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Ok, hangdog!!!!
That blah, blah, blah Descending Triangle broke down (like I gently cautioned that it might) and I also said a strong move out of it was sure to happen. Well, pal.... look what happened.
Finally, I am both a trader and investor. I often don't go into stocks with a pre-set timeframe. I have not TOLD anyone WHAT TO DO. I make judgement calls and then offer my opinions. Several folks here are losing substancial money with what this board approves of doing and I don't like to see that.....yes, it's their money.
So when one of your Long and Strong homies says "buy more as it falls" you don't offer a critique......but when I caution (only caution) of a break from a triangle that will cause financial loss......YOU chastise me!
Get lost.
hangdog...last reply to you.
I miscounted my Membermarks...it was 31. So did you not remove me? I'm flattered!
My spelling is poor but I am a good writer...I don't really try my best in chatrooms while doing other things. I was not aware I was presenting such a poor image to everyone on this board until you brought it up. I'm sure your right.
You really took some time with that response. Why waste your time, my friend. Just iggy me.
Like I said, it's fine with me.
Actually, would you PLEASE iggy me.
Thank you.
beam....if you have 3 grandchildren....
You are a WINNER no matter what happens with NEOM or any other stock.
Ok, that's it.
Last one for tonight
I know that most people don't want to hear from someone with an opinion that is different than theirs, when their play is losing money. That's no fun. But I have NO taste for insecure "I told you so" rants.
Believe this or not.....but I am just trying to reach a "few" folks who might want to re-evaluate their opinion and use my comments as building blocks to enabling that. What I am offering is stock market principle.... and can be used on any stock.... not just NEOM.
Nobody chastises the guy who says "Long And Strong...buy the dips"...but when someone is saying something that is proving to have the ability to save money....well, out with the trash.
Some of you have been very open-minded and kind. I do appreciate that.
Goodnight!
I know my views anger some......
Back in the late Summer of 2000 I went on the Cisco board because I was using that stock as one of my benchmarks for the overall market meltdown. The stock was basing at about $50 after a hard fall and I suggested to someone there that Cisco would surely break $50 and likely never see it again. I was only trying to help. I never saw someone so angry. He thought I was delusional. My point is that many folks in chatrooms are so in love with their beloved company that nothing will change that opinion and anyone with insight to the contrary is burned at the stake. I am in love with the strategy of making money in the market...but I don't fall in love with companies. That is an immediate bias that I don't want to drag around with me.
C1
hangdog, one last thing....
Thanks for the spelling correction. I am a terrible speller.
C1
hangdog...just one comment
I bought NEOM (several times) at an average price of 12.8 cents when it boke above resistance waaay back. That is why I was originally in the stock after finding it on a penny stock scan.
I am here now to try to help those who have sent countless private messages from frustrated holders of this stock that support my view. I have about 34 membermarks to support my case.
Finally, I do keep an eye on this because the potential is there, but the technicals are breaking down.....but not with my money.
Again, iggy is a very easy option for you.
All the best!
hangdog....just iggy me.
It's ok.
beam11...very refreshing..eom.
icgreen22..regarding Bill Miller
Fund Managers are not allowed to purchase penny stocks. As for AES, you are speaking of a PROVEN company that was beaten down to a value level of $2.... not a TOTALY unproven company that is currently at 15-cents. Yes, value investing is a very basic investing principle, but buying NEOM here would not be value investing it would be gambling on a company that, again, it TOTALY unproven. It is total speculation...and that is yet another style...but you speculate on companies that are in uptrends and show strength, not on one that has broken down from the critical Descending Triangle that I have been speaking of for some time.
All the best.
cloud8....thanks for your opinion.
"Doubling Down" as we will call it is pure gambling. You might be right when you do it but they are gambling odds. The odds in the stock market if played the way I suggest are far better than break-even and faaaaaaar better than Vegas.
Good luck!
rayu....sell stops and adding
Are diametrically opposed.
I am going to leave it at that because I can see that your mind will never change.
Thanks for the reply.
rayu, when you say "nothing has changed"....
You are already biased that everything is great with NEOM. How do you KNOW that?
Price is saying something different.
Just a thought.
Allow me an observation:
Most everyone here comes out as supportive when someone (for reasons unknown) seeks board approval when declaring they bought even more shares as price continues to break down. It would me nice to see one person say, "wait a minute this is not working" and break from the pack "Long and Strong" mentality and start to think as an INDIVIDUAL. I am not saying sell everything for those of you who are in for the long-haul (it's a bit late for that), but for gods sake...don't hit the accelerator while you are descending even lower by buying even more shares because "they are cheap". Everything is cheap for a reason, or expensive for a reason.
Everyone makes mistakes, but I don't see any learning’s from what is happening.... just more of the same roll-the-dice, double-down pattern. Guys, don't you want to learn from mistakes...? We all make them.
In all seriousness, you NEVER add to positions when price is faltering. I know I have said this many times before.....Doesnt ANYONE want to take a learning shortcut by listening to someone who has been there and made mistakes in the past?
It's your call...
Good luck!
Doc....just a few words....
While it's true that I am more of a trader than a buy and hold type....I really need to say this for your own good: It is a HARD AND FAST RULE that you ALWAYS add to your positions, no matter how long you plan to hold them, on breakouts above resistance (buying on strength) and NEVER because the stock gets cheaper and cheaper(buying on weekness). You are letting your positive bias on NEOM burn you. Don't follow your bias.....follow price.
If you correct that ONE mistake, you will see a remarkable difference in your financial well being and you will sleep better too.
Finally, if you don't sleep like a baby because of your share position on any stock....are are holding to many shares.
Hi, Beam11....regarding "re-entering"...
I still watch NEOM but I have no pre-set assumptions about it's movement (up or down) at this point. IF it moves up through key resistance ON HIGH VOLUME I would consider a position. For now I just keep a watchful eye on it...along with many other stocks.
I have said several times recently that the Descending Triangle pattern that is coming to a head does not bode well for near term price, but that does not mean it can't rocket up, either. The Descending Triangle is just a pattern that (based on percentages of past moves of the same pattern) is termed Bearish. It is a Yellow Flag, however.
C1
Regarding the top search list...
I wonder how high the first three would rank (and how much revenue and stock price would be lost) if porn surfing were eliminated from the equation.
Note: I bow to Ebay. The best business model I know of, PERIOD.
EDOQ, what you just said....
"Personally, when I find my opinions are those of the majority, I know it's time to re-think them", can and should be applied to the stock market as a fundamental principle.
The stock market saying, "The crowd is always wrong" could not ring more true.
C1
EDOG.....now YOU sound like...
someone I would love to have a conversation with.
All the best.
C1
Doc....it appears.....
That you really don't know me, as would be expected from a chatroom forum.
All the best.
Cloud...my point exactly!
I have Noooo problem with "Myspace" as a business venture. I am ALL about free enterprize. It's HOW it is being used (to your point) that is sooooo disapointing.
Note: I am the furthest thing from a "restrictive" person, as you could find.
OT: phoenix69 regarding my "sermon"...
I was raised by a Libertarian father so I am a VERY free thinker who believes everyone should have the right to choose. As only an observation, I find it sad that the Macro choices that ARE being made slip further and further into the abyss of apathy and acceptance for mediocrity.
I have NO problem with free choice...I raise that flag higher than almost anyone.
cloud...I'm not drawing anything....
It's a huge 20Owk moving average line that you can see from 10 feet away on a default Stockcharts page. I did NO annotations. You see it as soon as the weekly page opens.
C1
Regarding Myspace Rise......
I personally think it's a tragedy that a fringe porn site (and I mean that) like Myspace is now the top on-line site. I have to put up with utterly AWFUL Television programming because the dumbing of the masses has made bad T.V. and "come b@ng me" sights like Myspace the new "norm" in America.
Frankly, I was VERY disappointed that the Marketing guy from NEOM had his own Myspace page. Does he have time for that cr@p?!
C1
icgreen...the best thing I can say for you...
and this is worth remembering - It's only scary if you have pre-determined what you are going to do. There is no point in looking for rain clouds and warning signals if you are going to run red lights.
Recognizing and acting on warning signs, OR profit opportunities, is a BIG step in improving overall stock return performance. Most people just cross their fingers and "hope" for the best.
icgreen.....I wish I could say that.
NEOM is at a very important testing point right now. It is likely that a strong move will happen soon. You have likely seen my last post by now on the pattern is it currently in.
Good luck!
clout8 - It's on the WEEKLY chart.
A friendly word of caution.....
This long building "Descending Triangle" Pattern is not in your favor (based on percentages). It COULD break either way...but from a purely technical standpoint it is a bearish pattern.
Yes, I know it has been discussed here, by me as well, but I'm just refreshing some thoughts.
Note: I am not trying to be an alarmist, nor do I wish any of you any financial harm.
Good luck!
Bravo, Success!
If that was a challenge, no I was not watching level II at the time but thanks for the details. Unfortunately, there is to often much manipulation at key support and resistance levels that almost always works against the basic trader.
I would watch closely (for those of you who have charting tools) to see where NEOM closes compared to the 200 Week Moving Average seen on (of course) the weekly chart. On the weekly chart you always want to wait till the end of the trading week to get an accurate picture of the weekly candle: (Hint - midweek dips can force your hand but by Friday that weekly candle can recover to signal that the rain clouds have passed).
Great Words of Wisdom to Remember and APPLY! ....
Because most novice traders do the opposite.
This applies to ALL stocks...
"NO STOCK IS EVER TO HIGH TO BUY OR EVER TO LOW TO SELL".
Trust me, this is GOSPLE to the Pros....not just me yammering.
How many of you say "well that stock got away from me, I can't buy it now", or....."it's so low I would be stupid to sell now". Or worse yet, "it's so low now I better buy more"!.
C1
WOULD ANYONE LIKE TO GUESS.....
What KEY support level NEOM bounced off of at yesterday's .18 cent low? I have been watching for it for some time and you really DO need to know these things in advance for confirmation of a key support break or of a hold of support (even if only temporary).
Yesterday's dip was NOT arbitrary....it was a test of key support.
C1
PeeVeeCee...Re: American Bulls.....
It seem you answered your own question.... and correctly, I might add.
American Bulls is a one dimensional "3-candle set-up gimmick" that gets attention as the "magic bullet". It is a terrible (not bad, terrible) source of reliable and sustainable information. Common traders like it because it gives them an excuse for not learning the broad and complex range of technical analysis that are necessary to be reliably successful from a technical standpoint.
It's a shame that it is presented on this site as a possible reason to pin hopes on. I notice it never gets mentioned when it says, "sell"...Hmmm.
I think my stance on AB's is rather clear.
Good luck.
OT: success....the only reason.....
I mentiond GZFX was because I recommended it months ago and was offering a single follow-up.
I see 20 "Violin" posts a day on this board sawing on how feelings are hurt, I for one would rather not wade through those.
I don't expect a response (of course).
icgreen22: Now you are a contrarian..
That will take you far....and I am not kidding.
OT: PeeVeeCee...interesting....
I only used the chart. It shows how charts CAN give clues to future news....
Back to your originally scheduled program....
OT: GZFX is setting up....
For what I believe COULD BE an explosive assent. I look for rounding bottoms like these were the leading edge rises above downtrend resistance (as is the case here) as a fairly high predictor to forecasting explosive up-moves. This does not mean it will happen...but it would not surprise me AT ALL.
"American Bull" would best be...
Not mentioned on this board. It is, and has always been a poor indicator in that is takes a very narrow candle set-up approach to it's predictions and it's perfomance outcome reflects that. There are many, many technical indicators to consider (as some here know) and AB takes a sort of "magic pill" approach that often gets people hooked.....but yes, I do hear it referred to on boards. Plainly said....it's a waste of time.
Jonesie....your point?
That is exactly what I said and nothing has changed. NEOM did indeed make a nice small move up today....but this was in NO WAY a break above the triangle.....YET.
Since when does a "nice small move" have to be the break I was speaking of? There was no volume today and (I will be frank here) it is very, very clear that the triangle...when drawn correctly, was not broken to the upside.
Sorry, but still in the Triangle...
NEOM has not broken above the downtrend line of the Decending Triangle.
Not trying to be negative....but it flat out has not happened.
OT: General comment on shorting stocks:
Almost all pedestrian traders/investors don't short stocks. You might want to get comfortable with the idea of shorting at some point. (Just short 5 shares of something as a practical test). This is not a comment about NEOM.....it's a general statement about the market. Not shorting is like driving your car and only making left-hand turns and never making right hand turns.
The only issue is you need to stay on top of the position. That does not seem to be a problem for the folks on this board. There is nothing "dark side" about shorting. It's just smart to be able to take advantage of both sides of the market.
Let the market be at your mercy and not the other way around.....
C1