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All publicly traded companies ....
... are required to issue at least one PR every 480 hours, and no later than the 12th minute of the 480th hour since the previous PR was dated.
<snrk>
jonesie
TIV broke down thru the support around $10 ...
... settled into the support range around 9.12 +/- .39, flirted with the bottom of that range and has, at least temporarily, bounced up into the middle of this support range.
Chart shaping up kind of nicely actually, with several of the indicators (time-frames on those indicators are key) setting up for a possible move up.
Ken Goodrich has spend a lot of time analyzing charts and has come up with a pretty good sequence of events to watch for:
#1. AROON- 8 You watch as the Aroon down crosses the 75 down and the aroon up comes up from zero. Most important. (\0/)
#2. WILLIAMS%R- 9 You watch the line cross the 50.
#3. ChiOsc- 2, 5 You watch the ChiOsc crossing the zero line.
#4. ADX/DMI-5 You watch as the D+ line either crosses, or is higer then the D-
#5. MACD histogram- 5,15,10 You watch the negative bars register -50% smaller then the bar before it, or -50% smaller then the largest in the grouping.
#6. Full Stoch- 5, 5 You watch the fast line cross the slow line while the aroon down(8) crosses the 87.50. Crossing the 20 would be best, when the williams agrees.
#7. Bollinger Band 20,2 You watch for the Magic Box to occur when the negative close touches above the lower bolly and the next day’s close to it is positive growth in a white candle.
Several of these indicators are in place or moving into place, however volume is low. Also, that cup/handle formation is still in play, with the handle having retraced ~50% of the gain from 6.14 to 11.75. This could bode well for appreciation in the PPS from where TIV is now.
Caution: Next support below the single strength support level TIV is in now is quite a ways down. Be nimble unless you're in for the long haul.
All JMHO -jonesie
onthetake, good luck with those.
And I mean that very seriously since I added 5K myself this morning and would prefer to be "right" more than I would prefer to be "rich" at this particular moment LOL.
I guess the selling is from those thinking that nothing good, or nothing much at all, is going to come out of the SHM?
jonesie
lol rcmshane, glad you got a chuckle.
As to when ... I have no idea.
Reminds me of a joke ... works here in the South ;)
Know what you call a deer with no eyes?
No idear?
Know what you call a deer with no eyes and no legs?
Still no idear?
Know what you call a deer with no eyes, no legs and no, er, b###s?
Still no f'in idear? (apologies)
Fat Finger Freddy screwed up my intraday chart with the trade at .267, prolly meant to enter .276. Makes the chart look like more of an intraday Magic Box than it probably should. Nevertheless, an intraday 5-minute chart looks pretty good, indicators confirming all over the place and money seemingly starting to flow into the stock ... not unexpected at all in this support area. The market has pleasant "memories" of buys placed in this area, so it seeks to create more pleasant memories here.
I don't mess with intraday charts much anyway, not much of a "day"trader, just a swingtrader, holding some LONG like NEOM and buying at (hopefully) the bottoms of the swings.
GLTA
jonesie
One more thing onthetake:
NEOM keeps printing red candles on the lower bollinger band (yuk), and Aroon Down is at 100 at the moment. As Ken Goodrich would say, what would be nice to see next would be a nice white candle (duh) coming off that lower bolly, Aroon Down moving down to 87.50, then wait on Wm%R to confirm a Magic Box setup by crossing 50 to the upside.
Other things I like to see, in addition to that initial setup, is +DI crossing -DI to the upside, preferably over 20, ChiOsc crossing 0 to the upside.
All the indicator time-frame settings are specific to that setup by the way.
Sooooo ... things are kind of "in position" for that setup to occur, although it hasn't even begun to begin yet lol.
Let's begin the beguine!
onthetake,
It's early yet and I was up late watching the Falcons on Monday Night Football, but ...
What it means to me is that NEOM is right at what has been a pretty good support area on two previous occasions (the blue line on the daily). I tend to add a few in here each time. If NEOM holds at this level it will be a true triple bottom in the way I look at things, and possibly a point from which some price appreciation could occur ... based on some substantive good news, or perhaps even just a technical bounce. If NEOM doesn't hold here ... well, yuk, that'll cause some pain and sometimes pain begets pain.
I also revised that lower uptrendline on the daily, purely subjectively and for my own use, starting it where NEOM first perked up last November, catching that next low low, bringing it to a point below where we are now. I just wanted to see that a little differently than where I had it before so it wouldn't feel like NEOM had fallen off the edge of the earth if it breaks that horizontal support line. Just playing games with my own head lol.
The weekly just shows NEOM coming back to a lower uptrendline which stocks nearly always do in the absence of news or other PPS drivers.
Something of a critical juncture here chart-wise, IMHO, the kind of spot that can have faster traders moving quickly if/when supports break, causing the inevitable slide down. Also, the kind of spot where a rebound can occur, but there will need to be a reason this time, IMO.
How's all that for straddling the fence? But that's pretty much where NEOM is I think, right on the fence. I need more coffee.
GLTA
jonesie
Where NEOM is "chart-wise"
Daily (revised the old uptrendline a bit)
Weekly
Ken, thanks for running the seasonality on EGHT.
I'm out. Simply, when the market puts a large chunk of money in my hand ... I close my hand.
If it doubles on Monday I don't even care lol.
I hope to get back more often, it's been hectic.
regards,
jonesie
Anyone else here in EGHT?
Check that chart out, up 58% today.
Y.J.:
I guess the answer to the question first posed a few weeks ago in this chart is: #2.
Added cuz the chart told me to. Will add more on any lower point as appropriate.
Rock 'n roll in '06!
jonesie
Oooooooh, there it is.
How about that Cloud, came back to that same spot again. Who'd a thunk? <grin>
So, this would be a triple bottom if in fact that turns out to be the case, eh?
Buying here, can't help it. "They" will probably try to spook everybody who buys here, because "they" are figuring "we" are thinking "hey, this is where it reverses!"
No guts, no glory lol.
GLTA
jonesie
"any detailed information that you believe you are required not to disclose"
Just curious ... wtf would any investor be doing having that kind of information in this era of FD?
Maybe I'm missing something here ;)
Okay, more coffee needed, let's have a great day!
jonesie
Ohhohoho kevon, au contraire ...
"a sick pps that keeps getting sicker"
See my previous post to photo, the pps is acting exactly like one would expect it to. Not sick at all.
jonesie
Ohhohoho photo, that's pretty good.
So, 8 sellers, 1 buyer. Who was on the buy side on the other 7 trades, Mr. Magoo?
I think folks are being patient at this point, and rightly so. Why should a runup commence at this particular moment? Keerectamundo, there's no reason.
This chart tells it all as far as I'm concerned, actually, these two charts, the daily and the weekly. Right in here to maybe even .29 is most likely a very good place to be buying, I've bought quite a few around in here, so I'm being patient hoping for some more around .29. I expect others are doing the same. JMHO -jonesie
Daily
Weekly
Finally got the SEC stuff resolved.
Cedric out, Angel and Dilorenzo out? have to read it again.
Now maybe this thing can get moving forward some more, later on.
Beer League to be distributed next year. Pledge This, not sure of the timing on that one?
LOL, what a crazy looking company but up 63% is up 63% eh?
jonesie
Woohoo!
Yeow, what's going on? Nice surprise to come back to after a little nap LOL
jonesie
My CFW has been moving nicely in anticipation of the following news, and the news came out today ... up ~ 10%.
Cano Petroleum Closes $55 Million Acquisition of WO Energy & $115 Million Financing Facility: Boosts Production 200%, Proved Reserves Grow 700%
--------------------------------------------------------------------------------
BusinessWire
06:00 a.m. 11/30/2005
Third-Party SEC Engineering Report Estimates PV10 of WO's Proved Reserves at $287,807,000
FORT WORTH, Texas, Nov 30, 2005 (BUSINESS WIRE) -- Cano Petroleum (CFW) announced today that it has closed the acquisition of WO Energy of Pampa, Texas ("WO") for $55,240,000. After the acquisition, and based on Cano's year-end SEC pricing of $56.54 oil and $6.80 gas, the PV10 valuation of Cano's proved reserves increased from $59,551,000 to $347,358,000. As a result of the acquisition, Cano's proved reserves grew from 5,523,000 boe to 40,020,000 boe. Based on approximately 26.9 million shares outstanding, the acquisition results in a PV10 value of proved reserves (net of debt) of $11.24 per share.
The company's daily production will increase from approximately 400 boepd to around 1,200 boepd. With this acquisition, Cano's operating revenues, net of lease operating expenses, production taxes and debt service, are expected to increase to approximately $800,000 per month.
The $55,240,000 paid for WO was structured as follows: $2,000,000 cash, $8,240,000 in restricted Cano shares, $30,000,000 senior debt financing and $15,000,000 subordinated debt. The 1,791,320 restricted shares issued in the transaction were issued at market and are restricted under Rule 144 for one year, subject to additional selling conditions beyond that. The purchase price was allocated $5,240,000 to inventory and equipment, with the balance of $50,000,000 to the underlying oil and gas assets, resulting in Cano paying approximately $1.45 per proved boe - a figure that is comparable to Cano's previous acquisitions, but is significantly lower than recently reported acquisitions in the industry.
WO's assets are located in the Panhandle Field consisting of 480 producing wells, 40 water disposal wells and 380 idle wells on approximately 20,000 acres in Carson, Gray and Hutchinson counties located in the Texas panhandle, approximately 45 miles north of Amarillo. The acquisition includes 10 workover rigs, company vehicles, compressors and associated equipment. The field currently produces about 800 net boepd to WO, comprised of 55% oil (40 gravity) and 45% gas (2,000 MMBTU) from the Brown Dolomite and Granite Wash formations at a depth of about 4,000 feet. Lease operating expenses are approximately $14 per boe.
Cano estimates that the WO assets contained over 600,000,000 boe of original oil in place (OOIP) and to date have produced approximately 90,000,000 boe through primary production. Forrest Garb & Associates' (Cano's independent engineer) engineering report estimates the WO assets contain approximately 34,497,000 boe of proved reserves comprised of 5,100,000 boe of proved-producing reserves and 29,397,000 boe of proved-undeveloped reserves that can be recovered through waterflooding, given the results of four analog fields in the same formation. Forrest Garb estimates the PV10 of WO's proved reserves to be $287,807,000. Cano estimates there could be up to an additional 63,000,000 boe of probable/possible reserves that can be produced with improved recovery rates and EOR methods such as CO2-flooding, bringing the estimated total of all WO reserves - proved and probable/possible - to 97,497,000 boe.
Cano is evaluating a capital expenditure strategy for the WO assets similar to the previously announced asset development plan for its other fields. The plan will be designed to increase current production, ahead of the anticipated future increases due to waterflooding or EOR.
The financing facility is comprised of senior and subordinated debt. The senior debt, issued by Union Bank of California (UBOC), is a $100,000,000 credit facility of which $30,000,000 in immediately available funds was used for the WO acquisition. This senior credit facility is a four-year term with no principal payments due until maturity and is subject to other terms and conditions. The interest rate is set at LIBOR plus 1.75 - 2.25%, adjusted annually. Interest will be paid quarterly. The $15,000,000 in subordinated debt, issued by Energy Components SPC and Union BanCal Equities, Inc., has a five-year term with no principal payments due until maturity subject to other terms and conditions. The interest rate is set at LIBOR plus 6.5%, adjusted annually. Interest will be paid quarterly. The first year "blended" rate for the senior and subordinated debt is 8.2%.
As a part of the financing terms, 830 boepd of Cano's production will be hedged with a "floor" at $60 per boe in 2006. The floor hedge price for 2007 and 2008 is $55 per boe. The three-year hedge does not have a "ceiling" which would limit the upside potential in the event that oil prices increase.
Jeff Johnson, Cano's chairman and CEO, stated: "This landmark acquisition and the closing of the $115 million credit facility demonstrates our management's commitment and ability to execute Cano's business strategy of acquiring mature onshore U.S. assets that hold significant upside potential through secondary recovery (waterflooding) and enhanced oil recovery (EOR). We will continue to execute this strategy aggressively and will do so as long as opportunities such as WO present themselves."
ABOUT CANO PETROLEUM:
Cano Petroleum, Inc. is an independent Texas-based energy producer with properties in the mid-continent region of the United States. Led by an experienced management team, Cano's primary focus is on increasing domestic production from proven onshore fields using secondary and enhanced recovery methods. Cano trades on the American Stock Exchange under the ticker symbol CFW. Additional information is available at www.canopetro.com .
After hours trade, 100K shares, .3277.
Yeah babeeee, get it down a little more, right into the sweet spot. C'mon.
jonesie
pvc, re: "To get on board for the next 400% ride up"
Doesn't mean +400% from here is the top, just the next stop along the way ... hopefully.
Who knows.
Interesting though, didn't TS use to tout his original entry at .06, instead of the .11 he just mentioned? Somebody here who remembers?
Hmmm, up 84%, yummy.
And nothing has been made public?
It would be a nice time for some good news.
Who lit the fuse?
Wheeeeeeeeeeeee!
Up 67% in CKPI.
The volume is amazing relative to the past few months.
Definitely something leaking out, probably finally getting the SEC nastiness resolved.
With the movies supposedly coming out after the first of the year, it will be interesting to see where CKPI can go with the PPS.
JMHO
jonesie
Hey, I hope everyone here has a Happy Thanksgiving!
Callin' it a day, have three stocks that went up 12+% today, headed for the Gulf for a Cajun Turkey and Fishin' Weekend!
Best wishes to each and every one of you.
GO NEOM! (but maybe fill me a few more at .29 first? lol)
jonesie
Maybe it's time. Someone knows something.
And I'm up 47% in this puppy!
GO CKPI!
jonesie
Ahhh, they got that trade reversed on TNE.
It had opened at 28.xx
LOL, check out fat-finger-Freddy on the open of TNE today.
He started his holiday weekend all wrong.
Yup.
Like I said yesterday, I'm a buyer between .29 and .31.
If I turn out to be wrong after doing that, then I'm wrong.
So far it has worked out pretty well.
GLTA
jonesie
One thing wrong with what he said:
"The reason for a buy at .37 is they won't let you buy below that."
LOL, I think he was expecting a quick slam down to .29-.31, not a slow drift.
jonesie
NEOM doing exactly as I have been saying for days ...
was using advanced.
I cleared internet cache files and all was well, forget to do that every now and then when there's a problem.
thanks!
are scans working for everyone now?
I seem to be having a problem with them.
allin,
To each his own opinion.
Has this chart lost "strength"? Or the one after it?
They are telling me everything I want to know at the moment.
"Sorry, but it is true."
In your humble opinion.
"All you people"
You sound like some bigot stereotyping people.
90% of what you just said doesn't apply to me, try and focus, you need to remember who says what and address people appropriately.
Meanwhile you're the only person on my ignore list again, I don't want to clutter the board just because I'm tempted to respond to your "opinions" with my "opinions".
Have a nice day
jonesie
personalizit,
I do that on a LOT of stocks that I know nothing about, stocks that I find in my scans with certain indicator setups. I'm just not doing it on NEOM, which I know more about ... I hope lol. If/when NEOM hits my lower uptrend line ~ .30 I'll add some, and if it whacks on down to that .288-.291 area again I'll add some more.
And then if someone wants to give me some even cheaper shares I'll probably take those too! I'm not quite at the share count I want for going into next year. Other than from a TA/buying perspective, I don't care what the pps is right now.
JMHO and GLTY
jonesie
Yep, you're right beigledog ...
For some reason I wasn't showing that trade earlier in the day.
Geez, it's not much volume today, but Friday's was nothing to sneeze at compared to TDYH's ADV. It just appears there is NO interest in this stock right now. Somebody isn't seeing the same potential we think we're seeing?
I'm doing much better in my listed stocks than I am in pink/otc story stocks these days. I'm about to stop listening to stories LOL.
LOL penny,
While charts can't tell everything about what a stock is or isn't going to do long term .. (news will ALMOST always trump TA) ..
The charts do telegraph potential direction and other helpful "information" (including upcoming news or lack of news), and using them has enabled me to be patient, have a plan, and confidently buy more stock at every recent bottom, knowing full well that it was going to BE the bottom.
So don't tell ME they do "nothing at all".
Meanwhile, it is the confidence that NEOM is going to be a big player in a big industry and have a BIG PPS somewhere down the road that puts NEOM on my list to even bother with charting and buying.
jonesie
"he can drop this stock 7% within minutes"
Be still my heart!
;)
Make it happen! I'm a buyer on dips!
GLTA
jonesie
1.27 in early Sept. was 52 wk low, right?