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The great thing about Tom is that he always does what he says he will do, but unfortunately, it's not always when he think it will be done. I'd hate to see folks excessively rely on a PR before year's end -- I think it'd be better simply to accept that we will have one "soon".
I'm not really a fan of the Head & Shoulders pattern, but the 3 month chart in the IBOX is showing a pretty good inverted one.
PSAR down, MA 200 down, 0.016 down: time for 0.02s.
Volume has been too low for any substantial dilution -- assuming it is sold; 5 dma is at 10M.
Just my take, but I believe he was arguing that the move was completed and ready for a new pattern, he then used the other indicators to argue for a reversal.
I never heard the term "Measured Move" prior to that chart, but reading the chart school definition, just a bearish ABC fib retrace, not sure why it needs such a non-intuitive name. That chart school is also wrong on a lot of time scale issues -- they frequently argue for periods of weeks and months, but I observe that patterns are most accurate over hours, days, and sometimes weeks. Any longer than that and unexpected fundamental changes begin to disrupt formations.
lol, thanks! Sounds good to me :) eom
Thanks very much for your reply, lowtrade. I appreciate your insights.
Not necessarily today, imo, but resistance at 0.016 and the large blocks at 0.010 are concerning.
A close over 0.012 should break the most aggressive downtrend.
As much as I would like to see upper teens and twenties today, I think a nice rounded bottom will be healthier for the stock.
bp, the short answer to your PM question is that I'm not sure. I'll try to shoot you a PM during happy hour.
Just saw that too; given the timing of the O/S increase, do you think it was someone who was short against the box?
We're testing the upper bound of a down trend; bounce still looks better than not. We successfully tested 12s twice today which is both fib support and a bottom formed on 11/20. 0.017 will be a little tricky, but with little volume south, I think we'll beat it before we go lower than 12.
Nice purchase; be cautious of large blocks popping on the bid side below 12. Right now, the volume is north.
After 12, support at 10, 9, 7, 6, 3
PSAR down :( -- let's see what happens at 12.
I genuinely think it is -- if I had change, I'd add here with an eye on 0.012 and level II.
Thanks, fringe. I'm relatively new to pennies -- trying to adapt some big board lessons. Now that those 15s have finally filled, there is no reason at the moment for MMs to keep us down here -- I don't see any large blocks lower and the guys now at 14 are usually on or close to the bid, wherever it is. There are still good sized blocks at the 30s and I think MMs will want to head there. I've been seeing fib support at 12 and would be surprised to see lower than that today pending some dramatic change in the level II spread.
15s down to 3 MMs (shown), 30s up to 6 -- double plus good :)
Going to fill those 15s. Volume slope at bottom today; should see a pop this afternoon or tomorrow. 30s lining up, hope they are at least as attractive as the 15s are.
I think they want those 0.015 bids, we lost our momo yesterday when more blocks started showing up there.
PS thanks for the PM, fringe :)
Maybe someone should route a bid through ARCA to counter him :)
Everyone getting ready?
I doubt we'll see much lower than the 200 MA. I think we will find our bottom within 1 to 2 weeks -- look for a few low volume days, <100K ideally.
http://stockcharts.com/h-sc/ui?s=SUF&p=D&yr=3&mn=0&dy=0&id=p44995193244
It's the blocks. They were stacked large at 0.018 last week -- I had hoped buying interest would be too much to walk it down to get them, but they found a way. After 18s, large blocks in the 15s & 16s showed up, so the MMs took it lower to snag those.
We came back up when the large blocks on the bid side were exhausted. Now they're on the north side and as long as they stay there and the bid blocks stay gone, we'll go up.
This is my favorite PR so far. Not only are Black Friday numbers better than expected across the board, but it indicates to me that the merger publicity has paid off nicely.
You know what irritates me? I had purchase criteria picked out shortly after open and right before I headed off to work. I was pleased to see it break the intraweek downtrend, but wanted to see it break some resistance around 0.018. Only 15 minutes away, surely nothing exciting will happen... Argh. I'm in now, but don't have the cushion I'd hoped for.
Shhhh, you'll scare it.
*Agree* or at least move your bids up.
ETRD, that goes for you too.
What do you have against computers?
We have a double bottom here and if we close green, americanbulls.com will issue a "buy confirmed". In other words, I think this will be more than a 20% flip. *crosses fingers*
That said, I let a few shares go this AM; I figured we'd go up if I sold some. Just glad I could help.
This is nothing, left to our own devices (no naked shorting or dilution), our bounce will be much higher. I hope to test fib resistance in the mid 0.02s.
Always funny when someone knocks 2M off the ask and SBSH wants to nitpick over one one hundredth of a cent on the bid.
From what I can tell, most of today's sales have been through SBSH and ETRD, both are retail, no? NITE actually appeared to offer some price support today.
Odd, atrade showing it as a buy at 0.0131.
Um. Had to click on the previous post to make sure we were still talking about pps.
Soapy Bubbles:slow,and steady!!!!!!
If we bounce from 0.0125, it would not be unusual to test the previous fib support at ~0.026. I have a small sell in at 0.024.
Chart shows support around 0.0125, but I'd have hoped for more of a bounce. Support won't hold through dilution, though, so let's hope they take a break for a bit. Below that, ~0.0115, 0.010, ~0.007, ~0.004.
IMHO, hard to tell where an absolute bottom is while the O/S keeps increasing. [Not how I traditionally like to read charts, but last night I actually had a dream that the bottom was at 0.011. I spend way too much time thinking about this stock :)]
Next fib resistances are ~0.017, ~0.024, ~0.026 -- 50 MA in this region as well.
Why?
I would expect a nice surprise PR at any time.