyweeny.

[eenyweeny] 25/3/2010 20:33

Wow folks!

After all my efforts here with this board and TA I'm the idiot that goes and misses the big ride! D'oh.
Anyway congrats to all.

However WTN has now hit my 403p target zone (post 417) and if I were a holder I would take profit at this level. I obey my charts and targets with cold efficiency these days. Having said that, , , if I had been paying attention on a daily basis when price bounced off 184p in early Feb I would be rejoicing now instead of merely commenting. humph

I'm trawling the entire markets slowly looking for my next victim. Any ideas out there? I'll share if you'll dare?

Cheers

[pokerbrat] 25/3/2010 16:17

Well, my buy at 196 is looking damn fine now. I just wish I'd had the conviction to take a full position, but hey ho.

I have cashed in today as the chart looks parabolic now and profit taking will commence soon. I will be looking for this to find some new support before I buy again.

gl

[papillon] 25/3/2010 16:01

I still hold pbracken but WTN could have peaked in the short term. I like the look of CDN short term.

[energiser01] 25/3/2010 15:10

At this rate it'll hit $10 in a couple of weeks. Good times.....

[crawford] 25/3/2010 14:00

QS9,
the analyst suggested $10 within a few months.

[pbracken] 25/3/2010 13:50

Well, I've closed my LONG today. Great ship to have sailed in - best of the proverbial to those that remain.

I see edmundj has changed his tune. Fairweather an' all that.

[gurp] 25/3/2010 13:49

with Toronto providing a lead it's not such a psychological level

[qs9] 25/3/2010 13:48

did the analyst say he thought it would be over 10 bucks or is that your view phil0001 sorry cannot access the link

[fuiseog] 25/3/2010 13:43

Well a great lead from Toronto going through the C$6 barrier (ask 6.16, bid 6.15), dragging London over £4 (5%+ up on the day).

Hope it can hold the £4.

fuiseog

[mcmather] 25/3/2010 13:37

And off we go again.

[qs9] 24/3/2010 22:48

10 bucks, happy days that will be near to £7....nearly double where we are now....nearly 6 bucks today up sharply again.

[edmondj] 24/3/2010 14:44

'This company has really good torque.'

lol, he sells it better than me!

[phil0001] 24/3/2010 14:16

Some interesting comments from this fund manager/analyst answering questions on WTN last night in Canada. Could be over 10 bucks in the next 90 days!!

It's on BNN again and 13:45 into the segment

[mcmather] 24/3/2010 13:27

Cheers Edmond / Phil.