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Registered User
Joined: 7/24/2005
Posts: 30
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jpendley- we did pretty good on ONNN, so take a look at my shopping list and tell what you like.
EICU- My favorite but earnings is out next week....I'll have to wait...maybe this one is for you.
MGAM- Another one with earnings next week...I'll have to wait.
SMTC- Most likely I will buy this one..if I get a little pull back and the general market holds up.
URI- Another good one in a sub-industry with a surge of group strength.
What say you.
MM
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Registered User
Joined: 4/3/2005
Posts: 91
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OK, in order of preference by me.
1. URI for midterm buy,but I would wait for a drop to about 26. I like the fundamentals and the outlook. might be some short term pop, but it has come up the last few days a little too fast for me. I appreciate you mentioning this one as I do like it.
2. SMTC, like you I like this one, but what worries me is that they haven't posted Quarterlies since the annual and they are on warning for delisting. they mentioned restating earnings from last year, so could be volitile.
3. MGAM, will be an interesting day on earnings day next week as they have 24% short. So if earnings are good, a squeeze could pop it nicely, BUT, I get the feeling reading the SEC filings that they have some problems getting the right games in the right locations. I will watch Monday, but probably won't jump in, but if I do, I think I will also get some Feb. 10 put options for insurance.
4. EICU. The thing that bothers me is that large candle on the 1/3 that there doesn't seem any news to reflect why. I like their product structure, and the chart for the last several days has been excellent, but I would wait on this until after earnings myself.
I used all of my scans, and i couldn't find even one stock that I had good vibes this weekend :) This was fun, thanks, and hope it helps.
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Registered User
Joined: 7/24/2005
Posts: 30
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JP
This is fun.... and profitable too!
URI- I think it would be an impressive purchase at 26....If it holds the 200dma I'll be a buyer in the 26.50 range but I always tend to be early.
SMTC- I like when a stock climbs a wall of worry....but I also want to avoid holding during any significant news release. I agree one must be careful here.
MGAM- I like nothing about this stock except it's chart. It's been on my radar for a couple of weeks and I can't seem to pull the trigger.
EICU- Good chart, great story. The 1/3/07 candle may have been a result of an end of a lockup period...considering all the insider selling that took place that day. Traders may have followed suit. Watch closely.
I'm also watching HSOA....it will need to cross the 200dma before I get serious.
MM
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Registered User
Joined: 3/25/2005
Posts: 864
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Concerning SMTC --
Based on the latest swing low established on 1/24 and the latest swing high established on 1/19, a target price of 14.14 can be established when using a Fibonacci expansion ratio of 2.618.
Daily S1 support is currently 13.99.
If we were to use this Daily S1 price as our entry price in determining the Reward To Risk of obtaining the target price of 14.14 (mentioned above) then we would get a Reward To Risk ratio of .12.
Monthly R1 Resistance is currently 14.09.
If we were to use this monthly R1 price as our target price (instead of using the price of 14.14 which was achieved via Fibonacci expansion) and if we were to continue to use Daily S1 as our entry price in determining the Reward To Risk of obtaining this target price of 14.09 then we would get a Reward To Risk ratio of .08.
Monthly R3 Resistance is currently 15.19.
If we were to use this monthly R1 price as our target price (instead of using the price of 14.14 which was achieved via Fibonacci expansion) and if we were to continue to use Daily S1 as our entry price in determining the Reward To Risk of obtaining this target price of 15.19 then we would get a Reward To Risk ratio of .95
In summary, 15.19 may not be achievable short term.
Finally, fundamentally speaking, the company appears to be fairly solid when based on a scale of poor, fair, sound or strong. But, appearances can sometimes be deceiving since, in this case, the company is late in its regulatory filings (IMO).
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Registered User
Joined: 3/25/2005
Posts: 864
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Concerning URI --
Based on the latest swing low established on 1/26 and the latest swing high established on 1/24, a target price of 29.36 can be established when using a Fibonacci expansion ratio of 2.618.
Daily S1 support is currently 27.26.
If we were to use this Daily S1 price as our entry price in determining the Reward To Risk of obtaining the target price of 29.36 (mentioned above) then we would get a Reward To Risk ratio of .80.
Monthly R3 Resistance is currently 28.49.
If we were to use this monthly R3 price as our target price (instead of using the price of 29.36 which was achieved via Fibonacci expansion) and if we were to continue to use Daily S1 as our entry price in determining the Reward To Risk of obtaining this target price of 28.49 then we would get a Reward To Risk ratio of .47.
In summary, 28.49 may not be achievable short term.
Finally, fundamentally speaking, the company appears to be strong when based on a scale of poor, fair, sound or strong. (IMO).
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Registered User
Joined: 7/24/2005
Posts: 30
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QUOTE (mrmills) JP
This is fun.... and profitable too!
URI- I think it would be an impressive purchase at 26....If it holds the 200dma I'll be a buyer in the 26.50 range but I always tend to be early.
SMTC- I like when a stock climbs a wall of worry....but I also want to avoid holding during any significant news release. I agree one must be careful here.
MGAM- I like nothing about this stock except it's chart. It's been on my radar for a couple of weeks and I can't seem to pull the trigger.
EICU- Good chart, great story. The 1/3/07 candle may have been a result of an end of a lockup period...considering all the insider selling that took place that day. Traders may have followed suit. Watch closely.
I'm also watching HSOA....it will need to cross the 200dma before I get serious.
MM
HSOA broke through the 200DMA today on higher than normal volume. I was watching the tape as it broke through and it set off a lot of contingency buys. The real question is ....will it have a follow-thru day tomorrow or will it retest support? I wasn't overly impressed with the volume so I look for some follow-thru and then for it to retest support next week. What say you???? All opinions welcome. Earnings in 6-8 weeks.
MM
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Registered User
Joined: 7/24/2005
Posts: 30
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MGAM – (IMHO)Earnings should be bleak this week. In addition to a poor earning comparison they have expensed a large portion of their restructuring cost in this quarter. The recent pop-in-price appears related to the strong-arm tactic of Liberation Hedge fund to maximize shareholder value. Liberation has placed two representatives on MGAM’s Board of Directors. I think this a good thing as they are pressing for expansion in other markets and a share buy-back program to purchase 30% of all outstanding stock. Liberation owns about 8% of MGAM. Some funds may take advantage of the price weakness to increase their position when earnings are released.
MM
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