EWZuber
1,373 posts
msg #30676
- Ignore EWZuber |
1/16/2004 2:58:35 AM
Should have stuck to my discipline. Was made difficult by a hige spike on PMU chart rendered my intraday charts unusable.
The system would have gotten me out of PMU at $2.19 or a ( -1.6% ) loss. Got out of AGT for a 2.2% loss.
HUI ended the session just about dead on the 100 DMA. Tomorrow should indicate if support holds. JMHO
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EWZuber
1,373 posts
msg #30682
- Ignore EWZuber |
1/16/2004 12:34:18 PM
Picked up some EELN @ $3.10. It broke TL Resistance shortly after. So far looks ok.
EGHT trying to break TL Res. @ $5.25 also but ran into too much resistance and dropped back some but it looks like it will succeed soon.
JMHO
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EWZuber
1,373 posts
msg #30683
- Ignore EWZuber |
1/16/2004 12:50:40 PM
Picked up some EGHT @ $5.22 in anticipation of a break above TL Res.
If it fails then theres a bit of a cushion to bail with.
JMHO
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EWZuber
1,373 posts
msg #30685
- Ignore EWZuber |
1/16/2004 1:13:51 PM
EGHT at the bottom of the wedge right now @ $5.20 and is oversold at the bottom of the cycle on 5 min. chart.
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EWZuber
1,373 posts
msg #30688
- Ignore EWZuber |
1/16/2004 4:13:37 PM
Closed EELN for a small profit. Hourly chart cycle was moving into distribution and the short term supporting trendline was violated at $3.20.
Held onto EGHT because the horizontal line at the break of short term TL. support was not violated @ $5.18.
During this distribution phase on hourly chart EGHT pretty much went sideways which is what I like to see.
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txtrapper
548 posts
msg #30693
- Ignore txtrapper |
1/16/2004 9:53:26 PM
EWZuber
EGHT...Yes is should be going sideways, it's in a 3m/d BB squeeze.
EELN...It may drop to $3.12 -$3.15 range, then up, buying has dried up for the last 5 days, and selling has dried up in the last 3 days, it may bounce to the $3.30 range Tuesday.
TxTrapper
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EWZuber
1,373 posts
msg #30717
- Ignore EWZuber |
1/19/2004 12:41:27 AM
TxTrapper
I agree EELN could drop to ~ $3.13 and I suspect possibly as low at $3.09 at a 2 day Supporting TL.
16 Day Supporting TL is at ~ $3.03 but I suspect the market would have to be really bad to put that kind of pressure on it, short term. I like to write these numbers down, then if it gaps down in the morning I know where it is technically.
With EGHT I see two wedge patterns that have emerged on the Hourly chart over the past 4 days. The first on 1/13 which broke to the downside.
Then another 2 day wedge that is of yet undecided.
The two together form a third larger wedge + 1 add more day.
Not the precision entry that I wanted but it might do.
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EWZuber
1,373 posts
msg #30729
- Ignore EWZuber |
1/20/2004 11:45:15 AM
Picked up EELN again at $3.08. Just about dead on the TL support and oversold on intraday chart. So far it looks good.
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EWZuber
1,373 posts
msg #30742
- Ignore EWZuber |
1/21/2004 4:22:11 PM
Sold EELN @ $3.29 as it broke TL Support on the 5 minute chart. Looks like it's going higher.
Was looking at RFMD chart today, so much for trying to guess ( gamble ) the earnings report by the previous days trading.
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EWZuber
1,373 posts
msg #30745
- Ignore EWZuber |
1/22/2004 2:00:44 AM
Looks like EGHT is about ready to move higher. Looks like the strategy here was to drop the bottom out of the stock to stimulate some selling volume. This will tend to purge weak hands and allow big $$ the opportunity to grab more shares at a relatively low price.
Even with this tactic there wasn't much volume today.
I suspect that within the next 2 sessions this one will start to move higher. It may drop it to test the 50 DMA @ ~ $4.81 first.
IPI is one that bears watching, IMO. The monthly chart stochastics are starting a new accumulation phase. When Weekly and Daily align in phase with Monthly again in an oversold condition I suspect it will move aggressively higher. Earnings have been improving for several quarters now and because of this volume has been pouring into the stock for several months now. JMHO
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