Registered User
Joined: 3/21/2006
Posts: 4,308
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BOP has been steady even though it has been in a down trend all year. All my indicators are starting to turn slightly up on what appears to be the bottom. A good buy area would be if it goes above $3.70
This is worth keeping an eye on, (would like to hear from Tobydad & Kokoda on this one)
Apsll..
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Registered User
Joined: 10/7/2004
Posts: 2,181
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apsll
It's a little too early based on my trading style (that coming from the same idiot that keeps harping about AVNR!)Seriously though, I'd like to see more support from the lower 20-day bollinger band. If price moves sideways for a few days we may have something.
The way I, personally, would trade this, were I to get in, would be my usual placing buy stops above each days high (after the close). I would consider this with DSTI because of what I would consider a strong buy signal at the end of Nov. I'm adding it to my watchlist. It obviously has strong potential; I just think it's a few days out.
As far as a trade today, a jump up wouldn't surprise me even if nothing more than a sympathy move (MAMA and IFON are both up nicely pre-market).
Good luck.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Up 9.74% Bought a few shares at $3.71
Using this-mornings Worden report (Sir Marriageable-Ideas)
Relitive strength VLE crossing its 7day ma it looks like this was a good buy area. I will hold until negative candle shows up..
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Registered User
Joined: 3/21/2006
Posts: 4,308
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I bring this one up because it is in great buying position right now..
And no I sold out of this when those negative candles showed up for a very small loss...
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Registered User
Joined: 2/24/2007
Posts: 12
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the buy in signal came in mid jan and again in mid feb. smart money is already in.
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Registered User
Joined: 1/17/2006
Posts: 46
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Very nice. Thanks for the heads up. My kind of chart.
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Registered User
Joined: 9/22/2005
Posts: 849
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It's a nice triangle, too
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 Platinum Customer
Joined: 4/17/2006
Posts: 271
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What a pretty little chart this is today! Wonder if it'll gap up tomorrow morning.
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Registered User
Joined: 1/29/2005
Posts: 104
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Nice fry pan bottom pattern. Next resistance at 200ma (@6.50). good chart!
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Registered User
Joined: 3/21/2006
Posts: 4,308
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This is climbing out of its bottom very nicely, and does not encounter resistance until $5.70
TSV, BOP and Money Stream are all helping it along..
I said that it was a good buy on 02/26/07 and I still think that you can buy here..
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Registered User
Joined: 4/18/2005
Posts: 4,090
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Nice ...real nice.. I'm waiting for a pullback and I'll be in later. This could be the begining of a nice bottom and trend reversal.
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Registered User
Joined: 1/29/2005
Posts: 104
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On Friday, it hit the resistance (formerly support at the end of Sept) and fell back down with a spinning top. This indicates some indecision. Stochastics are in overbought area and reversal could occur. I'd watch it Monday to see which way it goes... If it clears 5.30, next resistance is around 200ma (@6.50).
Good Trading!
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Registered User
Joined: 9/22/2005
Posts: 849
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lpark
I'm not familiar with the "fry pan" chart
pattern you mentioned.
What does it look like?
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Registered User
Joined: 1/28/2005
Posts: 6,049
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You may be interested in this:
http://www.worden.com/training/default.aspx?g=posts&t=14861
Thanks
diceman
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Registered User
Joined: 1/29/2005
Posts: 104
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The middle of Jan, the stock did a reversal and came back down in a rounded bottom @3.25. It consolidated for about 7 days, formed a dimple and came back up to the same level. It then broke up through that resistance on 2/23.
A fry pan is a consolidating pattern with a lot of indecisive trading days, usually with a slight dimple around the midpoint of the fry pan pattern. The stochastics are usually in the oversold area around the dimple. When it breaks up through the resistance, expect a good upturn.
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Platinum Customer
Joined: 4/17/2006
Posts: 271
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What are the little candles of indecision signaling: resumption of new uptrend...or turnaround to the downside? I think it might go a tad lower first despite Big BOP, good TSV, OBV, MS. Parabolics changed to down on 3/9. May pullback to support @ 3.43. What do other folks think?
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Sharkattak, I see this as the begining of an ascending channel..
Draw trend lines connecting the lows of January, February, and March (see how they match up nicely). And now draw the trend lines connecting the tops of January and March. Lastly draw a horizontal trend line across the resistance at $6.25
I see this reaching that mark where the resistance trend line meets the upper channel trend line...
If today, price breaks below the lower trend line then all bets are off (for me)
If price moves above $3.85 then I will buy and hold to $6.25..
(IMO)
Apsll...
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Registered User
Joined: 1/29/2005
Posts: 104
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Shark attack, I don't see indecision candles recently. My reference to them was in the definition of a fry pan pattern. This stock is still in a downtrend. Stochastics are not yet in the oversold area and it can still head south some more. The next support it will hit will be the ascending support line that apsll mentioned (@3.50) or the 3.00 support line from late Feb.
It needs to give a buy signal before you get in this one.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Did anyone else get in on this? It bounced off the lower trend line like a rubber biscuit..
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Platinum Customer
Joined: 4/17/2006
Posts: 271
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lpark, the 3/8 & 3/9 candles looked indecisive, both look doji'ish. So I was thinking they might suggest DSTI might head down first before ultimately resuming it's uptrend...(which apsll so astutely saw coming...nice call aspll).
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Registered User
Joined: 1/29/2005
Posts: 104
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The 3/8 candle was an inverted hammer, but was not in the oversold area yet. This could have been either a continuation doji or reversal doji. It would have needed a confirmation for the reversal. On 3/9, it gapped down and formed another doji on the 20ma. I missed that it was on this ma line. Again, it wasn't yet in the oversold area but needed confirmation if the downtrend was over.
The combination of both signals did imply (correctly) that the downtrend was nearing its end.
Again, nice call aspll.
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Platinum Customer
Joined: 4/17/2006
Posts: 271
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Lpark, Appreciate the more detailed explanation of the candles. My inexperience still has me seeing things without the detail that experience eventually brings. Thanks.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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In light of Market condition, and the fact that I have a 21% profit from this, I sold DSTI at $4.65
I got bumped out of TRMM, and all of my short term holings have now been sold. (to much work for a break even track record)
I might sit this correction out (on the sidelines) or just play one position at a time - no holding.. Just day trading..
Good luck to everyone
Apsll...
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Registered User
Joined: 4/18/2005
Posts: 4,090
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I sold all my long positions a few days ago... planned on getting into the market short yesterday but went shopping with the wife.....should have entered my order.. but it still good.... went agressively short today and am so far having my most proffitable day since October. All former losses are made up for the most part. I've learned allot and have the rest of the year to go. I think it's gonna be good.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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I should have held this stock.. I knew that it was eventually going to make it to the top of its channel, but not this fast..
It appears to be completly un-effected by the market action
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Registered User
Joined: 4/18/2005
Posts: 4,090
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endo f the day took back nearly ALL my proffits... at the low of the day I was holding one loss of less then $12.00 of 6 positions... over $900 for the day by noon. day ended with $60.00 after the mid day bounce.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Scott that is why it might be best to sit this out.. If we are lucky a break even is all we can hope for, (Not worth the effort)
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Registered User
Joined: 4/18/2005
Posts: 4,090
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REally? I'm still in decent proffit and I think that markets will fall still further..... I remember the last market drop of May 06 and there were allot of whicks on the bottoms of candles. some on the top of them too... could be trecherous for the one who like stops to tight. It is still early in a broader market retracement and possibly some see it as buying oportunity ... or buy to cover at he end of the day.
I'm short in EXM, ENDP, GME, AXL AVT. CAL I exited just this side of the deep valley. also I'm trading larger share sized than I have in the past so "fluxuations" will be greater. but my strategies still stay the same.
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Platinum Customer
Joined: 4/17/2006
Posts: 271
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DSTI still has strong BOP, MS, OBV. ADX shows strong trend. +DMI>-DMI. Closed above 100 EMA last 3 days, although still under 200 EMA (@6.02), and StockTA indicates cluster of 7 Fib Resistances at 5.57. In the last minutes on Fri it was trading around 5.15-5.21; the very last trade was a gap up to 5.39. I haven't been trading long enough know, but I'm thinking that kind of gap at the last moment on a Fri smacks of amateur desperation (e.g. "Oh man, this is gonna take off next week, so I better get in while I can!")....especially when you look at vol in the last 15 mins or so which was fairly strong down vol. So, I'm guessing DSTI will retreat this morning although not much (may shake out the last trader(s) who scrambled to get in at the last moment Fri...and they would have been right, I think, in believing DSTI is going to take off this week)...before quickly resuming its uptrend. I may try to get in around 4.93 where there's a cluster of Fib Supports...but I'll wait to see what it does at the open. How are others approaching this in light of recent market rebound?
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Price bounced back at the resistance of $5.70 (I said that resistance was at $6.25 but the stock says $5.70 so lets take the stocks word for it over mine)
The way I would call it at this point is that price is either going to gap up over that resistance, consolidate sideways for a while, or slowly find its way back down to the bottom of its channel.
There is going to be another chance to profit from this, we just have to be patient.
I agree with Sharkattak, in that the indicators are all looking good, so the bias to the upside is still there..
(IMO)
Apsll...
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Remember this old friend, Well she is ready to ride the lightning again. (IMO)
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Registered User
Joined: 10/7/2004
Posts: 2,126
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LOL - Year an a half later??? Isn't time worth anything? I think more attention should be paid to the X-axis.
You can probably find good information in the Worden notes. It has been noted by many including them in the past.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Will you please stay away from me, You were right, I should have kept my word and continued with my policy of blissfull ignorance to your existence.
Your analysis is unwelcome and I do not need your help to maintain my success. We do not trade the same way. I am a full time trader and do not care one bit for your opinions.......
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Registered User
Joined: 9/22/2005
Posts: 849
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Apsll. BB(brain) has pulled your chain again. Please don’t contaminate this thread with responses to his slurs.
That said, thanks for calling DSTI to our attention again.
DSTI at 4.02 is flirting with LBB13,10 (4.10), LR30,30 (3.97) and resistance at 3.90. A close above 4.10 will indicate a bounce above all three of these indicators.
STOC5,5,3 is less than 20 and STOC12,6,3 is less than 20 indicating a short term oversold condition.
It looks to me that an order to buy at 4.11 (a penny above all of the indicators) and a stop at 3.89 (a penny below Thursday’s low) may be in order.
The risk would be 0.22 (4.11 - 3.89) 0.22/4.11 = 5%
The first target is 4.70, Reward = 0.59 (4.70-4.11) 0.59/4.11 = 14%. Reward/Risk = 2.8 (14/5)
A second target, should the first be exceeded. is 6.05, Reward = 0.59 (6.05-4.11) 1.94/4.11 = 47%. Reward/Risk = 9.4 (47/5)
In both target cases the Reward/Risk is acceptable.
As usual, this is my opinion for what it is worth. I have been wrong.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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I'd look for this to settle in around 3.70 or so in about a week. It may take another week or so building a base. If it holds there, then I'd expect the upward take-off.
Of course, market direction will always be a dominant factor.
I wouldn't buy this now unless it clears Friday's high.
It will be interesting to see.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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The low on 6/9 confirmed the trendline from mid-March and early-May.
If this will hold at this level, which I would define as staying more or less within the bb20,20, we should have a good set-up. Once it gets support from the LR30, I think it should be ready to go.
Some comments on some of the earlier posts:
I have not seen the bb13,10 be especially useful, by itself, on price. I use it but more for confirmation and decision-making once in a trade. I suggest the bb20,20 for price.
I also would not suggest using the 30 channel on the LR30 for entry point determinations. I think waiting for the LR30 itself is much more reliable.
Thanks for bringing this up again, I think it could be a nice pick for me in a week or so.
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Is this a Bear Flag chart formation. It appears so to me. But then again this formation looks a bit bulish as well with the higher highs and the higher lows. I would love to hear from some chart experts on this one...
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Registered User
Joined: 3/21/2006
Posts: 4,308
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Registered User
Joined: 9/22/2005
Posts: 849
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The Bulkowski description of a rising wedge (thepatternsite.com) requires that the pattern touch each trend line at least five times, which this one does not.
The DSTI pattern fit’s a triangle better.
Bulkowski says that the pattern should touch each trend line at least, twice which this one does.
If it clears the top trend line at 4.57, then look for it to make the target at 5.83 for 22% gain.
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