EWZuber
1,373 posts
msg #30848
- Ignore EWZuber |
1/27/2004 4:30:09 PM
IPI took off today. Up 11%. Unfortunately didn't have the capitol to get involved at the time.
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EWZuber
1,373 posts
msg #30864
- Ignore EWZuber |
1/28/2004 2:53:48 AM
GLGS...Looks prime for a move higher. It closed dead on short term support and above TL Res. on Daily chart.
Half hour chart shows a new short term wedge pattern formed after the initial breakout above Daily chart TL Res.
This one has been an excellent trading stock, IMO.
DIGL...Has been on fire. Volume going through the roof. Almost oversold on half hour chart and sitting right on TL Support. Looks like there might be a day trade here.
The SEC has decided to put pressure on to stop naked short selling. From what I have heard this has been a problem primarily with penny stocks and low priced stocks.
Running a momentum screen using RSI,
RSI(15) is above 75 and RSI(15) is below 95 and price is between .5 and 15 and Average Volume(10)is above 100,000 and Volume is above 100,000 and where Weekly Slow Stochastic(5,3) Fast %K crossed above Weekly Slow Stochastic(5,3) Slow %D within the last 2 Weeks and chart-display is weekly.
I found tonight that the screen returned several low priced stocks with huge volume and extremely bullish charts in the short term. Wish I had been checking this one more regularly.
For purposes of finding short covering ( if that is what is happening ) the screen could be better customized, maybe looking for volume and price moves.
The remarkable thing is that most of these are OTCBB stocks, where the problem was supposed to be the worst, and all the charts start to rally at exactly the same time and look unusually similar.
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txtrapper
548 posts
msg #30866
- Ignore txtrapper |
1/28/2004 8:05:06 AM
Zuber...
GLGS...is in a tight BB squeeze at this time, and volume is poor, the MA30 is moving down (downtrend), I just don't see what you see there, take a look at the stock on a 20d/30min chart to see what I'm seeing.
DIGL...looks like it may bounce off the EMA(9) good volume and in an uptrend at this time, DIGL is also in a Stan Weinsteins Phase II breakout take a look at the stock on a 2y/d chart to see what I'm seeing.
TxTrapper
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EWZuber
1,373 posts
msg #30869
- Ignore EWZuber |
1/28/2004 12:18:41 PM
TxTrapper
GLGS...Weekly chart Stochastics are rising and the 25 Wk.MA has been tested as support at $1.36 and bounced up ( formed a doji often indicating a bottom ). This 25 Wk.MA has been very good support for GLGS and I would have rather picked it up at support.
50 DMA is flat, 25 DMA is rising. The stock is trading between the two right now acting as support & resistance.
Daily chart stochastics fast line has converged completely with the slow line indicating an accumulation phase is likely beginning.
A 4 day Resistance Trendline was broken yesterday and the Hourly chart was oversold and sitting on support at the close yesterday.
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EWZuber
1,373 posts
msg #30870
- Ignore EWZuber |
1/28/2004 1:43:52 PM
GLGS...closing this mornings gap. 30 Min. chart stochastics +xover. JMHO
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petrolpeter
439 posts
msg #30871
- Ignore petrolpeter |
1/28/2004 2:18:33 PM
Hi TXT and Zube Put KRY on watch at 2.51 yesterday looking for it to 'hold the line'.TXT, you mentioned DIGL,did you see VITX,spotted it on the same momentum screen as DIGL and look at the nice follow through today,did not spot early enough,once again making me a spectator.
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EWZuber
1,373 posts
msg #30872
- Ignore EWZuber |
1/28/2004 3:27:36 PM
Market has gotten downright ugly. I closed everything.
GLGS broke trendline support at the bottom of a wedge pattern @ $1.38 & closed it immediately.
My index streamer has 16 indexes, all are red except the SOX today which is up fractionally.
In 2 hours the HUI ( Gold Bug Index ) dropped $10.
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txtrapper
548 posts
msg #30874
- Ignore txtrapper |
1/28/2004 6:24:41 PM
Zuber
GLGS....$1.34...broke $1.36 support read by 25 Wk.MA, steady downtrend all day. It may bounce @ $1.32, I read support @ $1.29, I determine support by looking at the 15 day MA. Let's see what happens here.
TxTrapper
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txtrapper
548 posts
msg #30875
- Ignore txtrapper |
1/28/2004 6:35:28 PM
petrolpeter
KRY...sitting on the LBB on a 20d/30m chart, may pop tomorrow, wait for green.
DIGL...bounced off the WMA(30)today up +.10.
VITX...yea, increased volume, bounced after two down days up +.30
TxTrapper
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EWZuber
1,373 posts
msg #30879
- Ignore EWZuber |
1/28/2004 10:26:35 PM
txtrapper
Different view of GLGS action here.
The stock formed a wedge pattern ( 30 Min. 5 day chart ) starting with the high formed on 1/22 at 3:30 @ $1.52 across the high on 1/27 at 11:00 @ $1.46 and the high this morning at $1.44.
The bottom of the wedge started at the low of 1/23 at 9:30 @ $1.33 to the low of 1/27 at 3:30 @ $1.37.
At the open GLGS broke a short term resistance trendline at $1.39 and moved higher to test resistance at the top of the wedge pattern at $1.44. Resistance held as GLGS bounced down and then traded slightly lower and sideways until 1:00.
At 1:30 the mornings gap up was closed @ $1.39. GLGS bounced up from here to $1.41.
At 2:20 NASDAQ fell off a cliff and GLGS went down with it.
The supporting TL was at $1.39 late in todays session when it was violated. At this point I decided to bail because primary short term support was being violated.
GLGS is extremely oversold on hourly chart now and may offer another entry but I will wait for a Res. TL break before entering.
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