Back, for a limited time
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I don't know when they do their rollovers, but it appears the nature of the beast, meaning Oil ETFs as a whole, might be changing...
https://www.zerohedge.com/energy/uso-halted-worlds-biggest-oil-hedge-fund-manager-warns-etf-may-implode
Hiya Smilin... Here's an article you might find useful/helpful...
https://www.zerohedge.com/commodities/who-was-forced-liquidate-oil-today-goldman-answers
You're right, I stand (sit, actually) corrected.
The May contract expired today. We're now in the June contract (CLM20). Currently trading at 21.03.
LMAO!
Agreed.
Like so...
If I had the cash I'd be adding here as well, but I need it for my futures trading.
Down about 10% this morning. $8.08 is the 62% retracement of the 5.75 - 11.87 range. Gap fill/support @ 7.32.
I believe you... just don't recall it. I've got a nice chunk at 1.17. Didn't start adding until the low $2's and then just small, so this is a rare time when my procrastination actually worked out... so far anyway.
I don't recall Dines coming out with any "guarantees". I'll stick with my position here though. I don't mind having this cash parked here for a few years. I believe it'll eventually pay off.
I'm ready!
Up 6.19% closing at the high. Hopefully we keep this going now!
I'm a bit of a simpleton when it comes to fundamental analysis, but being invested in a company with the largest HREE deposit known in the world right now is worth the investment, even if there is a smaller window of time to get the stuff out of the ground and processed. I'd rather have some of my dollars parked here, even while currently in the red with a 1.23 cost basis, than in the bank earning next to nothing, all the while our gov dilutes the hell out of our dollars.
Long & strong baby!
Started buying back in @ 3.18 today. Not sure this is the bottom, probably not, but the price is right, imo.
Started buying back in today @ 1.10
My pleasure. Bought more at .93. 1.276 average now.
Technically (charts) speaking, if we don't get a close above .925 we'll likely head lower still. I've got horizontal support at .83 and another gap fill at .78.
A close today above .925 with some nice volume could bode well for capitulation here. Would be nice to see a big volume climax move with a close back above a buck, but I won't mind adding lower either.
Looks like all the REE's are getting hit in sympathy with MCP. Watching here to see what .96 and .93 might offer for support.
I like the candle and the volume. I would have rather filled the 1.09 gap just to have it gone, but that's more of a personal thing on my part rather than having any real relevance.
Fundamentally speaking, I don't know that we should be expecting a whole lot of movement here for the rest of the year. We're moving into the time of year when investors do their tax loss selling, funds will be doing their window dressing next month which may provide more downward pressure for QRM since it is a non-performer thus far. Maybe late December and into 2013 we'll get some more activity. I do suspect there's a decent short here, perhaps more of the "naked" kind than some would expect, and as the company moves closer to revenues a cover of the short will be a nice driver of higher prices. I'm in this for the long haul and am content to continue adding if we go lower and otherwise remaining patient.
Technically speaking, if we do move up soon, it would be nice to get through a few MA's and a couple trend lines to eventually get above 1.70 - 1.90.
.02 off the 1.09 gap fill. This drop today with decent volume could be the climax move to finally indicate we've hit bottom. Would have liked to have seen even more volume but we're almost 3x average volume at this point today with 2+ hours yet to go. The trading into the close, along with the closing price, is worth keeping a close eye on today imo.
The 50ma is at 1.333 now and could be our support. Have to see how that holds up today/this week.
So far, so good. 1.61 is the 20ema on the weekly chart. Last time we hit that was in March. 1.61 was also the intra-day PP-R2 pivot point. Kind of interesting if the stock moves within the PP's. Looks like current resistance is at the 100ma on the daily chart at 1.55. The uptrend line is a little steep to my liking. It would be nice to solidify 1.45 - 1.39 as support if/when we should do some back filling. Then it would be nice to make a move to the 1.75 - 1.86 area. 1.86 is the 30ma on the weekly chart, which is a highly watched moving average on that interval. Once we get above that and heading up again we'll be in good shape. We'll probably be above 2.50 by then.
My pleasure.
I liked the volume and that QRM moved and closed above the 50ma. The next thing I'd like to see is a close and hold above 1.46. Then a move and hold above 1.80 - 1.90, then on to the 200ma.
So far, so good and my port is happy!
I sure seem to be able to pick the stocks that test my patience! :-P
It's looking that way at this point. MCP was hammered again today.
We penetrated a minor downtrend line started in early March then closed back below it. Adam & Eve bottom formation is complete with the 1.39 close. A continuation move next week has resistance from 1.45 - 1.48 range, then the upper line of a channel we've been in since May offering resistance at 1.56, with a final target price of the Adam & Eve breakout at 1.64.
I would have liked to have filled that gap at 1.09, but that's more for my own psychological, basically irrelevant reasons.
We've got a lot more work to do on the chart before a reversal can safely be called, but the early set up is there. Some more volume would be nice but beggars can't be choosers and it might come after some stronger support is laid out, imo.
I'm quite capable of thinking for myself, thanks though.
I don't find it all that appealing myself, but that's as close to a c&h as I see on MCP's chart. I haven't been in this since the IPO so makes no difference to me.
GLTA
Gap fill at 1.09 as well. You have to revisit the beginning of the chart to see it.
I think the future is very good for REE stocks, but my reasoning is all based upon the research of people more knowledgeable than myself. I'm a chartist/investor, not so much a DD guy. There are some posting here who have offered some good info in regards to your question. I think it's just going to take some time for the turn-around to occur.
Still long & strong here. I added at 1.33 and will add again if the gap is filled at 1.09.
OY! No thanks. I'm all Monked out. I got Monked so hard I had to get a colostomy bag. I've had a good year with oil futures and I still haven't recovered my losses from the Monking I took. "Core group" is right... we were drilled deep and he took the core samples and ran.
Anyway, there's nothing left of the photo I had of him on my dartboard so life moved on.
Hope you're doing well Berries.