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is this the end?
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singaporegal
Supreme |
11-Jun-2006 12:05
Yells: "Female TA nut" |
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I believe the same thing! that's why I'm singaporegal and you're sporeguy! Hahaha.. Nature works in strange ways and also in stock markets yah??! |
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Sporeguy
Elite |
11-Jun-2006 12:03
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1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144,..... is a Fibonacci sequence. Add the previous 2 nos to get the 3rd one. eg 1+1=2, 1+2=3, 2+3=5, and so on. The ratio of nth term over the (n+1)th term approaches 0.618. The ratio of (n+1) term to that of nth term approaches 1.618. For eg 1/1=1, 1/2=0.5, 2/3=0.667, 3/5=0.6, 5/8=0.625, 8/13=0.615, 13/21=0.619, 21/34=0.618, 34/55=0.618, ...... Fibonacci numbers are abundant in nature such as no. of petals, no. of leaves, in seashell, in building and painting frames. A human is said of good body structure if his navel ht is 0.618 that of his overall ht. So it is believed that human behaviour also subconciously follow the fibonacci sequence pattern. That is how the 61.8% (which is equal to 0.618) fibonnacci retracement appears in TA. |
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april4song
Member |
09-Jun-2006 15:57
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Hi Sporeguy, Wah, another supporter for fibonacci! Well there are lots of tools/indicators but the most impt factor is stll timeliness! |
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singaporegal
Supreme |
09-Jun-2006 15:53
Yells: "Female TA nut" |
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wow.... congrats! TA's advantage is that it allows quick decisions to be made. |
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Sporeguy
Elite |
09-Jun-2006 15:48
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Yesterday, as the market panics with frantic selling, I noticed that Sky Petrol TAs was quite okay (of course there are many other counters), and noticed that price will drop to 29.5c ( a drop of 3.5c), so there is an opportunity to buy for contra. I used fibonacci retracement of 61.8% (for quick mental caln, I used 60%, ie 0.6x3.5c=2.1c), so I reckon that I can contra at 31.5c without any problem because of yesterday panic selling. So at 3.30 pm, today, all my Sky Petrol has been sold through contra. This type of opportunity does not come quite easy, and need a lot of quick analysis. |
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april4song
Member |
09-Jun-2006 15:36
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Yeap.. quite accurate but sometimes can miss by a little here and there. |
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singaporegal
Supreme |
09-Jun-2006 15:29
Yells: "Female TA nut" |
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sounds interesting.... thanks... I'll look it up. do you just use this for your trading decisions? |
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april4song
Member |
09-Jun-2006 15:22
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Fibonacci retracements is similar to Elliot Waves. Useful for counters in down trend but I supposed it can be for up trend too. It is assumed that a share will correct in the pattern of 23.6%, 38.2%, 50%, 61.8% and then 100%. In most cases, 61.8% is quite the limit unless fundamentally the company is in question. Manual calculations can be done similarly well too. Not an expert but works ok for me. Learn via reading up. |
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hikitty
Master |
09-Jun-2006 15:14
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Labroy is not the only stock that is heading south though its order books are full. Neratel beats it all. It has been paying a dividend of about 3 cents per share for most of the years, and its business has been profitable and growing. Despite that, it has been heading south for a long time. Labroy is at least better as it does not head south for too long. As long as one is NOT a contra or margin player and buys near or below the historical low, there is no need to panic sell or cut loss - for sure, the company is not likely to be another CAO or ACCS disaster. |
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singaporegal
Supreme |
09-Jun-2006 14:25
Yells: "Female TA nut" |
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No worries... I'm also learning myself. I don't really use Fibonacci retracements. I rely mainly on AD, RSI and Williams %R. Seems to work for me. Can you share more on your experience with Fibonacci? |
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april4song
Member |
09-Jun-2006 13:09
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Hi singaporegal, Sorry, didnt realise i got a response as i dont come into this website frequently. I based my observation using Fibonacci retracements and 1.10 should already be 61.8% while if support fail could be anything below until it hit 0.795 or 0.80 cents. Like i said my interpretation could be limited and hence must be taken with a pinch of salt. Not so familiar with RSI but do check with AD and a few other indicators. Hope cam learn a few things from you. Not vested yet. |
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singaporegal
Supreme |
07-Jun-2006 21:33
Yells: "Female TA nut" |
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Hi april4song, which chart are you looking at? From the TA charts that I use (RSI and AD), I see more downside coming. |
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april4song
Member |
07-Jun-2006 20:32
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Today Labroy Marine hit 1.14 and I believe its chart shows that there is a little more downside. If 1.12 cannot hold then it should hit 1.08. Can accummulate anything around 1.10 to 1.14 based on my limited opinion. |
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gho485
Senior |
01-Jun-2006 13:04
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labroy price has been easing despite record order book. is there a reason why it has been easing off to the level before the announce was made on their first rig order? can anyone advise is this a good entry level? |
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