EWZuber
1,373 posts
msg #31667
- Ignore EWZuber |
4/9/2004 9:52:03 PM
txtrapper
I would be interested in hearing a more detailed assessment, full stochastics look good to me.
Anyhow, here's what I see;
The 15, 25 & 50 WK.MAs are in uptrends on the weekly chart. So they can all serve as support and will not serve well as resistance, just as a MA will not serve well as support if it is in a downtrend.
The 25 & 50 DMAs are in a very slight downtrend and are still functioning as resistance. Thursday ANCC bounced down confirming the 25 DMA as resistance for now.
The selling volumeon the Weekly chart has declined quickly and looks good.
You can see that the week of 3/14 the stock attempted to bounce up off the 25 WK.MA but stochastics were still in distribution phase and had a good ways to go.
Selling volume went from 14 Mill. ( week of 3/21 ) to 7 Mill the following week then we got a bounce up off the 50 WK.MA. while stochastics are now oversold with %K & %D have almost completely converged.
This indicates that this is likely just the start of a longer term move higher ( accumulation phase ) and gives ANCC plenty of time to get the 25 & 50 DMAs in an uptrend on the Daily chart.
With an entry at $1.06, just 6C above the bottom, the upside potential is considerable. With the only resistance above the 50 DMA at $1.57 this offers a reasonable potential gain of 50% over the entry. If that resistance is broken then it could be much greater.
I like to try to get in at the bottom, it offers a greater level of safety.
JMHO
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EWZuber
1,373 posts
msg #31668
- Ignore EWZuber |
4/9/2004 10:37:33 PM
XYBR...also bounced up off the 15 Month MA. on Thurs. on huge volume. About 10X ADV.
MWAV...Looks prime for a bounce up off of the 25 DMA. Hourly chart shows a beautiful descending TL and looks like it may form a double bottom around $ 3 ~ $3.04. It closed right up against TL Res. Thurs. but is overbought on the 5 min. chart.
JMHO
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txtrapper
548 posts
msg #31669
- Ignore txtrapper |
4/10/2004 10:59:35 AM
Members;
I follow Stan Weinstein's Model closely for stock entry, here is an excerpt from his book "Secrets for Profiting in Bull and Bear Markets";
(Quote)
30-Week Moving Average
No trades may be entered if price is below the 30-week weighted moving average or if the moving average slopes downwards. (end of quote).
-----------------------
The 30-week MA seems to have an almost mystical forecasting ability, and this has been widely noted over the years and emphasized in the work of such legendary analysts as J.M Hurst, Weinstein and others.
ANCC is below the 30-week Moving Average at this time.
TxTrapper
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EWZuber
1,373 posts
msg #31692
- Ignore EWZuber |
4/12/2004 3:43:25 AM
cool, thanks for the reply.
I don't use the 30 WK. WMA and if memory serves me I havn't needed to.
Thursday ANCC broke above the 200 DMA and bounced down off the 100 DMA.
Guess we'll see soon enough if it makes more money. So far it's up 15% from the bottom and up 9.5% from my entry.
( Correction from previous post, latest entry on 4/2 at $1.05. )
Good fortune to all.
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EWZuber
1,373 posts
msg #31695
- Ignore EWZuber |
4/12/2004 4:45:04 PM
XYBR moved higher again today.
Missed the entry on POSO. Dang!
Anyone catch MACE today? It came up on a screen looking for 'oversold near 20 day highs' on Friday. Saw it this morning while up 20% but couldn't justify taking the risk that far above support. Same kind of situation with POSO.
GIGM moved nicely today. Don't think I posted this entry. Picked up a little last week at $1.46. Slept through the alarm this morning so missed selling into resistance at the cycle high of Jan. Since it is just starting to move into accumulation on the Monthly chart,i suspect there could be substantial gains to be realized with this one.
JMHO
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TheRumpledOne
6,529 posts
msg #31696
- Ignore TheRumpledOne |
4/12/2004 6:30:17 PM
Hey EWZuber:
Do you have a real time feed?
When you seen that kind of momentum, you just jump on for the ride!
MACE, come on man, just buy some and be prepared to trade the dang stock when it moves like that. By the time you "justify", the ship has sailed!
MAY ALL YOUR FILLS BE COMPLETE.
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wallman
299 posts
msg #31698
- Ignore wallman |
4/12/2004 8:46:23 PM
Zub,you'll see in my 3-18 post i got in MRKL at 1.28,now 3.94,i believe at the time you stated TL resistace to be 1.81,once by that it was a rocket,imo with pure momentum plays like this in a hot sector you can throw TL's out the window,if you're willing to take the risk just get in and ride if she's going up,ask no questions ......my friend and I are in MACE from under $4 this morning,the last thing we were concerned about at the time was TL's,i've held it overnight also,thinking its got more run left at the open,we'll see .....2 others i got into today off momo,MSGI,entered at 150% up watched it run to 310% and TBUS which i've been in and out of since 3.20 five days ago,now 14.07....i'm sure that you make TL's work fine for you,just the point here is that momo,especially in hot sectors overides TL almost everytime ...as always,good luck with your trades
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EWZuber
1,373 posts
msg #31700
- Ignore EWZuber |
4/13/2004 2:34:07 AM
I just don't have the resourceas to get involved. I would have had to close a position just to enter. And then by rule 2520 I would have had only one trade left allotted to me for the next 4 days. If I would have had to exit for any reason, I would be pushed out of the market for the rest of the week.
I am in calculated positions now. I could not justify dropping them to jump on a screamer.
The justification was not just about the technicals.
I'm glad that you guys were able to enjoy the ride, but I do not have the access to the markets that you do. I am very highly restricted so i must be very conservative and disciplined in my approach.
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EWZuber
1,373 posts
msg #31701
- Ignore EWZuber |
4/13/2004 2:41:12 AM
wallman
Even if I were going to risk entering a screamer, i would use Trendlines. The best way I have found to do this is on the 1 minute chart. When a stock is really hot often times this is the only time frame where any pullback occurs. The TL is then drawn on these small dips and bought on the breaks. A supporting TL is then established and a discipline can be applied to the trade. Its a daytrading technique that seems to apply perfectly to this sort of scenario.
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EWZuber
1,373 posts
msg #31708
- Ignore EWZuber |
4/13/2004 1:10:40 PM
CLNG took off today from 4/3 post. Up about +27%.
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