txtrapper
548 posts
msg #30485
- Ignore txtrapper |
1/5/2004 7:12:44 PM
CENTURION GOLD (OTC BB:CGHI.OB)
Last Trade: 2.75
Trade Time: 4:00PM ET
Change: 0.60 (27.91%)
Prev Close: 2.15
Open: 2.10
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petrolpeter
439 posts
msg #30488
- Ignore petrolpeter |
1/6/2004 9:29:43 AM
Hi Tax,Did you play CGHI or giving it a shot on day 2?Anyway there was opportunity on day 1:ERSY
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txtrapper
548 posts
msg #30489
- Ignore txtrapper |
1/6/2004 10:24:22 AM
petrolpeter
I did not buy CGHI but it's up again today @ $2.85.. 9:23AM Central Time, wish I would have, but I'm full invested.
I'm holding SCO and USTT right now.
TxTrapper
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petrolpeter
439 posts
msg #30490
- Ignore petrolpeter |
1/6/2004 11:08:16 AM
SVNT looks intersting off this srceen 1 day ago.Tested that chart type reciently on CTIC.I like to call it a "basket of green bars",and entered CTIC in my watch at 8.40,did well,SVNT loos similar.
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txtrapper
548 posts
msg #30491
- Ignore txtrapper |
1/6/2004 1:44:11 PM
petrolpeter
Both are excellent picks, SVNT has power, and is getting ready to ride the upper BB.
CTIC is prime for a move to $10.00.
Both are above 10d/30m resistance too, you are an excellent stock picker in my opinion. I would buy them both.
TxTrapper
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EWZuber
1,373 posts
msg #30492
- Ignore EWZuber |
1/6/2004 7:23:29 PM
Just my 2 Cents.
Both these stocks, SVNT & CTIC, if they do rise will be rising out of oversold weakness rather than out of strength. This is OK but I suspect that more money can usually be made on stocks that are above most resistance and overhead supply and heading for new highs.
SVNT gapped down on earnings that underperformed the same qtr. last year and on big volume, 4.7X ADV.
SVNT has the 25 DMA below it now for support but needs to flatten out. The 50 DMA is resistance just above it at $5.05. This bears watching particularly since SVNT is slightly overbought on daily charts @ 74.
Should the stock break the 50 DMA it will likely encounter heavy resistance at the bottom of the gap @ $5.30.
SVNT did manage to break a Resistance Trendline that has formed since the gap down which, IMO, is the main basis for a long position here, IMO.
Just for a different perspective, the premo entry was when the 3 year Resistance trendline was broken on 4/2/03.
This is where Monthly chart screens would come in very handy on SF.
SVNT gained about 150% from that Res. TL break before it broke the Supporting Trendline on 11/10/03.
CTIC may go on to produce some gains as it has managed to break a 3 month Resistance Trendline. This attracted some attention which enabled it to gap above the 50 DMA on increasing ( but not particularly high ) volume.
One thing I would note is that on the Weekly chart CTIC is slightly overbought and so far is forming a Doji Star pattern with the 25 Week MA as resistance and the 50 Week MA as support. If CTIC can not close the week above about $10.25 then an Evening Star pattern could develop. On Weekly charts buying volume has been low this accumulation phase, indicative of a move out of oversold weakness not strength.
Earnings have been dismal which has brought about a 3 year downtrend.
However that said, one very big thing in your favor is that the Monthly chart stochastics fast & slow lines have completely converged and indicate a high probability that a long term accumulation phase could be beginning. This could easily drive this one to test a 7 month Resistance Trendline at about $11.90 ( & falling ). CTIC is also struggling to stay above a 17 Month Supporting TL.
JMHO
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txtrapper
548 posts
msg #30493
- Ignore txtrapper |
1/6/2004 9:02:54 PM
My picks for tomorrow, Wed. 1/6/2004
HOMS..$4.48 Buy on Green..if it starts up it's good to $4.75 or maybe $5.00.
$5 Muddy's magic number.
ELP...$4.71 Watch this one, Buy in a dip "only" $4.60 area, resistance around $4.80.
BVEW...$3.48...I am going to buy this one if it goes "Green".
Wednesday is turn around day.
TxTrapper
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petrolpeter
439 posts
msg #30498
- Ignore petrolpeter |
1/7/2004 2:24:43 PM
Trendlines,teacher what are trendlines?(just kidding)CTIC trade is over going as high as 16%.taking SVNT off list ,SF charts show volume bars green while Bigcharts and others show same bars as red!?Trendlines don't usually look so hot for bottom fish sceens like this but I look for a baseline I can draw like doublebottom or a common base price,look at AQA,LTRX,NUVO,and NSIT,reasonable base entry points.Just the nature of this particular sreen.
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txtrapper
548 posts
msg #30500
- Ignore txtrapper |
1/7/2004 4:06:29 PM
petrolpeter
CTIC up $.12 today excellent pick.
Tx
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EWZuber
1,373 posts
msg #30503
- Ignore EWZuber |
1/7/2004 6:28:20 PM
'Excellent' may be a bit premature, IMO. CTIC gapped down this morning to the 17 Month Supporting trendline and gained on relatively low volume, 0.7X of ADV. All gains were in the last 15 minutes of the session.
It's very important that CTIC closed above this long term TL ( I suspect this is the reason for the 'painting of the tape' at the end of the session ) but still needs to close above $10.25 Friday. I would view todays move as a bounce more than a move out of strength.
I suspect tomorrows action will indicate the near term direction of this one. There is a descending price channel CTIC has been moving in. Will it drop back into this channel tomorrow or keep moving higher?
I was hoping to get a response that explained the reason for the pick.
Curious if anyone bought this stock? If so at what price and what was the buy signal?
I see a trade at $9.57 at the break of a 3 day Resistance TL on the 5 minute chart. But, IMO, there is a fairly high risk associated with holding it overnight since the gains were on such a small percentage of the days overall volume, only about 50K shares or so.
With Monthly stochastics moving into an accumulation phase there could very well be some gains to be made over the longer term but it could take a while to realize them.
BTW, this is not a personal thing for me.
If your or my methodology is being challenged consider it an opportunity. It offers the opportunity for everyone involved to further clarify the methodology for themselves as well as others and costs nothing.
We can let the market challenge our methodology but that can be costly if it has flaws we havn't nailed down yet.
If your methodology is perfect there is nothing to be gained by challenging it.
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