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Underexposed - Canadian Stock Journal


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Underexposed - Canadian Stock Journal

  #21 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014


deaddog View Post
TCM: Lots of debt but that money was spent upgrading the mill at the BC Moly Mine and bring the Mt Milligan gold mine into production. I expect rising revenues as they work the bugs out and rising gold price can only help.

As far as the chart goes I see a sell off on volume to a new low then the volume dried up. No more sellers. Since then we have an uptrend with rising bottoms telling me that there is more demand than supply. Volume is drying up but buyers are stepping in with a little higher price each week.

TC - SharpCharts Workbench - StockCharts.com

I donít expect it to move a lot but I think I can move in and out if it trades in a range and pick up a few bucks.

nice chart...are you subscribed to Stockcharts.com?? I just use their free service which is awesome IMHO.

When I look at your chart I see you use 30 and 10 week SMA's....I would like to have seen the 10 week SMA above the 30 week one as a positive sign.

But as I said I think the future will be told in 5-7 business days and I wish you luck on it.

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  #22 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

Base Metal Mining Stock Choice

I have found a decent Base Metal Mining Stock and will place a pretend order for

1500 shares of Lundin Mining Corporation [TSX:LUN} @ $5.34/share

I will discuss this stock in the morning

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  #23 (permalink)
Prince George BC Canada
 
Experience: Advanced
Platform: IBs TWS
Broker: IB
Trading: Stocks
 
deaddog's Avatar
 
Posts: 789 since May 2013
Thanks: 118 given, 1,914 received



Underexposed View Post
nice chart...are you subscribed to Stockcharts.com?? I just use their free service which is awesome IMHO.

When I look at your chart I see you use 30 and 10 week SMA's....I would like to have seen the 10 week SMA above the 30 week one as a positive sign.

But as I said I think the future will be told in 5-7 business days and I wish you luck on it.

Yes I have a subscription. well worth the money for the type of trading I do.

By the time the 10 crosses the 30 I'll have missed the move.

When you talk you are only repeating what you already know. When you listen you might learn something new
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  #24 (permalink)
Prince George BC Canada
 
Experience: Advanced
Platform: IBs TWS
Broker: IB
Trading: Stocks
 
deaddog's Avatar
 
Posts: 789 since May 2013
Thanks: 118 given, 1,914 received


Underexposed View Post
I have found a decent Base Metal Mining Stock and will place a pretend order for

1500 shares of Lundin Mining Corporation [TSX:LUN} @ $5.34/share

I will discuss this stock in the morning

Going to play the breakout?

LUN.TO - SharpCharts Workbench - StockCharts.com

When you talk you are only repeating what you already know. When you listen you might learn something new
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  #25 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

Why I chose Lundin Mining Corporation (TSX:LUN)

This will be my next acquisition for this play portfolio

I wanted to have 2 mining stocks for my $20,000 allocation for the mining sector. I wanted a base metal stock...not a precious metal stock. So I went through a similar procedure as described for B2Gold and I ended up with Lundin Mining Corp [TSX:LUN].

this is an extremely solid Copper, Lead, Zinc, Nickel mining stock. Base metal stocks have not been sterling in the last few years due to bad metal pricing. But this year it seems that there may be a turnaround here



I included the website page where I got the zinc charts. The other charts can be reached from there if you wish to check them out. Kitco.com is the gold standard for metal information IMHO

In all charts there has been decline in prices for these metals over the last 5 years but it seems stabilized and even a slight rise lately to me...at least in my imagination

Lundin Mining recently produced their production levels for these metals for 2013 and in every case the company has met or exceeded their targets.

Stock Market Quotes | Stock Market Quotes and Symbols

from a financial perspective they have very low debt levels, stable operating revenue of almost $800Million/year , cost of revenue is stable and a positive net revenue for the last 5 years....5 years with not so stellar commodity prices.

Stock Market Quotes | Company Financials, Financial Information

So this is a pretty solid base metal mining company



From a TA perspective I really like its P&F chart....there is that "Berlin Wall" of resistance that the share price is approaching now @ $5.43.... IF the share price rises above this 2 year resistance level we are looking at $6.40 as the next (probably weak resistance level. There is huge reward if this happens.

the upper right chart shows a quite bullish chart that might be in a slowdown....the Slo Sto is in excellent position, the MACD has flattened but not turned negative while the BBWidth is still rising (BB's expanding) I think it is just a resting period preparing for the challenge of the resistance.

the lower left chart is sort of a sentiment chart to me....see how the share price tracks the Bullish CMF, the RSI and ADX DI+/- look excellent.

The lower right Ichimoku chart looks great too...that thin blue line has re-emerged above the thin red line and pulling away...the clouds are far below....the on Bal Vol and CCI look great.


Last night I said I would enter an order at the bell for 1500 shares of Lundin Mining Corporation [TSX:LUN} @ $5.34/share

As happened to me in real life with a real broker/order, my competent imaginary broker noticed the stock had opened at $5.30/share and was able to fill my order at $5.31/share

So now I have complete purchasing my Mining Sector stocks....I will look at Oil and Gas as my next sector.

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  #26 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014



I think the resistance will be challenged soon as explained in my last post....I think it is worth the risk and actually made a real purchase today this morning...not just the imaginary one.

this is becoming a fun exercise...giving me discipline by having to explain my reasoning.

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  #27 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

end of first week Feb 14/14

Finished my first week with 2 stocks selected and purchased with the $20,000 of play money I allocated this sector. I have prepared this summary included in the figures is $9.99/trade which is what I pay for my discount broker trades normally.



Working on 2 stocks for O&G industry...have a good weekend!!

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  #28 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

A look at Gold closing price

Here is a chart I looked at today and added some trending.




1. I pointed this out in an earlier post but it bears repeating, this was a resistance line that has held up for about a year. It is history now except perhaps as a support line if the price dips south again.

2. Next came a really narrow channel which lasted about 2 months....then the resistance was broken in mid-last week.

3. Not only did it break that resistance line but it has closed above the 200daySMA...something that also has not happened for over a year.

4. Looking at the indicators below shows I I believe is a substantial breakout in price. The Slow Sto has been looking good since the beginning of the year, MACD is having higher highs during the same time, all the time the BBwidth shows the Bollinger bands getting tighter and tighter. Now it has strongly developed a positive slope...signaling the current breakout. This is the first time since Aug 2013 that we have seen this.

We have seen plummets where the slow Sto and MACD have negative slopes before the rise in the BBwidth...this is a signal of a major decline as you see in Mid April and Mid June 2013.

5. The next target I have for the price of gold is now $1350/troy oz....if we pass that level (and I am not so naive that it will be a linear climb but there are supports from the 200day SMA and that mini channel resistance - now turned support to help it along) we will be well on our way to the next resistance level I see which is somewhere around $1410.

But that is fantasy right now...I always look at things from one one support/resistance range at a time.

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  #29 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014

New stocks from O&G Sector

Another week another round of stock purchases...this time in the O&G sector...a junior oil company - Manitok Energy Inc. [TSXV:Mei]

this company has had some personnel problems which caused its stock to dive at the end of last year but it seems to be well on its way to recovery now.

the FA looks fine with low quarterly debt and increasing operating revenue. It is an Alberta based Oil and Gas company with its activities in Western Canadian Sedimentary Basin. I am not a fan of companies that use FRACKING. I think this is an environmentally irresponsible way to make money...Manitok appears to be a conventional O&G company.

Stock Market Quotes | Company Financials, Financial Information

From a TA perspective

here are the charts I use

MEI.V - Graphical P&F - Charting Tools - StockCharts.com[PA][D][F1!3!0.05!!2!20]&pref=G

the above P&F chart shows the recovery of the share price over the last 2.5 months...Note the "low pole reversal" in the upper left P&F Pattern. This indicates from a P&F perspective that this stock is about to turn bullish. In Feb it has broken a resistance at $2.50 and then again at $2.60 which is now the support...the next resistance level is a band between $2.85 - $2.95.

MEI.V - SharpCharts Workbench - StockCharts.com

this above chart shows the strong recovery. The Slow Sto is nicely pegged into the so-called "overbought" range. I don't listen to those that say this is a sell sign...when it trades out of this range I might think about it, look at the beautiful MACD sloping even more positive.

The Bollies has 2 pinches so far and buy triggers were on Jan4 and Feb 11 as shown by the steep rise in the BBwidth.

Note that the share price has closed above the upper BB 3 days in a row....I expect a small pullback to about $2.65.

MEI.V - SharpCharts Workbench - StockCharts.com

This is a very bullish chart. The share price seems to have a delay before following the CMF...which has been bullish for a month....the RSI has a nice increased slope and the ADX DI+/- is bullishly diverging...

MEI.V - SharpCharts Workbench - StockCharts.com

Another really bullish chart....in the ichimoku you see the share price has emerged a few days ago from a red cloud, the On Bal Volume is beauty and CCI is nice.

These charts have no trace of bear in any indicator,

Let's look at an intra-day chart for the last few days

https://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosettings=1&symb=ca%3amei&uf=8&type=4&size=4&sid=8110912&style=320&freq=7&entitlementtoken=0c33378313484ba9b46b8e24ded87dd6&time=3&rand=1369292695&compidx=aaaaa%3a0&ma=3&maval=9,20&lf=1&lf2=2&lf3=4&height=981&width=1045&mocktick=1

looks like another good day shaping up tomorrow...I don't think it will drop to $2.65 as I suggested in the beginning of this post. Both the MACD and RSI are negative right now so I will try for $2.70

I will enter an order for 4000 shares of Manitok Energy - [TSXV:MEI] at $2.70/share to be entered at the begining of the trading day Tues Feb 18

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  #30 (permalink)
Calgary Alberta/Canada
 
 
Posts: 934 since Feb 2014


It is 8:25MST right now and again the stock did not dip as expected

I will change my order to 4000shares to $2.75 for Manitok Energy - [TSXV:MEI]

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