TGB - Sector: Basic Materials---Industry: Copper

[bocasva]

Nice white candle today; although, volume was around average....

[Melf Elf]

Nice white candle today; although, volume was around average....

bocasva,

They didn't let me in at my price, but that's good for you guys! 

This neckline is a little awkward, with the upward slope, and with Wedneday's close back below it, which is why I thought that I'd get a chance at it, in the mid-2.40s.

But,TGB is back above the neckline, and its headed in the right direction, so hopefully, it will continue higher for you, at least to that 2.89-2.90 resistance.

Good luck to all of you!

[Melf Elf]

They didn't let me in at my price, but that's good for you guys! 

This neckline is a little awkward, with the upward slope, and with Wedneday's close back below it, I thought that I'd get a chance at it, in the mid-2.40s.

I had a chance yesterday to buy TGB at the price that I wanted last week, but I passed on the trade because it "shouldn't be" back to this level.

TGB is back above the neckline, and its headed in the right direction, so hopefully, it will continue higher for you, at least to that 2.89-2.90 resistance.

TGB "should have" continued higher from Wednesday's 2.51 low.  Instead:

1. Friday was a Bearish Engulfing Candle.

2. Friday also was a SECOND close back below the breakout.

3. MACD crossed below its signal line yesterday.

This still could be fine, but that's too sloppy for me.  I had to pass.   Good luck, guys!

[Terliso]

I got stop yesterday @ 2.40

Bad trading!!

[Melf Elf]

I got stop yesterday @ 2.40

Bad trading!!

Alister,

Those false breakouts are tough to play.  TGB looked fine when it broke out again on Thursday, but then...

[Terliso]

Ohhhh... I forgot to post my loss here too, ok let's do that

Loss -7.33 plus 9.95 commission

Bought TGB 2.59

I got stop yesterday @ 2.40

Bad trading!!

[ScottishTrader]

Hey Melf, I see you got MODERATED!!!

Good going  Now you ARE the law

[Melf Elf]

Hey Melf, I see you got MODERATED!!!

Good going  Now you ARE the law

Scotsman,

Yeah, now when you don't stick to your Trading Philosophy, I can give you a 24-hour suspension from trading.

Trader BEWARE!!!     

[tokyopua]

Hey Melf, I see you got MODERATED!!!

Good going  Now you ARE the law

Scotsman,

Yeah, now when you don't stick to your Trading Philosophy, I can give you a 24-hour suspension from trading.

Trader BEWARE!!!     

Congrats and Applaud Melf!  As I said in my other post, I am all for whatever improves the site, and you being a Moderator does that. 

Is there any chance of an official 3SOF Melf Portfolio to come? 

[Melf Elf]

Thanks, Tok!

Is there any chance of an official 3SOF Melf Portfolio to come? 

No-oo way-yy, buddy!  I've got time managment problems as it is. 

[ScottishTrader]

oh dear.... I think I may be in trouble....

[David Randolph]

I've been writing about how bull I am on $copper on the Peru Southern Copper (PCU) thread and I need to have at least one more copper play. This is more of a macro play than company specific, although PCU has terrific fundamentals.

I've been expecting $copper to jump back above $320, and it did that yesterday, climbing 2.2% to $324. I expect $copper to make a move towards $450 after seven months of consolidation:



TGB isn't as strong as PCU on the fundamental front, since it just started production in 2005, but revenues are growing in leaps and bounds, and it's profitable. The potential is very high since this is just a $350 M market cap, whereas PCU is a $16.5 B company.

Trading Plan:

Buy TGB today around the open, 6.66% of capital (today can be a breakaway gap, so nevermind the gap)

[Dracull]

Sorry to say this, but should you wait first for the breakout to be confirmed before jumping into this one? 

[David Randolph]

Sorry to say this, but should you wait first for the breakout to be confirmed before jumping into this one? 

Don't be sorry Dracull, I welcome every question or doubt, thank you

I should do that if I were a pure technical trader, but I ain't.

Please read the following quote from Jesse Livermore (Reminiscences of a Stock Operator, page 61):

"I should say that a chart helps those who can read it or rather who can assimilate what they read. The average chart reader, however, is apt to become obsessed with the notion that the dips and peaks and primary and secondary movements are all there is to stock speculation. If he pushes his confidence to its logical limit he is bound to go broke."

I consider there's more to successful stock speculation than drawing lines on a chart. Charts are a useful part of the game, but no one will ever grow rich just studying them. I can elaborate on this, if you want ...

Good luck, though

[Dracull]

Sorry to say this, but should you wait first for the breakout to be confirmed before jumping into this one? 

I consider there's more to successful stock speculation than drawing lines on a chart. Charts are a useful part of the game, but no one will ever grow rich just studying them. I can elaborate on this, if you want ...

Good luck, though

That's the issue...I'm a more thecnical player