EWZuber
1,373 posts
msg #58351
- Ignore EWZuber |
12/20/2007 5:04:32 PM
The close this week also gave the Weekly Chart a mildly bullish Hammer candlestick that bounced up off the 50 WK.MA.
Resistance at the 25 WK>MA needs to be takn out at 2650.
No wonder there is some congestion on the Daily Chart at that point.
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EWZuber
1,373 posts
msg #58353
- Ignore EWZuber
modified |
12/20/2007 5:24:21 PM
Took an initial new position in SOLF at the close at $25.30. Picked it up as it broke TLR within a very small consolidation pattern on the 5 minute chart.
The pattern is unresolved as of the close.
Closed up against pattern resistance and the 5m/50MA
On the Hourly Chart SOLF is moving within a very tight channel between the 25 & 50 HR.MAs. and stochastics are attempting a new accumulation phase but to confirm there needs to be a confirmation of pattern resistance as support.
That said, the bullish Dragon Fly Doji on the Hourly Chart as it bounced up off the 25 HR.MA is encouraging.
I like to get into these as they break the pattern TLR of a ST distribution phase that forms a ST bottoming pattern. I think its often better than buying the breakout because if the entry is made within the bottom part of the pattern,then should the breakout fail you'll have a bit of a cushon to mitigate any losses.
IMO
Ideal entry was about $25.24.
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EWZuber
1,373 posts
msg #58378
- Ignore EWZuber |
12/21/2007 9:58:42 AM
Sold SOLF $26.90
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johnpaulca
12,036 posts
msg #58379
- Ignore johnpaulca |
12/21/2007 10:15:42 AM
Zub...did you mean 25.90??? I have a high of 26.40....nice trade anyway.
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EWZuber
1,373 posts
msg #58381
- Ignore EWZuber |
12/21/2007 10:29:25 AM
Yes, thats a typo.
Waiting just a bit to see what the COMP does here.
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EWZuber
1,373 posts
msg #58382
- Ignore EWZuber |
12/21/2007 10:30:36 AM
The tricky part was making the trade without using up a day trade.
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EWZuber
1,373 posts
msg #58396
- Ignore EWZuber
modified |
12/21/2007 4:09:34 PM
Would have loved to jump back into SOLF but had business away from home that was unavoidable.
Entered ENER just before the close at $34.67.
This is not a premo set up by any means. Stochastics are far from offering a buy signal but as long as the 25 HR.MA holds as support I'll hold on to it. It seems they were defending that level quite strongly.
Just trying to get a half way decent entry and avoid a day trade.
Also bought a little bit of XSNX as it is testing support at its 50 HR.MA at $0.39 in an oversold condition. Usually don't deal with these penny stocks but this looks compelling, IMO.
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EWZuber
1,373 posts
msg #58435
- Ignore EWZuber |
12/22/2007 5:09:57 PM
A very bullish Hammer Candlestick for the COMP Weekly Chart. Closing the EoW above pattern support, breaking the 25 WK.MA as resistance and quickly approaching resistance of the Double Bottom pattern that can be seen on Daily and Weekly Charts.
Little did I realize back on 12/18 when I posted this that it would indeed gap to the 25 DMA;
"...Williams%R indicator is looking like we get a bit more upside at some point tomorrow. Possibly a gap up.
In order for the COMP to break the 50 DMA I suspect it would have to gap to or above the 25 DMA at 2640, which doesn't seem likely..."
That opened the door to a possible retest of the old 52 week high. I suspect that first before moving significantly higher from here, either the 10, 15 or 25 DMAs will need to be tested as support.
I suspect the 50 DMA will be violated as resistance after a consolidation pattern forms on the Hourly Chart.
IMO
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johnpaulca
12,036 posts
msg #58444
- Ignore johnpaulca |
12/23/2007 12:22:55 PM
Zub...these are two penny stocks that came up in my BOOYA scan: cgld, sqnm. They should open higher monday. I don't do pennies, but still like to look at them.
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EWZuber
1,373 posts
msg #58447
- Ignore EWZuber |
12/23/2007 4:48:28 PM
johnpaulca, I agree, they both look good.
The only reason I'm trading XSNX is because its a solar upstart and that sector has been on fire. I suspect this one has huge upside potential.
Thanks for the heads up.
That gold stock, cgld, is interesting too because apparently it has just had it's first profitable quarter.
Those can be explosive as well if they can keep it up or improve earnings.
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