BEL - Spike calls a bottom.

[jiesen]

BEL update

http://biz.yahoo.com/bw/051223/20051223005145.html?.v=1

14400 tons treated, not bad. Shutdown for a month (routine), not too bad. Second plant will be tested for possibly coming online next year. Pretty good, just as long as they come up with the dirt. Show us the dirt, BEL!

Update Bennett Environmental
Friday December 23, 10:21 am ET

OAKVILLE, Ontario--(BUSINESS WIRE)--Dec. 23, 2005--Bennett Environmental Inc. (TSX:BEV - News; AMEX:BEL - News) announced today that during the final quarter of 2005 Recupere Sol Inc. ("RSI"), Saint Ambroise, Quebec, processed approximately 14,400 tonnes of material and has approximately 7500 tonnes of material in storage awaiting processing in Q1 of 2006.

Al Bulckaert, Bennett's President and CEO remarked that "he is pleased with the amount of production that took place at RSI in Q4". RSI is now taking a maintenance shutdown that will continue until the last week of January, 2006. During that time RSI will undertake routine maintenance that can only take place when the plant is not operating.

Bennett Belledune, which has 6,000 tonnes of contaminated material in storage, is still trying to obtain approximately 1,000 tonnes of contaminated material that is sufficiently contaminated with PAHs. This level of contamination is required so that the facility can undergo its rigorous compliance test. Further, the Company believes that by waiting until Spring 2006 the proposed costs of the compliance test will be reduced, as many of the input costs required for the compliance test will be better priced than are at the present time.

[billyjoe]

Spike,
BEL doesn't seem to want to drop below 3.00. Is this good technically? Do you think the maintenance shutdown from Jiesen's article has something to do with the price?

billyjoe

[spikefader]

Spike,
BEL doesn't seem to want to drop below 3.00. Is this good technically? Do you think the maintenance shutdown from Jiesen's article has something to do with the price?
billyjoe

What's good technically is that 2.90 support held. That's the significant thing. Today's move closes the little gap and gets over it, so now the gap is support at 3.00, but that's not the big one. The big one is 2.90. There is a distinct descending triangle on the 3-month chart and failure of 2.90 targets below 2.50, which of course is my line in the sand as far as long-term bottom. The fact is billyjoe, that it's coming down to the wire for BEL. All I know is you don't wanna be long if 2.90 breaks, and it'll 'slip' pretty quick from there imho.

[billyjoe]

Spike,
Thanks for the clear answer. And thanks for not criticizing my often dumb questions.

billyjoe

[spikefader]

Spike,
Thanks for the clear answer. And thanks for not criticizing my often dumb questions.

billyjoe

Sure, any time. And the only dumb question is the one that isn't asked.

[billyjoe]

Spike,
BEL is now the 2nd best stock I'm holding up 3+%.

billyjoe

[spikefader]

Spike,
BEL is now the 2nd best stock I'm holding up 3+%.
billyjoe

Great! May it shoot to the stars in 2006. Channel long yesterday, and it's starting to act just right....with a close now above an inside day from 12/23. I'm expecting above average volume to come in soon.

Good luck!

[Websman]

Great! May it shoot to the stars in 2006. Channel long yesterday, and it's starting to act just right....with a close now above an inside day from 12/23. I'm expecting above average volume to come in soon.

Good luck!

You're tempting me to get in.

[sisterwin2]

I did jump in with a small amount............ as always small amt.

[billyjoe]

Spike,
You are a genius and my hero , at least for today. Tomorrow you may be pond scum. BEL is off and running a penny at a time, may we never see under 3.00 again. Somebody has to clean up the crap produced by this world (me being exempt) why not BEL . Onward to double digits!


billyjoe

[New-born baby]

Spike,
You are a genius and my hero , at least for today. Tomorrow you may be pond scum. BEL is off and running a penny at a time, may we never see under 3.00 again. Somebody has to clean up the crap produced by this world (me being exempt) why not BEL . Onward to double digits!


billyjoe

BillyJoe,
If Spike turns into Pond Scum tomorrow, send BEL in to clean him up. The additional sales may help the stock price.

[spikefader]

BillyJoe,
If Spike turns into Pond Scum tomorrow, send BEL in to clean him up. The additional sales may help the stock price.

lolol And BEL trading at 3.18 on high volume day today....hmmm....
“Curiouser and curiouser!” Cried Alice

[Adam]

I'm finding this interesting becuase Environmental Waste Management is my business/job.

What are the trading objectives for those of you who are in. Whats the exit strategy and has the stock surpassed a fair buy in point?

[billyjoe]

Adam,
I've lost a very little twice on this one. Way back when it was over 20. Luckily a tight stop saved me . Again in 2005 it got me in a quck rise/fall from the 2.70- 3.15 range. This time, Spike has made a once in a decade (for him) declaration that this baby has bottomed out at 2.50 and as long as it doesn't go down to 2.90 it may be smooth sailing to unknown heights. Spike isn't known for dramatic predictions such as this and when he does, I'm listening. So I'm on autopilot unless we see 2.90. I think Spike would say "buy, buy, buy!, it's not too late". Right, Spike?

billyjoe

[spikefader]

I'm finding this interesting becuase Environmental Waste Management is my business/job.

What are the trading objectives for those of you who are in. Whats the exit strategy and has the stock surpassed a fair buy in point?

My objective: long-term hold. Gap fill the target, as mentioned in 1st post, with a stop to even as soon as it breaks out...

Has it surpassed a fair buy point? Well, what do you consider a 'fair' buy point? I look at it in terms of risk reward based on the bullishness of the chart. The first is measurable and planable, the second is interpretive of the charting. Some people would consider the current chart as still not good enough to trade. And that's OK. Perhaps confidence in the chart comes on a breakout, in which case there will be dozens of good r/r setups present themselves as you stalk it over the course of 2006. But whatever you do, you want to define what makes a play 'fair' to you and meets your objectives. If you don't like the TA I've presented, don't trade it. If you can't find the r/r that suits, don't trade it. If you can't handle the risk of slippage or gap downs or something terrible hammering the price down, don't trade it. That applies to every issue you are contemplating trading. I say all this cuz I feel that it's important in light of the bias and posting I'm doing for BEL.

So I would strongly recommend that you define fair in terms of risk and reward. Insist on a very healthy r/r ratio for your entry. Spot the support, the logical area to hide your stop under, and having done all DD and accepted the risk that you may lose money on it, execute that plan.

So where to buy if you do like it now? All ya gotta do is spot those support areas that hold or find those little quirky patterns that will give you those perfect entries and draw your line in the sand.

Me? I spot another opportunity tomorrow's intraday pivot. A 4% stop puts it under the gap support area, a 5% stop under the price support area as well. If you place your stop lower and introduce more risk, you better note that failure at 2.90 might lead to quite some slippage, meaning fast drop with little bidding until support lower down near the gap. So when you think about it, the current setup (tomorrow) from a slippage point of view is a good one, i.e. it's under support, but not under crucial support. Any slippage 'should' be minimal at 2.89. I say should cuz who knows for sure how many stops will be there too, and how big the holders are, and how much 'support' comes in after that failure.

But here's the chart: