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Registered User
Joined: 11/11/2004
Posts: 21
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Bottom fisher?
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Registered User
Joined: 4/18/2005
Posts: 4,090
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look for a thread on "the mechanic of bottom fishing(or feeding)" basically is buying typically cheap stocks or any stock that has been sold hard and due for a bounce.
there is a bottom feeeders club I think on this forum... most of them (us) focus on really cheap stocks.
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Registered User
Joined: 9/22/2005
Posts: 849
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I think it is a little late to just jump on this
one, but it may have some interesting potential.
If it develops a flag or a pennant on that flagpole
or a Fibonacci pattern there may be some significant
profit to be made.
I'll watch it.
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Registered User
Joined: 4/17/2006
Posts: 271
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Joest, Hope you were in this. Good catch! Good time to buy would have been at the 4/3 Bullish Engulfing. Looks like it's bumped up against 1.05 overhead resistance, but looks ready to challenge that. Strong MS, TSV, OBV, BOP, vol. ADX indicates strong uptrend. Does 9/06-2/07 and then 2/07-4/07 bowl-shapes qualify as forming a double bottom? Looks too extended to buy here, yes? Would you wait for possible pb to maybe .80? (Don't know how probable that kind of a pb might be.) Looks like target =1.17, then possibly 1.31. With stop loss @ .62, you'd have a reward/risk ration of 1:2, 1:3. In any case, does look strong.
BTW, Joest, did you find this by scrolling through stocks or did you use a scan? Thanks!
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Registered User
Joined: 4/17/2006
Posts: 271
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Joest, Excellent call! Tacked on another 25% today.
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