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aktopgun (m)
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@Aktopgun and others, greetings to u all I have largely been a silent reader but i post sometimes. Congrats to u AKT u are becoming a guru in chart analysis! What u did on mbenefits(to further analyse was a perfect "pan in the handle" formation. We are at the point of the handle which may last from two weeks to one month which is always noticeable with a volume dryout as indicated in your chart. My opinion is that this is the best time to buy mbenefit(in the handle area) for medium term investors or u may wait for a volume spike to confirm entry point. In addition to other tech parameters, u should also use the cup in the handle or pan in the handle formations. It works very well on the nse e.g utc cup formation(jan 2007- N1.22-N4.00), first alum etc. But always go with the trend i.e entrying with the upcoming bull cycle!!! Kudos to u all , i ve enjoyed all your posts and am really humbled  me guru ke! na learn man dey learn jare. but thanks for the compliments. i have to say easimoni, roughcut and pumice put me up to this TA route and they are the ones i need to thank as well. they will know why sooner than they realise. (talking in cryptic code) on the pattern for mbenefit, i actually see it as a cup in handle formation cuz the trough is a bit too deep to be a pan. it looks like a Tea cup with a handle doesnt it. what do u think man? |
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aktopgun (m)
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@andico
now, firstalum is a more classic frying pan pattern i think. see here and pls tell me what u think
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beginner
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Hello everyone
I was just wandering if anyone from Nairaland attended the proshare investment seminar at Sheraton. From their website I get a feeling it must have been very valuable. Can someone please share the gist. Ta
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NBA (m)
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RELTEL PRIVATE PLACEMENT is coming out soon keep your money down ,spoke to their manager Tony Okonkwo this morning my good friend and family member.
Hi EKWA, Thanks for the heads up. Please keep us posted. |
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pumice (m)
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@ aktopgun and andico34 I saw the interesting ongoing discussion on Mbenefit and I wanted to add my =N=2  . From a chart perspective and a medium term point of view which I believe is 6 to12 months, I would wait to see the direction of the stock of most insurance stocks within the next 1 to 2 months. I agree with someone who posted earlier that the insurance sector is a minefield. I believe you would have to able a good CICOer and/or candle analyzer not to get burned now, not to mention have an agbero broker. To me trying to time the bottom of the correction that price is undergoing now after the period of accelarated growth is very risky especially if you are a medium to long termer. I would rather wait for price to consolidate and when interest dies then look for some indication to enter. There is a chart pattern I once read about but I can't remember the name and Mbenefit and a couple of other insurance stocks shows the typical model. The red trendline showing a nice rise in price and then followed by a very steep rise in price with another trendline shown in blue. When the blue trendline got broken by price it was the 1st signal to get out. Price hesisted at the red where there usually is a rally but this too got broken. I would expect now, if not a continuing decline in price, then some kind of consolidation so I'd give the stock some time to breathe and observe. This is just to make sure I enter at the best possible price region. Anyway this is my own take. PS. aktopgun, easimoni, roughcut and all, if you remember this chart pattern I would like to know the name. The site I use for technical analysis, Decision point ( www.decisionpoint.com/tacourse/tacoursemenu.html), only talks about accelerated growth and I can't find the name of this chart pattern anywhere. Cheers and Happy Easter. |
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aktopgun (m)
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pumice, pumice, pumice, or should i say winch, winch, winch!!! i agree 110% with your analysis and as eniyanman has said too, looking to time bottoms can be dangerous and an exercise in futility. the candles are ther best tool i have found so far that gets anywhere close. on the name of the pattern u are looking for, here u go on the same Mbenefit- BUMP RUN REVERSAL TOP |
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ijogbon (m)
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@ aktopgun and andico34 I saw the interesting ongoing discussion on Mbenefit and I wanted to add my =N=2 . From a chart perspective and a medium term point of view which I believe is 6 to12 months, I would wait to see the direction of the stock of most insurance stocks within the next 1 to 2 months. I agree with someone who posted earlier that the insurance sector is a minefield. I believe you would have to able a good CICOer and/or candle analyzer not to get burned now, not to mention have an agbero broker. To me trying to time the bottom of the correction that price is undergoing now after the period of accelarated growth is very risky especially if you are a medium to long termer. I would rather wait for price to consolidate and when interest dies then look for some indication to enter. There is a chart pattern I once read about but I can't remember the name and Mbenefit and a couple of other insurance stocks shows the typical model. The red trendline showing a nice rise in price and then followed by a very steep rise in price with another trendline shown in blue. When the blue trendline got broken by price it was the 1st signal to get out. Price hesisted at the red where there usually is a rally but this too got broken. I would expect now, if not a continuing decline in price, then some kind of consolidation so I'd give the stock some time to breathe and observe. This is just to make sure I enter at the best possible price region. Anyway this is my own take. PS. aktopgun, easimoni, roughcut and all, if you remember this chart pattern I would like to know the name. The site I use for technical analysis, Decision point ( www.decisionpoint.com/tacourse/tacoursemenu.html), only talks about accelerated growth and I can't find the name of this chart pattern anywhere. Cheers and Happy Easter. @pumice I think what you are describing would be near to a bump and run reversal. Although I believe you need a tested resistance for the pattern to be complete. I could be wrong though. |
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aktopgun (m)
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@pumice
I think what you are describing would be near to a bump and run reversal. Although I believe you need a tested resistance for the pattern to be complete. I could be wrong though.
@ijogbon bros u sef dey? cool!! e be like say u and i see am the same way (see what i posted above) |
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ijogbon (m)
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@aktopgun
Impressive.
Infact I posted about 2 seconds after you ,,,,,,,I should have waited,,,,and received the added insight you provide with the pictures. I believe it was Quintus Horacius Flaccus who said in 65-8 BC that 'A picture is a poem without words' ,,,,,,,, you Sir, bring that saying to profound prominence.
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aktopgun (m)
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@aktopgun
Impressive.
Infact I posted about 2 seconds after you ,,,,,,,I should have waited,,,,and received the added insight you provide with the pictures. I believe it was Quintus Horacius Flaccus who said in 65-8 BC that 'A picture is a poem without words' ,,,,,,,, you Sir, bring that saying to profound prominence.
. For u man (and pls stop with the "Sir" thing. ) Horace (65-8BC) [Quintus Horacius Flaccus] Latin Poet, Satirist Quintus Horatius Flaccus, was born on November 27, 8 BC. The renowned Roman Satirist and Lyrist was known in the English world as Horace. His father was a manumitted slave, however, he saved enough to see to Horace's education. His lyrical writings ('satires and lampoons') were to eventually come to the attention of Virgil and, in turn, to one of the ministers of Octavianus. With the recognition of those on high and gifts bestowed (one of which was a farm in the Sabinian Hills above Rome), Horace was able to lead a life of leisure and luxury; and, eventually, was to acquire the position of the poet laureate. His poetry supplies more phrases which have become proverbial than the rest of Latin literature put together. A picture is a poem without words. Adversity reveals genius, prosperity conceals it. A word once uttered can never be recalled. Adversity reveals genius, prosperity conceals it. All seasons are beautiful for the person who carries happiness within. Art is long, life is short. [Ars longa, vita brevis.] Either follow tradition or invent what is self-consistent. He has half the deed done who has made a beginning. It is when I am struggling to be brief that I become unintelligible. Knowledge without education is but armed injustice. Pale Death with impartial tread beats at the poor man's cottage door and at the palaces of kings. Remember, when life's path is steep, to keep your mind even. Seize the day, leave as little as possible to tomorrow. [Carpe diem, quam minimum credula postero.] Wisdom is not wisdom when it is derived from books alone. Youth is unduly busy with pampering the outer person. |
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ijogbon (m)
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@aktopgun It is always a delight to receive knowledge. Tanxz |
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loma (m)
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Spem longam reseces. Dum loquimur,
fugerit invida
Aetas: carpe diem, quam minimum
credula postero.
Oro agba!
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aktopgun (m)
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@ijogbon
pls share some of urs as well. i know we have a wealth of it on here and i am glad u've come out of the silent zone to join in the party.
keep it coming man.
case in point, pls take a lok at mobil and tell me what u think.
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aktopgun (m)
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Spem longam reseces. Dum loquimur,
fugerit invida
Aetas: carpe diem, quam minimum
credula postero.
Oro agba!
LOMA!!! as my latin isnt what it used to be (it never was ), could u tell me the meaning of this in english? pls. pretty pls |
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pumice (m)
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@ aktopgun and ijogbon Thanks guys. Bump and Run Reversal; that was the name I was looking for. As always aktopgun, your posts are interesting to read. Thanks for pointing out the positive divergence on Mbenfit, again I didn't notice it. So I guess short-term CICOers should be wearing their shoes right now. Like you say it's better to see supporting candle formations before jumping in. P.S. Aktopgun, you don turn guru finish o! Nothing remain again. Cheers. |
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ijogbon (m)
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@loma Some people might mistake your quote as a rally to the abandonement of value (read - longterm) investing and an endorsement of 'CICOes'? I no dey O! And concerning your remark about not wanting to meet me in the night,,,,well ,,,where I am right now ,,,,it is night,,,,what do you think now about meetin me in the dark? a whole ' ina'n jo ogiri o'sa' like you. |
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loma (m)
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@AK
spem longam reseces -- prune back your desires to a smaller space.
Dum loquimur-Even while we speak,
fugerit invida
Aetas:envious time has passed:
carpe diem, quam minimum credula postero:pluck the day, putting as little trust as possible in tomorrow!
Thats the brief translation give to us by our Latin teacher in those days spent with Pope Dreyfus at the Vatican , as Samstone is wont to say,
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aktopgun (m)
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@loma Some people might mistake your quote as a rally to the abandonement of value (read - longterm) investing and an endorement of 'CICOes'? I no dey O! And concerning your remark about not wanting to meet me in the night,,,,well ,,,where I am right now ,,,,it is night,,,,what do you think now about meetin me in the dark? a whole ' ina'n jo ogiri o'sa' like you. ijogbon( fear dey catch me as i dey type that name, u know wetin e mean!! ) abeg interpret that latin wey ioma type for me jare |
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loma (m)
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@ijogbon; your name reminds me of all the beating i used to chop when i still dey act like that your name for naija! @all ; If you take the quote abandon long-term investing, I go give you Horace grave address make you go complain!! @aktopgun; Look at the 3rd to the last of your quotes, my quote is a fuller version of that! |
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ijogbon (m)
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@aktopgun
It is funny to note that I had my eye on Mobil for reasons other than T.A but the Bump and run reversal pattern is indeed evident with the approach starting in mid-february (with the green marubozu bouncing off the 180 support) the bump with the bullish engulfing pattern over the gravestone doji and the run around the shooting star early March.
It is interesting also to take the supporting volume movements at the respective points into cognisance.
However, thank you for pointing it out to me. I think I see the opportunity I have been waiting on (with the run coming near to the bottom of the priceband although the support is at 180, RSI trending in the oversold region and selling volumes becoming scarce).
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aktopgun (m)
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@ijogbon
i am feeling your analysis gaan. i just thot i'd point it out cuz of the similarities
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samstone4 (m)
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@ Ioma, AKT, Nairalanders Good to see all the fillers away from the NSE day jobs. Since Ioma has invoked my spirit will add: "Grandescunt aucta Labore" - like we used to say in the ole days in midtown Montreal and some of the silent readers with Canadian connection may know. Chill during Easter and don't forget the message of Easter - for the Christians. Samstone4  |
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LondonCool (m)
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I was looking for the "Bump and Run Reversal" stuff on my book shelf and found lots of info about it in a book I just bought which came out 2 weeks ago.Its titled "Encyclopedia of Candlestick Charts " by Thomas N. Bulkowski
I also would like to share other books I own which I found to be very critical to my understanding about investing in the stock market (both in the FTSE/NSE).
Fire Your Stock Analyst. by Harry Domash (I was introduced to this book by my friend the CEO of Proshare-compulsive reading)
The Alchemy of Finance: Reading the Mind of the Market by George Soros (this is like a pyschoanlaysis of how the market behaves,the character of investors and the influence of fear and greed as motivating factors)
How I Made $2,000,000 In The Stock Market by Nicolas Darvas
(Here Darvas (who was a dancer) experience in stock trading goes through 4 stages-as a gambler, then as a fundamentalist, then as a technical analyst-developing his own “Box theory” then as Techno-fundamentalist.He made his money in stocks while he was on a 2 year tour around the world.He was sending coded telegrams to his Broker and prompted suspicion of espionage)
Trading for a Living by Alexander Elder-(Interesting story how he left his job to start day-trading)
One Up On Wall Street : How To Use What You Already Know To Make Money In The Market by Peter Lynch (Was forced to buy this book when I joined TICN; I had to learn how to trade in Options)
How to Make Money in Stocks: A Winning System in Good Times or Bad by William J. O'Neil (and any other book by the author)
"Financial Times" Guide to Using the Financial Pages by Romesh Vaitilingam (was asked to read the book by my ex-line manager -I also I heard my pastor mention the book when he accused Black folks of skipping over the financial columns in UK newspapers)
The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy by Robert G. Hagstrom ( this is my main "bible" for fundamental analysis. It puts everything I ever learned into perspective.
The Great Investment: Balancing. Faith, Family and Finance to Build a Rich Spiritual Life by T. D. Jakes ( The book taught me about how to balance my quest to make millions on the NSE/FTSE with my purpose in life. It also provided a platform for what I call "Inspirational analysis"-picking stock based on inspiration (don't try this at home)
You can share your own stock books too
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aktopgun (m)
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I was looking for the "Bump and Run Reversal" stuff on my book shelf and found lots of info about it in a book I just bought which came out 2 weeks ago.Its titled "Encyclopedia of Candlestick Charts " by Thomas N. Bulkowski
I also would like to share other books I own which I found to be very critical to my understanding about investing in the stock market (both in the FTSE/NSE).
Fire Your Stock Analyst. by Harry Domash (I was introduced to this book by my friend the CEO of Proshare-compulsive reading)
The Alchemy of Finance: Reading the Mind of the Market by George Soros (this is like a pyschoanlaysis of how the market behaves,the character of investors and the influence of fear and greed as motivating factors)
How I Made $2,000,000 In The Stock Market by Nicolas Darvas
(Here Darvas (who was a dancer) experience in stock trading goes through 4 stages-as a gambler, then as a fundamentalist, then as a technical analyst-developing his own “Box theory” then as Techno-fundamentalist.He made his money in stocks while he was on a 2 year tour around the world.He was sending coded telegrams to his Broker and prompted suspicion of espionage)
Trading for a Living by Alexander Elder-(Interesting story how he left his job to start day-trading)
One Up On Wall Street : How To Use What You Already Know To Make Money In The Market by Peter Lynch (Was forced to buy this book when I joined TICN; I had to learn how to trade in Options)
How to Make Money in Stocks: A Winning System in Good Times or Bad by William J. O'Neil (and any other book by the author)
"Financial Times" Guide to Using the Financial Pages by Romesh Vaitilingam (was asked to read the book by my ex-line manager -I also I heard my pastor mention the book when he accused Black folks of skipping over the financial columns in UK newspapers)
The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy by Robert G. Hagstrom ( this is my main "bible" for fundamental analysis. It puts everything I ever learned into perspective.
The Great Investment: Balancing. Faith, Family and Finance to Build a Rich Spiritual Life by T. D. Jakes ( The book taught me about how to balance my quest to make millions on the NSE/FTSE with my purpose in life. It also provided a platform for what I call "Inspirational analysis"-picking stock based on inspiration (don't try this at home)
You can share your own stock books too
bros londoncool serious books u have in your library. i have one up on wall street by peter lynch and i have one called candlestick charting explained by greg morris(nice ot see u have gotten enough inr=terest in candlestick charting to buy a book on it). i read on the internet a lot as well as much as i can and get varied ideas and explanations. planning on deepening my knowledge with one last acquisition in the summer- john murphy's book |
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invisible! (m)
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I was looking for the "Bump and Run Reversal" stuff on my book shelf and found lots of info about it in a book I just bought which came out 2 weeks ago.Its titled "Encyclopedia of Candlestick Charts " by Thomas N. Bulkowski
I also would like to share other books I own which I found to be very critical to my understanding about investing in the stock market (both in the FTSE/NSE).
Fire Your Stock Analyst. by Harry Domash (I was introduced to this book by my friend the CEO of Proshare-compulsive reading)
The Alchemy of Finance: Reading the Mind of the Market by George Soros (this is like a pyschoanlaysis of how the market behaves,the character of investors and the influence of fear and greed as motivating factors)
How I Made $2,000,000 In The Stock Market by Nicolas Darvas
(Here Darvas (who was a dancer) experience in stock trading goes through 4 stages-as a gambler, then as a fundamentalist, then as a technical analyst-developing his own “Box theory” then as Techno-fundamentalist.He made his money in stocks while he was on a 2 year tour around the world.He was sending coded telegrams to his Broker and prompted suspicion of espionage)
Trading for a Living by Alexander Elder-(Interesting story how he left his job to start day-trading)
One Up On Wall Street : How To Use What You Already Know To Make Money In The Market by Peter Lynch (Was forced to buy this book when I joined TICN; I had to learn how to trade in Options)
How to Make Money in Stocks: A Winning System in Good Times or Bad by William J. O'Neil (and any other book by the author)
"Financial Times" Guide to Using the Financial Pages by Romesh Vaitilingam (was asked to read the book by my ex-line manager -I also I heard my pastor mention the book when he accused Black folks of skipping over the financial columns in UK newspapers)
The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy by Robert G. Hagstrom ( this is my main "bible" for fundamental analysis. It puts everything I ever learned into perspective.
The Great Investment: Balancing. Faith, Family and Finance to Build a Rich Spiritual Life by T. D. Jakes ( The book taught me about how to balance my quest to make millions on the NSE/FTSE with my purpose in life. It also provided a platform for what I call "Inspirational analysis"-picking stock based on inspiration (don't try this at home)
You can share your own stock books too
currently I am reading 'How to make money' in stocks by William J. O,Neil. I had read before; 'Buffetology' by Mary J. Buffet. Buffet; the making of an Americal capitalist. 'Five Rituals Of Wealth' (forgotten the author) 'Fire Your Share Analyst (from the Moneywise group) 'Guide To Investing' by Robert Kiyosaki 'Retire Young, Retire Rich', 'Rich Dad, Poor Dad, 'Cashflow Quadrant', all from Robert Kiyosaki. Still searching for more to buy, only that they are simply not available around where I live. |
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aktopgun (m)
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@invisible una dey read gaan o! knowledge is power abi cool! |
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invisible! (m)
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@topgun, there is this worrying thing the book am reading now is telling me, it says to sell a stock immediately you discover it was a mistake buying it. also says that you should stick to a -8% sell off rule  after you buy, not to watch your money 'evaporate' Ha, I hate losing money o, to tell me to sell and take a loss go hard o. how you see am? |
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invisible! (m)
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William O'Neil is also against averaging down a bad buy, he supports averaging up a rising stock instead.
He says it like throwing good money after bad.
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Princesege (m)
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@LondonCol,
Thank you for sharing. Which of the bookstores do you suggest I should go in London?
I will make a serach and buy them anyway.
Many thanks.
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invisible! (m)
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@topgun,
Do you know anything about tourist company nig. Is it true that it is partly owned by Ikeja hotels.
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samstone4 (m)
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@ Invisible Tourist company of Nigeria is a company controlled by the Ibrus, as is Ikeja Hotels. It owns Federal Palace Hotel in Victoria Island. The results have not been as good as Ikeja Hotels but not sure about the shares performance as have not been following it. Samstone4 |
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