Diary Post 19 Dec 2012 - Geo Energy
A short little whine....
I don't owe my clients "trade ideas" and "kang tao". I hate the feeling of having the obligation of the stock to ran up, after I initiate a buy call. I seldom initiate a buy call, but if I do, I supported it with research reports. That's the job of a broker - to maintain your account, tell you facts and if I am close to you, i give you my personal opinions.We are suppose to be non-advisory anyway.
I rather alert someone to watch-out for certain stocks, but don't rely on my "watch-out" as a sign of buying. Charts that I posted here are dead. If they move to what I expected them to, good for you.
Anyway, I was just sharing with YJ to monitor Geo Energy in the morning and Geo energy broke out today towards the end of today's session.
I was sharing how similar this 2 counters were.
Of coz, i showed to my colleagues these charts a few weeks back, before today ran up. I am not saying that it will run up. My thoughts process were, " Are this the behaviour of SM for a new counter? Once the stock has risen much in the first few days and we see a gradual decline, we will always see SM supporting it in the near future. That's when the fun all starts.
Both counters met the criteria of a very puntable stocks : The industries that they are in are highly cyclical, stocks below 50 cents are even better as R:R is high per bid for SM. The book runners that were supporting the IPO.
Charts of IEV and Geo Energy
Anyway, chart looks very familiar to what I have seen before that leads to a breakout. I was highly convinced that it will break soon, but not to that extent of hitting 50 cents.
Getting lazier to type. A picture tells a thousand words.
I don't owe my clients "trade ideas" and "kang tao". I hate the feeling of having the obligation of the stock to ran up, after I initiate a buy call. I seldom initiate a buy call, but if I do, I supported it with research reports. That's the job of a broker - to maintain your account, tell you facts and if I am close to you, i give you my personal opinions.We are suppose to be non-advisory anyway.
I rather alert someone to watch-out for certain stocks, but don't rely on my "watch-out" as a sign of buying. Charts that I posted here are dead. If they move to what I expected them to, good for you.
Anyway, I was just sharing with YJ to monitor Geo Energy in the morning and Geo energy broke out today towards the end of today's session.
I was sharing how similar this 2 counters were.
Of coz, i showed to my colleagues these charts a few weeks back, before today ran up. I am not saying that it will run up. My thoughts process were, " Are this the behaviour of SM for a new counter? Once the stock has risen much in the first few days and we see a gradual decline, we will always see SM supporting it in the near future. That's when the fun all starts.
Both counters met the criteria of a very puntable stocks : The industries that they are in are highly cyclical, stocks below 50 cents are even better as R:R is high per bid for SM. The book runners that were supporting the IPO.
Charts of IEV and Geo Energy
Anyway, chart looks very familiar to what I have seen before that leads to a breakout. I was highly convinced that it will break soon, but not to that extent of hitting 50 cents.
Getting lazier to type. A picture tells a thousand words.
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