| Sir Bollinger band width |
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Beta Testers, Gold User, Member, TeleChart
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| Wednesday, December 8, 2004 |
| Monday, May 19, 2008 2:33:15 PM |
213
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It is never good to get greedy in the market.
In my opinion If you trade the only way to go is to fully automate your trading.
Rules should be backtested etec etc.
Emotions kill traders more than anything else
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Heavy buying for CIMT coming in. Started about an hour ago.
Price is moving up a bit.
It will be interesting to see what happens over the next 2.5 hours plus leading into the close. Check out the TSV at about 3:30 PM EDT and see if it tells you anything
Earnings tomorrow before the bell.
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QUOTE (fpetry) QUOTE (Sir Bollinger band width) [QUOTE=Sir Bollinger band width]
CIMT has formed a very long term cup with handle.
Hi Sir Bollinger,
CIMT does not show a cup/handle imo, and I can't spot a single criteria (of about a dozen) that constitutes a cup/handle. No harm though if one wants to call a pattern they see by whatever name they choose, but I'm going by the guy who discovered and popularized the pattern, IBD's William O'Neil. He found the pattern to be THE most powerful of all chart patterns for almost 50 consecutive years when studying in detail the patterns of the best price performing stocks for each year. But the pattern has very specific criteria, including length of cup, depth of cup, volume at key locations, location of handle, length of handle, depth of handle, volume of handle, etc. To keep this brief I'll name the first failed criteria that popped out at me when I pulled up the chart and looked at it per your time scale: Per O'neil the longest a cup/handle pattern can be and still remain viable is 15 months. I wanted to point this out because I'm a really big fan of the pattern and know it well. FWIW. Cheers.
Have it your way. We could argue about the Cup and Handle all day. Follow your own line of thinking and I will follow mine.
CIMT is moving up. DBSI announced that will increase their holdings from 27% to 45% by purchasing 1.8 million shares at $2.80. CIMT was up 5% today on heavy volume to close at $2.96.
Earnings wil be out next Tuesday
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Bubble bubble, toil and trouble?
The OIX-X looks to stil be in its long term upward channel. An significant upside breakout of that channel could be at least an intermediate top..
The uptrend is now about 6 years old with the price remaining firmly above all moving averages.
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QUOTE (Sir Bollinger band width) Nice Week
Up 39% to close at $3.84.wihout a gap on improving MS, BOP and TSV
2007 earnings release next Wed 27th B4 market open.
Now up 195% since the end of 2006
CIMT earnings due out shortly. It is basically unchanged from the end of the last year now at about $2.84.
A tough stock to trade but a great long term investment over the next 3 to 5 years.
Up 116% last year. (Almost as much as some commodities LOL)
Up 24% in 2006.
Revenues and earnings trend continue up.
You can see this very well on a template that Peter Worden created some time back entitled "Peter Worden Long Term Weekly"
CIMT has formed a very long term cup with handle.
The left side of the cup was formed in Jan 2004 at around the current price. The bottom was formed 2 years later at the end of 2005 (beg of 2006) at just under $1.00. The right side of the cup was formed again two years later at the end of 2007. The handle has been forming since then.
I have not set a long term (3 -5 year) price objective for CIMT. It will depend on the world economy over that period and CIMT's ability to continue to grow revenues and earnings. By the way an entire new top management team took over in the fall of 2005 and a significant key person was added on Jan 1st of this year.
Good luck everyone.
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Great comments on this thread.
It will take a bit to digest it all.
Thanks everyone for your insightful comments
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QUOTE (Craig_S) QUOTE It appears to me to be calculated using trade sizes and trade direction, possibly the bid and ask.
To be accurate, BOP is calculated on your machine within TeleChart only using some or all of the data you download. It only has access to daily Open, High, Low, Close and Volume. It does not have access to bids, asks or trade sizes.
Thanks for correcting that.
You were a big help
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As best as I can figure BOP is calculafed over a relaively shot period of time and updated by dropping an old day and adding the current day's data..
It appears to me to be calculated using trade sizes and trade direction, possibly the bid and ask.
Bottom line on BOP is that it it appears to be an attempt to capture accumulation and distribution days.
Since the BOP is a what I consider a short term indicator taking into account less than a months worth of activity, one day of 3X or more than average volume can significantly move the BOP. .
Since low float stocks tend to have more extreme volume days relative to their average daily volume BOP is lot more volatile on low float stocks where sometimes one extreme volume day can be as much as the total volume for a 2 or 3 weeks. This is a lot less lightly to happen where the float and daily volume of a stock are high like with say stocks like MSFT, ORCL, etc.
I have seen stocks go up for long periods of time while their BOP is red and down for extended periods of time when their BOP is green.
I haven't looked into MS that much except it seems to me that from my experience you are more likely to see TSV as a positive or negative divergence than MS.
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QUOTE (funnymony) heres a good book to start with.
Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications
by John J. Murphy
I would start with Worden videos.
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Nice Week
Up 39% to close at $3.84.wihout a gap on improving MS, BOP and TSV
2007 earnings release next Wed 27th B4 market open.
Now up 195% since the end of 2006
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