JoeGrossinger
165 posts
msg #29620
- Ignore JoeGrossinger |
11/3/2003 7:46:41 AM
PTRS closed at .22 - down 25.42% for the day and down 42.11% for the week.
This stock has crashed by every definition of that concept but I am not buying at this point. I do find this chart interesting because:
1. Down volume for Friday was not a record high even though the close was a record low.
2. Weekly RSI(2) is at 3.5 - nimble traders can profit from this.
3. On the daily chart RSI(5) has NOT set a record low even though the price has but the RSI(14) did set a new low.
This stock comes with a mixed bag of indicators that is just too fresh for me to take the plunge. I will watch this stock and may take interest later as the bottom formation takes shape IF it takes shape. Sometimes stocks make a V and those are hard to catch. I generally pass on Vs because I tend to err on the side of caution.
I do believe nimble traders can make a buck or two this week trading PTRS.
I will keep an eye on it and see how it develops.
|
JoeGrossinger
165 posts
msg #29968
- Ignore JoeGrossinger |
11/20/2003 12:32:12 PM
Looks like it might finally have hit bottom at .16
|
EWZuber
1,373 posts
msg #29974
- Ignore EWZuber |
11/20/2003 5:57:21 PM
Joe, technically this one is extremely oversold on all stochastic timings. Its the continued financial losses that have been driving the stock price lower since Sept.2002.
Big selling volume today. So it looks like there are still sellers out there.
Maybe some short term capitulation.
I suspect PTRS will eventually go to $zero.
Trendline resistance starts from a line drawn from 10/9 at $0.91 across the high of 11/11 at $0.36 and ends up in present time at about $0.19 ( & falling ).
Looking at this line you can see that yesterday this line held the stock back from further gains and today at the open the stock bounced down from Trendline Resistance and tested the 52 week low @ ~ $0.15.
Good luck
|
JoeGrossinger
165 posts
msg #29987
- Ignore JoeGrossinger |
11/21/2003 11:34:31 AM
This stock is easy to play because you can buy it when its grossly oversold and sell it when it's just a tad overbought for a 15% to 20% pop in a week.
It might go to hell in a handbasket but there is no reason it can't be traded in an orderly fashion all the way down.
|
TheRumpledOne
6,411 posts
msg #29992
- Ignore TheRumpledOne |
11/21/2003 3:23:23 PM
PTRS...
Looks good except.... LOW VOLUME!
I sure wouldn't want to be holding 100,000 shares + and be wanting to sell!!
Couldn't dump them quick enough!!
But if all you are holding is 5,000 then that's different.
|
txtrapper
548 posts
msg #29995
- Ignore txtrapper |
11/21/2003 8:01:13 PM
Joe, I see PTRS jumped 29.94% today. Good Pick! Sure wish I would have been holding 100,000 shares.
tx
|