OK, so last week wasn't the best week to go visit the Mom-in-law out in the country where I could barely get a wireless connection pirated from the neighbors. Every time a page would start loading, the connection would drop and I'd have to start over again. Well, it probably kept me from the panic that seemed to be hitting the Street.
I did make a couple of sales, and a few purchases as well. It's hard to resist a stock I've been watching for a while when it hits what I think is a bottom. I saw two last week, Bullion River Gold Corp(BLRV) - down from $.58 to $.37, and Evolution Petroleum Corp (EPM) - down from $2.65 to below $1.98, settling at $2.33 for the Friday close.
What with just about everyone's Central Banks injecting funds for "liquidity" and the Fed's cut of the Discount Rate, Ol' Inflation will be rearing it's head here before too long. You see, back in the 80's, the big number that everyone watched was the M1 Money Supply that came out every Friday after the close. When it went up, the Fed got scared of Inflation and raised rates. You see, back then, everyone remembered the Scary 70's, with inflation hitting over 14%, and interest rates just as sky high to try and control it. Sooner or later, people are going to remember those days, along with the price of gold over $800 per ounce. What would that be in today's dollars? Well, take it that a loaf of bread was, what, $.25-.35, and I paid over $3.00 for some whole grain wheat the other day (probably due to corn and grain prices blown up by the Ethanol Folks), then gold prices could be adjusted quite a bit upwards if the fit hit the shan...
The EPM I just picked up on a hunch that it would have a nice bounce in the next day or two. Hey, The Dean Cometh...
Sunday, August 19, 2007
Thursday, August 9, 2007
More hammered stocks...
Looking at the charts after closing and Cramer, I see more hammered stocks of very good companies: Electronic Data Systems (EDS), Superior Offshore International (Deep), Rite Aid (RAD), Evolution Petroleum (EPM), etc.
EPM seems to be more of a cyclical, though I haven't figured out the cause of the cycle yet. They're in the NatGas business, along with "enhanced recovery" oil technologies. They seem to drop down to around the $2.30 mark or so before popping up to the $3.60 mark or so over the last year or so. Kinda like what those guys over on "channelingstocks.com" always look for. You got it here free, folks...
EPM seems to be more of a cyclical, though I haven't figured out the cause of the cycle yet. They're in the NatGas business, along with "enhanced recovery" oil technologies. They seem to drop down to around the $2.30 mark or so before popping up to the $3.60 mark or so over the last year or so. Kinda like what those guys over on "channelingstocks.com" always look for. You got it here free, folks...
Hammered again, buying opportunity!
No, not hammered as in (hic), THAT kind of hammered...
Stocks are pounded down due to the BNP Paribas news and flight from the euro into the dollar. Even gold is getting hit as the dollar gains strength. I might look to perhaps get into a gold mining stock today.
A good looking one I've been watching is Bullion River Gold Corp (BLRV). They've been going into an old mine to the northwest of Redding, Ca. and opening things up again. Recent test samples are showing over 40 troy oz. per ton. This company has traded for over $1 per share in the past year, but is hovering around $.58 to $.60 per share lately.
For other sectors, I see Tenet Health Care (THC) is looking sort of bottomy (is that a word?). Last time the RSI was anywhere near as oversold as this, it had a nice bounce from $7.50 to $8.50 or so.
Stocks are pounded down due to the BNP Paribas news and flight from the euro into the dollar. Even gold is getting hit as the dollar gains strength. I might look to perhaps get into a gold mining stock today.
A good looking one I've been watching is Bullion River Gold Corp (BLRV). They've been going into an old mine to the northwest of Redding, Ca. and opening things up again. Recent test samples are showing over 40 troy oz. per ton. This company has traded for over $1 per share in the past year, but is hovering around $.58 to $.60 per share lately.
For other sectors, I see Tenet Health Care (THC) is looking sort of bottomy (is that a word?). Last time the RSI was anywhere near as oversold as this, it had a nice bounce from $7.50 to $8.50 or so.
Wednesday, August 8, 2007
Channel Cash blog online!
Howdy folks! Welcome to my blog. It's not so much a cash generating sorta blog, but one that points out stocks that I'd put (or have already put) my money in.
Basically, I'm a Chartist. I was introduced to charting back in the early 80's while working nights in Pasadena turning the cranks on the old mainframe computers. I'd get home in the mornings and instead of watching Voltron or As the World Turns, I started watching channel 22 all day and learning about the Market. I absorbed all the Wisdom (buy low, sell high, etc.) from the updates on the market all day, but I always thought one of the smartest guys on there was Gene Morgan. He had a show called "Charting The Market" that came on every day after the day's close. He'd take everything from the DJIA, Transports, and Utilities, Gold, Silver, all the way to individual stocks and explain them all on his charts. He could explain all the mcclellan oscillators and summation index, advance/decline lines, and Bollinger Bands, and all the tools they were using.
These days, I like to use a website called FreeRealTime.com for my research. They're actually free, but it's almost worth the pay site for the relief from popups/unders. You can create custom charts for most any stock on the US exchanges. Oh, the ADR's work too. I like to use a 3 or 6 month timeline with a 50day SMA, along with the MACD, RSI, and volume displayed below.
What I like to look for in a stock is generally a hammering, where the price has taken a beating due to news of some sort. This usually coincides with the RSI hitting 20 or lower, indicating an oversold condition. Looking at the MACD (http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:moving_average_conve) , I try to find an uptrend, or at least a crossover into positive territory. Many times, after a hammering down to a stock's 20 or lower RSI, it takes a while to get the MACD turned around and heading upward again, but when it does, I look to buy.
Stocks I'm looking at now are Gateway Computer (GTW), Countrywide Financial (CFC), and Advantage Energy Income Fund (AAV). Nice dividend from AAV ($.14/month), but they keep Canadian taxes out of it, so it winds up around $.12 per month.
Keep an eye on these and see what happens!
Basically, I'm a Chartist. I was introduced to charting back in the early 80's while working nights in Pasadena turning the cranks on the old mainframe computers. I'd get home in the mornings and instead of watching Voltron or As the World Turns, I started watching channel 22 all day and learning about the Market. I absorbed all the Wisdom (buy low, sell high, etc.) from the updates on the market all day, but I always thought one of the smartest guys on there was Gene Morgan. He had a show called "Charting The Market" that came on every day after the day's close. He'd take everything from the DJIA, Transports, and Utilities, Gold, Silver, all the way to individual stocks and explain them all on his charts. He could explain all the mcclellan oscillators and summation index, advance/decline lines, and Bollinger Bands, and all the tools they were using.
These days, I like to use a website called FreeRealTime.com for my research. They're actually free, but it's almost worth the pay site for the relief from popups/unders. You can create custom charts for most any stock on the US exchanges. Oh, the ADR's work too. I like to use a 3 or 6 month timeline with a 50day SMA, along with the MACD, RSI, and volume displayed below.
What I like to look for in a stock is generally a hammering, where the price has taken a beating due to news of some sort. This usually coincides with the RSI hitting 20 or lower, indicating an oversold condition. Looking at the MACD (http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:moving_average_conve) , I try to find an uptrend, or at least a crossover into positive territory. Many times, after a hammering down to a stock's 20 or lower RSI, it takes a while to get the MACD turned around and heading upward again, but when it does, I look to buy.
Stocks I'm looking at now are Gateway Computer (GTW), Countrywide Financial (CFC), and Advantage Energy Income Fund (AAV). Nice dividend from AAV ($.14/month), but they keep Canadian taxes out of it, so it winds up around $.12 per month.
Keep an eye on these and see what happens!
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