Guest Posted November 20, 2004 Report Share Posted November 20, 2004 It will probably make a run for the old swing high @ 160 (where I'll book some profits). Link to comment Share on other sites More sharing options...
FeedFool Posted November 20, 2004 Report Share Posted November 20, 2004 I am from UK but it's not where I was born. I like Rio but its charts looks like ERTS u will understand its real bullish kind of like moon shot Drop may come to complete wave 4 before wave 5 begins. here it is. Link to comment Share on other sites More sharing options...
Crouching Tiger Posted November 20, 2004 Report Share Posted November 20, 2004 Time for abc's Gold Projection: $416 - $444 Expansion $471-480-489 d = $488 - if I'm doing it right - not sure because of waves Retracement: 411 - 402 - 394 Link to comment Share on other sites More sharing options...
Guest Posted November 20, 2004 Report Share Posted November 20, 2004 FeedFool, I can picture Rio breaking out BIG time soon. It's been consolidating for four and a half years. RIO.L or RTP for anyone who's buying on the NYSE. If you're looking for something really speculative check out FTO.L (Fortune Oil) I'm long @ 6.7 pence Link to comment Share on other sites More sharing options...
FeedFool Posted November 20, 2004 Report Share Posted November 20, 2004 Max I have steak in most of the Oil outfit including FTO Check out GTL FeedFool, I can picture Rio breaking out BIG time soon. It's been consolidating for four and a half years. RIO.L or RTP for anyone who's buying on the NYSE. If you're looking for something really speculative check out FTO.L (Fortune Oil) I'm long @ 6.7 pence <{POST_SNAPBACK}> Link to comment Share on other sites More sharing options...
Guest Posted November 21, 2004 Report Share Posted November 21, 2004 Don't like the chart of GTL. Sure, it can't go much lower but if you buy now it might be dead money for a long time. What I'd do is wait for the volume to dry up and then for GTL to run up on volume taking out a small swing point and then buy a pullback on light volume. It needs to prove it wants to go up before I'd buy it. But no matter how good it looks I wouldn't buy it when the spread is 25%. Perhaps the spread is smaller during trading hours but this is one of the great disadvantages of penny stocks. In the case of GTL the stock has to gain 25% before you can even break even and that's not counting the commission. Max I have steak in most of the Oil outfit including FTO Check out GTL FeedFool, I can picture Rio breaking out BIG time soon. It's been consolidating for four and a half years. RIO.L or RTP for anyone who's buying on the NYSE. If you're looking for something really speculative check out FTO.L (Fortune Oil) I'm long @ 6.7 pence <{POST_SNAPBACK}> <{POST_SNAPBACK}> Link to comment Share on other sites More sharing options...
Guest Posted November 21, 2004 Report Share Posted November 21, 2004 When I bought FTO.L (the only penny stock I own) the spread was only .25 pence (3.7%). Bid 6.50 Ask 6.75 Also, I was pretty impressed by Fortune Oil's last earnings report: 28/09/04 09:05 AFXF LONDON (AFX) - Fortune Oil PLC six months to June 30 2004 Sales - 58.54 mln stg vs 45.82 mln Pretax profit - 3.13 mln stg vs 2.44 mln EPS - 0.08 pence vs 0.04 LONDON (AFX) - Fortune Oil PLC, which invests in oil and gas infrastructure projects and oil trading activities in China, said its interim pretax profit jumped 29 pct as all group operations achieved profitability. Pretax profit in the six months to end June 2004 surged to 3.1 mln stg, or 0.08 pence a share, from 2.4 mln stg, or 0.04 pence a share, in the year-earlier period. "This has been one of the most successful trading periods in Fortune Oil's history," said executive vice chairman Bruce McGowan. There was increased profitability in almost all the group's operations, including a return to profit by its Zhanjiang Fu Duo LPG joint venture. "We are benefiting from the rapid development of the Chinese economy and the consequent growth in demand for energy," said McGowan. First-half sales jumped 28 pct to 58.5 mln stg despite a 14 pct decline in the US dollar against the pound during the year. Volume throughputs increased for most of its operations, reflecting the increasing demand for oil and gas in China. "We will continue to focus on developing our natural gas business but we also expect other opportunities to arise in the oil sector as China's markets gradually open up," said McGowan. In early 2004, the company accepted an offer to sell its 24.5 pct interest in Bluesky to China Aviation Oil (Singapore) Corp Ltd (CAO). While the approval process has taken longer than expected, the company said it is satisfied that it has sufficient available funding, or access to funding, for its planned and new investment programme. [email protected] jc Link to comment Share on other sites More sharing options...
Guest Posted November 21, 2004 Report Share Posted November 21, 2004 RIO.L or RTP for anyone who's buying on the NYSE. <{POST_SNAPBACK}> The price is set in London. Link to comment Share on other sites More sharing options...
Guest Posted November 21, 2004 Report Share Posted November 21, 2004 RIO.L or RTP for anyone who's buying on the NYSE. <{POST_SNAPBACK}> Then you have to take the exchange rate into consideration. See the move in USD terms as the Dollar lost value in relation to Pound Sterling. Link to comment Share on other sites More sharing options...
Guest Posted November 21, 2004 Report Share Posted November 21, 2004 GBP/USD Link to comment Share on other sites More sharing options...
Guest Posted November 22, 2004 Report Share Posted November 22, 2004 This is a great inteview for anyone interested in the history of great traders! Trade like Jesse Livermore I'm getting the book! Link to comment Share on other sites More sharing options...
Guest Posted November 22, 2004 Report Share Posted November 22, 2004 More good stuff !! Some great quotes in the 2nd part of the report Link to comment Share on other sites More sharing options...
Guest Posted November 22, 2004 Report Share Posted November 22, 2004 AB, i remember when you used to post your fundamental analysis of companies, it was quite impressive, the extant of your research. do what you feel. you are not responsible for what others think. dharma Link to comment Share on other sites More sharing options...
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