EWZuber
1,373 posts
msg #30029
- Ignore EWZuber |
11/25/2003 2:26:42 PM
Looks like DGIT may be showing signs of moving out of a short term base. Picked up a few at $1.88 after short term trendline resistance was broken. Stochastics on hourly chart confirm the break.
BDE never got off the ground. Earnings were announced and the stock cratered. The stock temporarily broke resistance trendline at $0.46 on 11/21 but the ask sizes were huge and soon the new supporting trendline was broken AT $0.48 which would have been a sell signal if one did enter at the break or resistance. This also offered an exit in the money.
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EWZuber
1,373 posts
msg #30041
- Ignore EWZuber |
11/26/2003 1:19:47 PM
Closed DGIT @ $1.87. The stock has hit up against trendline resistance on daily charts and bounced down. Suspect there may be considerable more upside potential so keeping an eye on it.
Been watching the wedge pattern on GOAM very closely for several days. Got called away from the computer for a couple hours and of course the stock broke trendline resistance this morning and shot up +18%.
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EWZuber
1,373 posts
msg #30042
- Ignore EWZuber |
11/26/2003 3:46:17 PM
WSTL looks like it may be getting close to a bottom.
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EWZuber
1,373 posts
msg #30043
- Ignore EWZuber |
11/26/2003 4:23:29 PM
Looks like a bounce up off the 200 DMA. Picked up some @ $7.15. Not the best price. Missed the intraday low by 8C but that will do.
The stock broke a short term resistance trendline at about 3:34 @ $7.11. Then went on to retest the 200 DMA @ about $7.07.
Volume came into the stock minutes later. So far looks ok. JMHO
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txtrapper
548 posts
msg #30044
- Ignore txtrapper |
11/26/2003 8:14:49 PM
EWZuber
Did you notice that WSTL is still in a distrubion phase 1yr/w? But it is about to bottom RSI(2). However, it may go down to $7.00 before bouncing 3mos/d. Zuber, try plugging in StochRSI(8)and as soon as it starts up is the best time to buy WSTL I am sure you saw the 1 year distrubition phase because you talk about it often, of course I hope your right as rain and make a lot on the stock. One thing good is the declining selling volume, that's what I use as an indicator for myself.
tx
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EWZuber
1,373 posts
msg #30051
- Ignore EWZuber |
11/27/2003 12:45:12 AM
txtrapper
Yes I saw that Weekly chart is still in distribution but it is oversold and could have a fast line / slow line convergence soon. When the stock becomes sufficiently oversold often times there will be a maximum of divergence just before the convergence begins . Thats what we're seeing now, I suspect. I this case I'm looking for the Daily chart to respond first and drive the Weekly to converge and then cross over.
I saw the stock drop to $7.08 and bounce up quickly, indicating an absence of sellers and a willingness for buyers to step in. Then there was a short term trendline break on the 5 minute chart while the fast line on the hourly chart was starting to converge with the slow line so I took it.
So far I like the action and the position is up just a tad.
The closing volume was bullish and the best volume of the day.
Guess we'll see.
The position is close enough to support where losses would be small if I were forced out.
It is an aggressive entry for sure and ahead of any sign of a turnaround on the daily chart, but it's a wild stock and may not spend much time near the 200 DMA.
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EWZuber
1,373 posts
msg #30052
- Ignore EWZuber |
11/27/2003 12:47:31 AM
Also if the next session is an up day for WSTL it will form a Morning Star Doji
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EWZuber
1,373 posts
msg #30058
- Ignore EWZuber |
11/28/2003 11:21:25 AM
Someone is sitting with auto execute at $7.30 ~ $7.32 for some time so sold at $7.29 which was just below the current Ask and below a break in the trendline on the 5 minute chart.
Waiting for a break of resistance to re-enter or a descending trendline to form and break.
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EWZuber
1,373 posts
msg #30061
- Ignore EWZuber |
11/28/2003 1:58:04 PM
After a nap got back in at $7.35 on a break of Trendline resistance, but hardly got any shares cause the money is not settled again. Just don't have the means to do this right.
Bummer.
Anyhow glad to see that the original call worked. Looks like today will complete the Morning Star pattern. If WSTL continues in this direction it should bring about that Stochastic Fast line Cross above the Slow line on the Weekly chart and a good long period of accumulation. In this case the Daily chart cycle was just a tad out of phase with Weekly and leading it by a few days. This caused the Daily chart cycle to stay in distribution a bit longer until support was tested at the 200DMA. Suspected WSTL was ready to move and probably will go much higher now that I am stuck till Monday.
Fortunately WSTL is looking overbought on the hourly chart which might help to hold it down a bit. This is a highly volatile stock though and sometimes it just keeps on going.
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txtrapper
548 posts
msg #30067
- Ignore txtrapper |
11/28/2003 3:50:29 PM
WSTL has all her duckies in a row right now! 1y/d stochastic, don't look at the 1y/w it will scare you off. StochRSI(8)at 1 and thats a good thing too. QStick(14) increasing and approaching the 0 line. My indicators say "Buy".
Looks good.
tx
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