GKP

Hi - So which is it - Is it a buy at this stage or is it a wait and see? (Sold at 147.50) this morning (feeling a little deja vu) this time last year if I remember

This is currently broken out of the channel. If it finishes below the channel then that would give it a target of 136 as the channel is 22 points wide.
So a finish below the channel and my entry at 151.4 will be deleted. So basically i wont be going long on this tomorrow from that level but the trades still on for today on a first attempt basis. This is going to be cancelled at 4pm as i dont like having trades on in the last half hour.
A finish below the trend line will most likely bring lower prices.

dl.dropboxusercontent.com/u/20815047/GKPweekly22_04_13.gif

Uhmmmm....??

[This is a weekly chart and it's only Monday]

Tejassi,

this is what I meant about GKP not being a good company. Shady bankers in control and manipulating things for their own benefit. You have to balance the bad against the asset.

161 now looking like a good call (if it was a call ), but as I noted previously - once support is broken all bets are off and the sp becomes a lottery. It is too late to repair now. The main (only) indicator to look at now is volume IMO. 10MM+ in a day might indicate that a bottom has been reached and 162.50 has not achieved that.

Apologies for non TA talk.

F4T

Not again!

'The real question is when does one plan to buy but to ask that is a little crass'
The question is not crass at all. I don't understand why you say that? It's simple, you buy when you can see a five way move in the opposite direction in a shorter time-frame from that which you are trading..........

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Some people, especially technicians, don't like to talk about money (I am one) and some dislike making a call in case they get it wrong (btw making calls is what I enjoy as it focuses and puts pressure onto me get the call right). If we are to learn from each other we need to understand how others apply their trading systems to make money, so that we can understand and consider it as a potential option / improvement to our own plans. i.e. when they buy or sell.

Now, my call for a turn was 173/4 and 162 before that. Of those two I got one spot on and the other wrong (how wrong only time will tell, but right now it is not too wrong )

If it is not crass then why don't you make a call? Giving several numbers doesn't help anyone understand your thoughts.

Sorry diver993, I am really not trying to be pedantic (though often my posting tone seems that way). I just like to know others thoughts on trend change as that is what makes the money. You say that buying at 200+ is safe and will pay off, but you also say that 68 is on your radar. It just doesn't make sense or is fence sitting. If you bought at 200+ and the sp hits 68 then in my world you are in deep doodoo . You need to choose whether it is going up to 200 or down to 68 within a reasonable timeframe and place your bet accordingly.

I understand your comparison to support levels, but there are support levels in every stock all the way down to when the stock was first listed. It is the level of trend change that is important.

I have a general knowledge of EWT and waves in general, but find it too subjective and certainly too complicated. It is one of the few remaining techniques (I think) that looks at supposedly inherent characteristics of markets as opposed to triggers for participants to act upon and follow as a herd. Fibs IMO have some qualities of both.

I am rambling now so let's call an end to the discussion. FWIW I am confident that we are pretty close to a trend change, I am just not sure now whether that will occur after the whipsawing when the CC is decided. IMO there is value in GKP at 174 even if the company is told to give 30% to Excalibur (I use 250 as a re-risked value for 100% of the company based on the various broker valuations).

Anyway, time to close........
F4T