tradersams blog

pna entry

PNA:  Made a pyramid entry into PNA today at $0.39.

As you can see from the pic I have an open position from whilst the share was falling – this is because I previously closed my PNA position, but took up the offer to buy additional shares from teh company via a placement offer.  As the placement offer was small, I held them figuring I would sell in time when I could increase the parcel size.  Either way, nice break through short term descending trendline, but can expect resistance only a short way up.

roc entry

ROC:  Entered again at 0.79 on an encouraging break  of the short term downtrend.  This is actually a setup I am seeing in a number of my stocks I am following at the moment, all based off the general market sentiment.

In my inbox today I have a few articles of interest – This one from Casey Research – “The 20 year Bear Market“, and other ones talking about ‘shrugging off the ASX 4000 level’.  The Casey report, which I’d encourage you to go read, has this inspiring (!) quote:

The summary outlook, according to Howe, is that we are in the very early stages of a 20-year period of economic and institutional upheaval – an era denominated by a crisis during which we’ll likely witness the tearing down and reconstruction of many aspects of society as we know it.

My personal indicator – in the last couple of days I’ve had 3 approaches from people – “you play with the stock market don’t you – should I buy something now… what should I buy”.   Hmmmm…. people are thinking of parting with cash again, lets see how things go.  And no – I don’t suggest anyone to buy anything – thats up to them 😉

Now, off to work…