GV

[gharknes]

We are buying this stock for both the 3SOF and 3SOV portfolio.  Therefore, we will trade the positions in a different manner.  The 3SOF method will be a much stricter technical method.  The 3SOV method will try to maintain a position until true value is attained through looser stops.
quote from the original analysis

you loved the 10year chart so much in your analysis that it sounded like you were willing to hold until the full value of this issue was realized. i just think the portfolios are not very well clarified . forgive me for querying this but this is a paid service and everything should be open and clarified so as not to confuse the issue.
thanks again,
maxi

Hey Maxi,

Yes I would have liked to trade the portfolio positions differently and I definately had a plan on that.  In fact I remember talking about it with Ramsburg the day before GV decided to do a death spiral. 

The plan was to sell GV(full at 3SOF and potentially partial on 3SOV) on a rally after crossing 3 and continue to watch to hold on 3SOV with a generous stop.  In a bull market this plan perhaps was feasible(definately greedy).. at a market top we get a death spiral that takes out our generous stop(personally I did not think it could get hit so fast) and even dropped below our buy point today!

With a hot new technology stock I would be eager to get back in at these levels.  Still GV may turn out to be at a bottom here and the team will watch and see if it comes back in play.

So to clarify.. yes we really wanted to hold this stock for longer but since GV exploded and then imploded it does not make this type of trading doable and as traders we must adapt... and learn to take profits earlier. 

you have just described my own trading plan on GV and as I have already mentioned probably greedy on my part..........I guess the only difference was that I bought more on the dip and like 3sof I didn't put in a stop loss for protection, I am willing to continue holding GV as I think it has upside potential from here, I can't see anything else right now that offers a more attractive prospect as the general market stability makes me nervous.............I cannot trade OB stocks.

EG........please keep an eye on GV and post the odd update if you can

[la-onda]

Goldfield Holds Annual Meeting of Stockholders - Stock Repurchase Plan Extended
Tuesday May 30, 3:58 pm ET

MELBOURNE, Fla., May 30 /PRNewswire-FirstCall/ -- The Goldfield Corporation (Amex: GV - News), a leading provider of electrical construction and maintenance services in the southeastern United States, held its annual meeting of stockholders in Melbourne last Thursday, May 25, 2006. Stockholders re-elected all seven directors to the company's Board of Directors and ratified the appointment of KPMG LLP as Goldfield's independent registered public accounting firm for the current fiscal year. In his remarks at the meeting, John H. Sottile, the company's Chairman of the Board, President and Chief Executive Officer, commented on Goldfield's favorable operating results for 2005 and the first quarter of 2006, noting that demand for Goldfield's electrical services is the strongest since the company entered the electrical construction business, and that Goldfield's growth was driven by strong results from both the electrical construction and real estate businesses.

The company also announced that its Board of Directors approved an extension of Goldfield's stock repurchase plan until September 30, 2007. As of March 31, 2006, the company has repurchased 2,224,222 shares pursuant to the plan, at an average cost of $0.52 per share, and is authorized to purchase an additional 1,275,778 pursuant to the plan. Goldfield, as of April 13, 2006, had 25,572,192 shares outstanding. Mr. Sottile stated that the Board approved the extension of the repurchase program in light of the company's strong capital position.

[Stocky2000]

gv bounces back ! in the first time 1.68 

[Stocky2000]

this could be the start to more upside moving

[Stocky2000]

Goldfield Holds Annual Meeting of Stockholders - Stock Repurchase Plan Extended
Tuesday May 30, 3:58 pm ET (good news!!)


MELBOURNE, Fla., May 30 /PRNewswire-FirstCall/ -- The Goldfield Corporation (Amex: GV - News), a leading provider of electrical construction and maintenance services in the southeastern United States, held its annual meeting of stockholders in Melbourne last Thursday, May 25, 2006. Stockholders re-elected all seven directors to the company's Board of Directors and ratified the appointment of KPMG LLP as Goldfield's independent registered public accounting firm for the current fiscal year. In his remarks at the meeting, John H. Sottile, the company's Chairman of the Board, President and Chief Executive Officer, commented on Goldfield's favorable operating results for 2005 and the first quarter of 2006, noting that demand for Goldfield's electrical services is the strongest since the company entered the electrical construction business, and that Goldfield's growth was driven by strong results from both the electrical construction and real estate businesses.


The company also announced that its Board of Directors approved an extension of Goldfield's stock repurchase plan until September 30, 2007. As of March 31, 2006, the company has repurchased 2,224,222 shares pursuant to the plan, at an average cost of $0.52 per share, and is authorized to purchase an additional 1,275,778 pursuant to the plan. Goldfield, as of April 13, 2006, had 25,572,192 shares outstanding. Mr. Sottile stated that the Board approved the extension of the repurchase program in light of the company's strong capital position.

[Stocky2000]

very nice day....yes we kept the gains..

[snowcat]

HURRICANE SEASON IS HERE!!

They maintain and install electrical transmission lines for electric utilities in the SE US!

The company is profitable, the float is big, but liquid.  The stock price doubled last hurricane season.  This is a value company at a low price.  1st Q rev rose 70%.

Where are you going to find that for under 2 bux?

[Melf Elf]

The Target: 1.36 IN PLAY from the Descending Triangle breakdown and the possibility of a Parabolic Return (also 1.36) are two other reasons that I passed on the trade. 

The DOUBLE target of 1.36 MADE in the final hour today.

Mean, mean market.   

[Lucas Scott]

Nice call Melf. Now do we get an upside target from this point? Like $2?

I wonder if part of GV's drop, in addition to general market weakness, could be attributed to the shenanigans at HOM. Both companies are in the hurricane recovery sector. The businesses are different, but in the same sector, so maybe investors feel that if HOM has been cooking the books than maybe GV has been too.

[Melf Elf]

Now do we get an upside target from this point? Like $2?

Luke,

Unfortunately, no, $0.95 is IN PLAY.

GV appeared to have put in a double bottom at 1.41, with the middle of the "W" at 1.87.  If it could have taken out 1.87 to the upside, that would have put 2.33 IN PLAY.

Math:

1.87 - 1.41 = 0.46 Points

1.87 + 0.46 = Target: 2.33 IN PLAY

Instead, GV took out the double bottom at 1.41 yesterday afternoon, so we have to SUBTRACT the 0.46 points from 1.41, so $0.95 is IN PLAY as long as GV trades below 1.41.  If GV trades above 1.41, the downside target goes ON HOLD.

Technically, the long-term 144/233 RSIs were at Bearish Synchronicity at the June 12 close.  That resulted in a refusal on yesterday's break of 1.41 support, and those measures of relative strength now are in a bearish inversion (the 144 is below the 233).  That doesn't look good.  I'll show you that chart next.

[Melf Elf]

144/233 RSIs

[bocasva]

I bought it yesterday in the last hour at 1.34 but after seeing the low volume in the first 15 minutes and Melf Elf's TA input sold it at 1.40.  I will look to take position if volumes picks up and it's set to close above 1.41..............Thanks Melf Elf.

[jorgegr]

Melf:

I want to thank you and applaud you for permanently staying with the over 6800 subscribers
giving your advice and analysis in this bloody market and showing up when really neaded.

jorgegr

[usedcasting]

I second that jorgegr. Thanks Melf (appl)

uc.

[Melf Elf]

bocasva, jorgegr and usedcasting,

Thanks very much for the feedback and for the kind words.  I know that my posts generally are long and tedious to read, so I'm glad to know if they help anyone in their decision-making process.  That makes it well worth the time spent.

I bought it yesterday in the last hour at 1.34 but after seeing the low volume in the first 15 minutes and Melf Elf's TA input sold it at 1.40. I will look to take position if volumes picks up and it's set to close above 1.41..............Thanks Melf Elf.

I think that was a good play, bocasva.  Naturally, GV can do whatever it wants to do, but you might remember when it had a little upside breakout on the intraday chart a few weeks ago, at about 1.68.

At that time, in addition to the DOUBLE Target of 1.36 IN PLAY, I posted to maxi (rickjust) that another reason that I wouldn't take the trade was that there was immediate resistance overhead, beginning at 1.71, which was only three cents above the breakout.

So, in other words, GV broke out at 1.68, but immediately had to start banging its head against that wall of resistance (sellers), so to speak, beginning at 1.71.

GV got to 1.79 on that rally, I think, then it fell all the way back to 1.41.  UGH...

Same thing here with immediate resistance, on the break below 1.41.  The white horizontal lines define the recent trading range, 1.41-1.87.  Think of all of those candlesticks as people who are playing for the Bear team.  Each of them is a potential seller because the double bottom at 1.41 didn't hold, and many of them would like to get out of their postion with a break even/slight gain.

Think of all of the candles below 1.41 as people who are playing for the bulls.  There aren't many, and they've bought a break of support.  Many of them will be weak-handed longs, and will want to sell if GV doesn't move higher fairly quickly, or worse, will want to sell if GV tanks some more.

The Bulls here are badly outnumbered by the Bears, who sit above 1.41.  Not all of them will sell, of course, but a large number of them would like out.

Yes, GV can "ram its way higher," so to speak, into all of that resistance, but I wouldn't expect rallies to hold for very long.  Let's say GV rallies to 1.55 from here, a number that we saw a lot.  I would expect quite a few players to say, "THANK YOU!" and sell.

Just a suggestion, but I wait awhile on GV, let some of that overhead supply get worked off, and wait for a pattern to emerge, like the "possible" double-bottom at 1.41 that just broke to the downside.

That's why yesteday's break of 1.41 was such a shame.  GV had spent 3 weeks building that potentially bullish pattern, but it resoloved bearishly, to the downside.

Good luck with whatever you decide.