Scoping the charts
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I agree that there isn't much left to accumulate as I believe the float is held tight based on how thin this trades.
Correction is based on the daily chart as most are in the pennies short term and or MOMO traders, so the daily chart has more weight than a weekly.
Overbought conditions based on the RSI, MACD and the ADX. All three are almost at peak levels.
There are no gaps to back fill, the concern here is the overbought condition of the overall chart based on the daily. One can argue that the accumulation levels are showing a dip downward today as well on the daily, among others.
I am a chartist and trade strictly on charts and I have to disagree with you regarding the filling of gaps. Not all gaps have to fill. If you look at the ICPA chart you can see P/A back tested the gap and shuffled back to "fill".
Correction is needed and will come but its not based on any gaps.
Because logically speaking a correction is needed and I can see that. I am not relying on "hope" with fingers crossed to make this continue to go higher. Emotional trading is a big no no, especially in the pennies.
It only takes one big block to cause a dip and that dip can trigger stop losses causing a deeper pullback, those who entered on the top side will sell to minimize loss causing more sell pressure and then panic sets in.
Like I've been saying.. its much healthier for a stock to trade sideways then up, sideways then up compared to a stock that just goes up and continues to go up making the chart heavily overbought, that within itself is cause for some to panic and sell.
I don't allow myself to get attached to any ticker, no matter the news, S/S, etc. I trade based on reason and logic not on emotion and hope.
Well said
ATR* had a very oversold chart when the run started. Notice at .36 RSI peaked in the 90 range and from there it corrected. ICPA has been trading in the 90 range for awhile now and thats why a correction is needed to reset a lot of technicals.
No, at this point IMHO a correction to reset a lot of technicals is healthier than a move higher in the grand scheme of things. Just going by the charts as I'm strictly a chart player.
Actually its better if this sees a correction at this time, technicals and the chart overall is way too overbought for any significant bull moves to happen. Needs to correct, test support and reset the chart IMHO.
looks like a new $150,000 promo starting up tomorrow.. another trader passed this to me so thought I'd share.
MELY @ http://www.thewallstreetbulls.com
Thought I'd post this.. was looking at some charts and came across ICPA's weekly chart and man does this have some potential to the upside. Of course there will be dips and pullbacks as with any stock but overall this one has some good potential IMO.
50MA weekly is right around .034 so if that is broken then you can see exactly how big the chart opens up to the upside. Not to mention that the MACD is making its move up to 0 level and a cross above will send this, RSI in good shape as well.
APS and crew won't ever have a Twitter.. its way too risky.
Another perfect call man.. member marked you
A little buy pressure on the ASK and this runs from here.. the trading channel is super tight now
Stop clogging the board with this stuff.. sharing of PM's and accusing people of having multiple accounts is OFF TOPIC and against TOS once again.
So your pumping ELT* on the HBRM board lmao
Still churning I see.. Channel is sure getting tighter though
Seems like MM's getting pissed with any bids that come in @ .008 or higher.. they precisely bid whack that number of shares.. hmmm
It would be healthy if we channel in the .008's IMO
These levels are thin thin thin!
.0079 gone
.0078 x .0079.. lets see a good move upward today
MM's are deeply short here.. they will frustrate and scare to shake shares free.. thats what their counting on. We have HUGE news coming and a BIG gap to fill all the way to .016.. we move soon just needs a little patience IMO
Nahh.. what happened today was we had a low volume day.. MM's control this when its low volume as the case with most stocks. That late day buying surge we had didn't last long enough and when it stopped, MM's shook most out.
Chart is pinching and IMHO we see a pop soon.. we have a HUGE gap to fill all the way to .016 if you look at the chart. That sort of big gap has to fill
Looking at that gap filling as well.. its almost a given
Hoping we see a green day tomorrow and Friday to pull back to .01+
EOD very weird.. was expecting mid .008 close here
Will move back up quickly IMO
7.8 milly bid @ .008 and 4.4 milly bid @ .0083
Chart building nicely
wow.. Level II thinned out to .009 quickly
CSTI showing 8.2 million shares bid side @ .0078
Its been happening a lot lately.. don't think its an MM signal just retail playing around with the low volume today
lol okay..?
Here's what you said a few days ago going by your post history.
Your first post you said this
World Beater
Monday, April 23, 2012 3:51:37 PM
Re: None
Post # of 32010
Whenever I see the ol buyback scheme I usually walk, scratch that, run the other way.
But then the same day you said this
World Beater
Monday, April 23, 2012 3:54:37 PM
Re: Senorita Roachita post# 30454
Post # of 32010
Bought and sold, got a little profit for the day. I wish everyone here nothing but the best though. IMO these buybacks from the pinks always have a catch or are outright lies. I sincerely hope that's not the case here. Good luck to you.
Then you said this
World Beater
Wednesday, April 25, 2012 10:41:15 AM
Re: None
Post # of 32010
WEEEEEEEEEEE!!!!!!!!!!!
.02 EOD!!!!!!
This is your post history. Basically you went against your own word when you said you will run the other way but in fact you bought shares of HBRM lol then you sold for a flip and now your back lmao thats just too funny
NITE & AUTO ask sizes are fake.. watch them shuffle around
Sometimes they are partial fills of a bigger order and most times its just washed out sell/buy between two MM's.
Still sideways trading, pullback on low volume.. churn churn churn
LMAO too funny.. I'd suggest you save the scare tactics for the newbies.