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Well, so much for that. Good news is intradays are a good deal oversold and level II looking pretty clear to .06
As long as we hold .052, fibs showing short term target of .086, right at yesterday's HOD. Probably today, maybe tomorrow.
<<As previously communicated, Seaway Valley Capital Corporation had executed stock purchase agreements between shareholders representing approximately 75% of WiseBuys Stores, Inc. However, upon further review of the legal structure of these deals, both management and the WiseBuys sellers are exploring a slight modification that would make these agreements more tax efficient to both the sellers and potentially to the Company. Under the new proposed structure, the WiseBuys transaction will be considered a stock “merger” rather than a purchase, and the Company would seek to merge 100% of WiseBuys into Seaway rather than the 75% previously announced.>>
Woohoo!
I hit the ask for a small amount at .05 and got filled at .0498 -- out of funds now. C'mon .054...
Let's get this back over .054 today... chart will be very happy.
<<I'm still learning.>> Me too. The good news is that the next trip up should be easier than the first. I may look at selling some other stuff to add in the morning -- hard to pass up these prices considering what we've already seen.
I would love for that to be true; where did you get that info? Any idea on time?
When I said:
"break north and go parabolic and then retrace down."
you said:
<<I disagree! On weak stocks true. Look outside the box.>>
but here we are. We are now back in last week's uptrend channel. Today's candlestick bugs me, but the 60 minute chart going back to August still looks good. I wish it were easier for me to post annotated charts, but we bounced off of the top side of a large channel that began the end of August -- I would have liked to have held the ~61.8% line in that channel, but we're still okay. If we lose .04s tomorrow, I'll start feeling nervous.
How does our OS compare to CXN when it climbed?
Yeah, not just SWVC, but breaking stocks in general. I posted this a while ago:
1) Opening run
2) Stall and 38.2% pull back at around 10:00-10:15
3) Second run at around 12:00
4) stall and pull back 12:30-1:30
5) After 1:30, depends on #4 technicals.
Way premature. Old highs were obvious resistance points, but far too early to call game over. Having broken into a new channel, we are testing new uptrend support and the old uptrend resistance as I type. I think it is more likely than not that we close at or over 0.06 and a good chance at .07s.
The latter, broke north out of trading channel.
<<The Golden Cross that occurred on AAGH, had the stock flat lining for the following 13 odd days after it took place, before it actually took off ??>>
That inconsistency has been my experience and that's why I don't often pay much attention to the golden crosses -- imho, there are usually plenty of other indicators that are more reliable. The "angle of attack" will account for a lot of variability in the result. With AAGH, the angle between the intersection of the 50 and 200 ma is relatively shallow. SUF just had a relatively sharp GC cross with a strong result. In august 06, GOOG had a shallow 50 ma cross below the 200 with little effect, but when it sharply crossed back up in October 06, the effect was much more pronounced.
In our case, the cross will be sharp.
I'm probably the wrong person to ask about crosses. I rarely pay much attention to them other than to expect the outcome to generally be bullish. I prefer to just stick to fibs, trends, stochastics, and the intraday MACD. (K.I.S.S.)
FWIW this TA hit the ask at .038 today -- we're not all doom and gloom. The intradays haven't broken parabolic yet and all the tops have bounced off of the aggressive lower bound uptrend line to continue running. Eventually we will either fall through the uptrend support and retrace down or break north and go parabolic and then retrace down. They way we are going, I think it will be the latter, particularly on any news. I'm not selling anything before then.
Charts never lie but chartists don't always listen.
0.0171
Was hoping to take profits from another play and add at the .008s, but it took two days too long and I had to add at .02.
Perhaps it's flattering that you hold the ta folks to such a high standard. I think you make a couple mistakes in your assumptions, however: (1) to the extent that it is a science, it's not an exact one -- it's a probabilistic one. TAs make estimates based on what usually occurs under given scenarios, but, from time to time, there are unusual circumstances. TAs will try to adjust for this but in the end, it's just a guess. The further down the decision tree, the less likely any particular outcome will be the realized outcome. (2) one TA does not speak for all TAs, but it seems like when one person makes a bad call, that is used against the rest of them. If you don't like TA, don't listen to TAs, but why chastise a particular group of people for incorrect calls when there have been plenty of bad calls here all around.
Preface: I have never sold a single share of SWVC.
I don't know why there is so much vitriol here against flippers; I never hear anyone complaining when the price rises. Last week, I agreed with the lower pps calls -- there were a lot of technical obstacles to get us where we are now. I was wrong. Frankly, I've never seen a stock with that kind of chart overcome that kind of resistance so easily. I added yesterday at 0.02 and you can bet other TAs are adding too.
lol..I didn't post about it, but I thought we were going lower on Friday also. Bought a little more today, but underestimated NITE's resilience. Calls that work both ways...we could go dig up some of the posts with price targets by fundies from the week prior to the symbol change.
Perhaps a minor point, but he didn't say SWVC specifically, but rather OTC in general.
Well, I believe he called it before the print, but that post is now deleted. Why his initial post that explains the situation was deleted but the others remain is odd -- the deletion policy in general here is rather strange.
I believe that was VLV's
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22426478
A little trend perspective:
http://img293.imageshack.us/my.php?image=swvctrendswq6.gif
(I expect that many of the TAs are already familiar with this view.) The vertical black lines represent likely points of volatility.
Whew, close one. I can live with that close. Guess I'll have to wait until Monday for .010s
Chart still looking good for .0103+ today, though level II is starting to look ominous. I'd be disappointed with anything less than .0097
So far, a very healthy breakout; this is how they generally seem to work.
1) Opening run
2) Stall and 38.2% pull back at around 10:00-10:15
3) Second run at around 12:00
4) stall and pull back 12:30-1:30
5) After 1:30, depends on #4 technicals.
Today's retraces to note:
38.2% -- .008 Anything here or above is perfectly healthy and should send us to ~.0105 in short order.
50% -- .0078 Implies ambiguity, if we bounce here and break 0.0085, then we should be looking at ~.0103ish, otherwise:
61.8% -- .0075 The last stand, anything below this will almost certainly send us back to the June's 50% retrace at .0069.
I didn't think mine was, but it only lasted a few seconds. So long, #23442! I keep trying to think of a way to rephrase it that will preserve its existence and convey the meaning...
On 60 minute chart, converging trend lines creating a descending wedge, broke north a bit, but so far lacking follow through volume to get us to .009s. This is one of those times where TAs pray for news.
50% retrace of the June 22,25 run is at 0.0069. If we lose that, base of the 8/17 run is .0066, also support at ~0.0061. 61.8% retrace at 0.0041.
Seems like naked shorts show up nearly every time I see a large run and pull back within the same day so that you end up with candlesticks with a short body and a long upper shadow. (e.g. 8/17) This wreaks havoc on the fibs and almost always means a trip back to where you started. A lot of folks seem to dislike the flippers, but the NSers are the ones that deserve a majority of the ire, imho.
(p.s. my last post today)
Evil Candlestick:
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Thanks! I've been reading this board for a couple months. I came here as a flipper but was soon converted.
Conceptually, I've always liked the SAR. Unfortunately, I've rarely seen it work. I find it unreliable in sideways trading and unnecessary for uptrend/downtrend trading. Seeing it's prominence here, I ran a few simulations though Ameritrade's strategy desk and confirmed that in general 1) wins to losses are either not substantial or not reliable and 2) in many cases, doing the opposite of the PSAR indicators was more profitable.
Here is what I used
buy:
ParabolicSAR[PSAR,0.02,0.02,0.2,D]-Bar[High,D]>0
sell:
ParabolicSAR[PSAR,0.02,0.02,0.2,D]-Bar[Low,D]<0
I usually stick to fibs, stochastics, trend lines, and an indicator of my own construction that attempts to measure moves outside of normal volatility, and have found that efforts to make it much more complicated than that reduce my odds of profit.