[theory6453]

I see you mentioned the point and figure price target. This varies depending on the scale of the chart you are viewing, so don't rely on this until you have more experience with using point and figure charts, as for example if you used a percentage based chart based on it's recent average true range of roughly 6%, the point and figure price target would be 9.73, and if you used a 1% point and figure box size, the price target would be 10.05, as the traditional box size method is less useful when stocks get down into single digits, so I'd personally suggest using percentage based box sizes when looking at targets. And as I've said before you should use a logarithmic scale on your line charts to be able to see what is happening more clearly when a stock begins to base after a large decline.

Thanks Isa, for the feedback on the Marine Transpo group and P&F charts. ATR and P&F are still two concepts that I need to get more familiar with... but I am trying! I have a few follow-up questions that I will move over to the Beginners board so as not to take up more space here.

Cheers!

[goodtyneguy]

I don't why it is so, but a lot of the shippers pay big divis, GLBS has just reduced it's divi and comes in at about 13%!

There's a positive correlation between shipping stocks and commodities for obvious reasons. Take a look at Lean hogs and Cocoa, will post charts up if a get a chance later to day.

[isatrader]

As we are discussing the Marine Transportation sector in the US, I thought it would be good to have a look at the Industrial Transportation sector in the UK (NMX2770) as well, as we have a number of UK based investors on the site including myself. The sector chart has been in a strong Stage 2 advance since the beginning of 2013 and is currently near the the top of it's recent range.

Yields are good in this sector with yields up to 5.71%. For example below is the current yields of the attached charts from the sector and the Stages, and I've ordered by relative performance within the Stages:

Stage 2A
WIN.L - Wincanton: 0%
STOB.L - Stobart: 5.26%
BMS.L - Braemar Ship: 5.71%
ACMG.L - Acm Ship: 5.67%

Stage 2 / 2B
UKM.L - UK Mail Group: 2.99%
CKN.L - Clarkson: 2.56%
BBA.L - Bba Aviation: 2.94%
FSJ.L - Fisher(J)& Sons: 1.58%
DPW.L - DP World: 0%

[goodtyneguy]

Lean hogs and sugar broke out last Friday.

       

       

[isatrader]

Lean hogs and sugar broke out last Friday.

I still have Sugar in Stage 4B-, possibly 1A personally

[goodtyneguy]

Was also tempted by Cocoa with it's nice "W" bottom formation but the higher near term resistance level did n't offer a good enough R2R. I think the nearest resistance level is just about blown through so may not be much of a hindrance.

       

One to keep on the watchlist for a close above the higher resistance level though.

[FXTrader]

Lean hogs and sugar broke out last Friday.

I have been watching Sugar closely.......

In Play Head and shoulders........looking to push back up toward the neckline, Nice volume Friday on the right shoulder.

Also broke through and closed above a cluster of major and minor horizontal support levels on the daily.

cheers

[isatrader]

Was also tempted by Cocoa with it's nice "W" bottom formation but the higher near term resistance level did n't offer a good enough R2R. I think the nearest resistance level is just about blown through so may not be much of a hindrance.

It's cleared the weekly ichimuko cloud, so suggests the resistance is old enough to only be a technical level to watch.

NIB is an ETN to trade it on the US market, and at current levels would give around 3.5x ATR risk to stop loss, so a pullback entry might be a better option to get a better stop distance imo. I've also attached a 2% box size PnF chart with the price by volume on so you can see the strength of the resistance, which it's looks to have cleared the bulk of which came in below 33 on NIB.