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Hey Crooze (or others),
If you can pull yourself away from you newly anointed "Rock Star" status from Rock of Ages, I was hoping you could comment on the technicals. Is it time for breather soon? What is the last line of defense before unimaginable levels of pps heavens are reached?
An uber long would like to know. Thanx and Health and Happiness,
Hemi
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Double top break , new target $107 per stockcharts as of the close today
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Well Efi, I have plenty of time since no one wants to talk to me..Rock of Ages is a bomb. A close over 76 should take us to the double top we have at 82 pretty quickly. Normally there should be a few tries and fails to get through the 82 level but once through it, we should run a minimum of 10-20% within 2 weeks. 8-16 dollars puts us in the 90-98 range.
L Ron Rules!
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Long ago I presented my view that the stock would rally to the high $70/low $80s area, challenging the all-time high in the $84 area and do some "work" there before breaking out and surging much higher.
The "much higher" was expected to be in the area of $130 to $140, after which I intended to sell a substantial portion, if not all, of my shares, to capture the inevitable pullback to retest the breakout.
Subject to changing that view at a moment's notice in response to triggering events, news announcements, etc. that is the current game plan.
trans effectively gave the same kind of version yesterday on the "Election Schedule" thread in his post #12225 without the price target and subsequent action I predicted.
For a different view, there was a small group (5 of us, I recollect) of AGM attendees who had lunch after the AGM. At that lunch, a very intelligent, non-posting, Grand Rapids stock broker (who will go unnamed) contended that the normal technical chart techniques do not apply to IOC given a lot of well-discussed factors. I recollect the main point of contention was the extent of the pull-back to retest the breakout. Since both of our views are just opinions of the future stock price actions and neither of us has the "proof" of our respective views, we'll have to await what actually happens.
Given what has happened the last few days, it appears as if the first step in my expectation is happening. If the stock consolidates in the present area, or goes a little higher (to the low $80s) before consolidating prior to a BIG breakout, my expectations will be realized. Timing-wise, with deal announcements coming sometime in the next few months, the length of consolidation could be just about what was expected.
We'll see.
In any event, I wouldn't try getting too cute in trading anything prior to the BIG BREAKOUT that really could come at any time, without my charting expectations being realized.
Connect the dots.
VS
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Technically, I believe we are going today to establish the outer bounds of the consolidation to take place over the next days/weeks.
So far, the pullback has been almost a perfect 38% Fibonacci value. Another couple of bucks pullback would take it to a 50% value -- another common pullback amount.
That would be enough for a "strong" stock -- and given what we think is coming, IOC should qualify.
VS
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To that end, Sleuth, Phil said he didn't know if it was going to be 2 weeks or 2 months for the data from the lower chamber in T-2 to be available. There exists a pretty good chance that will reveal a major condensate pool. Such an announcement might not be so much a catalyst as a huge new source of wealth. Not something I'd be comfortable betting against in the near term.
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Art,
You make a good point and raise an interesting question.
Which will come first: T-2 test results on the lower chamber or the deal(s) announcement with government approval?
There'll be an earnings CC in mid-August, just about the earliest time we're likely to get a deal(s) announcement. There may be a lot to discuss at that time.
I don't think anybody posting here is "betting against" IOC in the near term. There may be some short-term trading going on, however, by at least someone I know, who sold some yesterday and re-purchased and added today.
VS
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VS, given the fact that pps had finished at or near the day highs for several days on this run up then clearly was not going to do that yesterday, and the fact that there was a lot of "noise" from the bonk and Eric camp, I sold about 1/2 of my holdings yesterday around 72. Today I bought back in on way down at 69, 68, then 67. Correction was due and may as well play it. LT, no worries.
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Palm,
Now I know two who sold some yesterday and repurchased today.
Neither one of us wanted to be out for very long. Today was a gift.
VS
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A nice gift. Another poster here says about this stock; it drives you nuts to be in it, but the same when you are out.
Very much that way for me. Expecting nothing but good LT it ate at me being out and happy to be back in. It'll all be worth it though.
