RE: RE: RE: RE: RE: RE: Technical Update "I look at T/A but am not a big believer, IMO alot of it is just coincidences."
I admit that luck plays a factor in the execution portion of trading and investing. An example being you are unlucky to have a buy order at 2.80 and say the stock dips temporarily to as low as 2.81 and rebounds hard from there leaving you unfilled or the opposite being lucky to have a buy order at 3 and the stock gaps open down to 2.50 only to rebound back to 3 in mere minutes.
I have been actively following Timmins early spring 2012 when it began declining to mid-2's from its last high around 3.50. If you review my posts on this board since then I have been fairly accurate in most (not all) of my technical anaylsys of this stock. Most of it is based primarily on T/A with a slight bit of fundamentals to guage general investor sentiment and momentum in company operations. Some of these "calls" include waiting for sp to dip well below $2 when others were backing up the track around 2.30-2.50 after falling from 3.50 before the spring 2012 junior meltdown, encouraging actively trading it between 1.60 to 2.00 instead of merely holding it since sideways consolidation would occur for several months, and upon breaking out to $2.20 to stop flipping for pennies since it would gun for 2.80-3.00 on a big run. Biggest error, if you can even call it that, was disposing of all traders by 3.10 and it ran up to 3.50. But I also stated to not chase the stock above 3 since 3.50 was previously a very strong resistance level, while others on this board were buying and posting about $5+ dream targets.
And you know that most recently I indicated that the sp was potentially forming a dangerous topping head and shoulder pattern and that was even BEFORE the head was even completed when the sp at 3+! I don't have a crystal ball and I also do not pull numbers out of the air or from my back pocket. But I would think the accumulation of the above should be attributed to more than mere "coincidences". Hence a level of respect should be considered for T/A. Because if company fundamentals have not changed much during past ten months and gold traded mostly within a $200-$250/oz window not affecting profit margins significantly, then fundamentals alone cannot explain sp moves from 3.50 to 1.50 and back to 3.50 and etc.