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 Strategies & Market Trends | Strictly ..... Bottom Fishing

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From: chowder4/8/2007 9:30:24 AM
   of 489
 
ASTM is on the verge of breaking out into the next leg up.

We have a situation where the 20 week moving average is now above the 40 week moving average, confirming a change in the character of the trend.

Price is working though the overhead supply created back in February and March. This should resolve itself to the upside.

I would expect price to rise to the next level of overhead supply, shaded in peach. This presents a nice 25% profit from the current price level.

Stop should be placed just under $1.40.


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From: CommanderCricket4/8/2007 9:45:19 AM
   of 489
 
Dabum,

Is BMD still on your watch list? I did not take the trade above $3.25 but watching it.

stockcharts.com 

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To: chowder who wrote (11)4/8/2007 10:09:50 AM
From: bumblin bob   of 489
 
ATAR has had a nice move off of it's recent low and would consider buying if it gets above $4 on Monday. My profit target would be $4.50.
Any thoughts?

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From: Davy Crockett4/8/2007 12:14:46 PM
   of 489
 
Thanks Dubum for setting up this thread, I would like to bring this post over here.
Message 23422061

4/2/2007 1:15:36 PM
Hi dabum,

I bought a laggard today in CLS @ $6.30. I am looking to fill the gap by the sudden collapse of CLS at the end of January this year.

I use a couple of indicators, but most of my reasons for buying are related to price + volume. (FWIW, moneyflow suggests stock is under accumulation, but I have no way to verify that)If the trade reverses on me, hopefully I will be out on the 52 week low ($5.78). Which means I will be risking a loss of 8% for a gain of roughly 23%
daily

monthly

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To: CommanderCricket who wrote (12)4/8/2007 1:32:29 PM
From: chowder   of 489
 
The BMD trade triggered.

For those who didn't see the original analysis, it was posted here.

Message 23398469


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To: bumblin bob who wrote (13)4/8/2007 1:44:39 PM
From: chowder   of 489
 
Re: ATAR ... I like your strategy.

I would sell 1/2 of the position at $4.50 if you still want to stay in the trade. There is an awful lot of overhead supply from $4.50 to $6.00 waiting to come to market. Those people are really feeling some pain as every single one of them is losing a sizable percentage on their position. They are going to want to sell and get out even if they can.

It might take a while to work through that overhead base.


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From: Cosmic Cowboy4/8/2007 4:45:31 PM
   of 489
 
Good call on starting a new thread like this one...any thoughts on DESC? TIA

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To: Jerome who wrote (5)4/8/2007 5:00:57 PM
From: JD   of 489
 
Jerome,

I have been watching MU and AMD close myself, however I think AMD might be getting close to or at the bottom, MU I think has rough road ahead, as a matter of fact Last week when it got to 12 I shorted this stock. Friday was a big drop on huge volume not what you want to see in a bottom...

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To: Cosmic Cowboy who wrote (17)4/8/2007 5:06:57 PM
From: chowder   of 489
 
DESC is still working on a Stage 1 base. I'm unable to determine how long this base will take to before entering a Stage 2 uptrend. The longer it takes, the stronger it will serve as support once price breaks out of it.

Price needs to rise above the trend line, about $1.80, to present a low risk entry that has a high probability of success.

So far, we aren't seeing any significant buying volume. This one is still cooking.


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To: JD who wrote (18)4/8/2007 5:27:48 PM
From: JD   of 489
 
Let me correct myself, Friday the market was closed, Thursday was the sell off on huge volume.

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