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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EWZuber
1,373 posts
msg #30079
- Ignore EWZuber |
11/29/2003 5:30:19 PM
txtrapper
The Weekly chart stochastics wrere taken fully into account before taking the position.
The Daily chart cycle is leading the Weekly chart cycle by about 10 sessions. Weekly chart cycle is oversold and showing a large divergence, which almost always precedes a convergence of the fast and slow lines and finally a +xover.
I suspect that on Monday when the Weekly chart indicators are updated, the chart will show a considerable convergence of the fast and slow line. No need to wait for this confirmation though.
It is the phase relationship between the different stochastic periodicities that must be analyzed.
The easiest to see and understand is the Weekly and Daily aligned perfectly in phase with eachother.
More complex relationships exist between the cycle periodicities as the cycles are out of phase to varying degrees, but are never the less equally as important and useful in finding an entry.
This could actually be the big move for the stock, testing the 52 week high.
I won't be able to tell until this Weekly cycle is further advanced and see how it affects the longer term Monthly chart cycle.
If WSTL breaks about $9 this should bring about a Fast line Slow line convergence on Monthly charts.
If the Monthly chart cycle crosses into accumulation then I suspect that WSTL will break out to new highs. JMHO
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EWZuber
1,373 posts
msg #30100
- Ignore EWZuber |
12/2/2003 11:41:52 AM
Looks like MEM may be about to make a move.
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EWZuber
1,373 posts
msg #30105
- Ignore EWZuber |
12/3/2003 10:02:14 AM
Looks like TRAC may be ready to make a move. JMHO
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EWZuber
1,373 posts
msg #30124
- Ignore EWZuber |
12/4/2003 4:24:45 AM
Bought some TRAC at the Ask @ $1.50 trying to push it through resistance. It's down just a tad and the chart pattern is getting down to the wire.
It appears that money is flowing out of the laggards now and many of these low priced stocks are not getting the attention they were.
MEM hit up against resistance and having trouble here.
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