Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
That's what I'm counting on crable. With a bit of a bid wall now at .31 I'm expecting to see it really firm up from here and run over the next to several days. These proper pinchers do very well at times when the DOW is down. I believe it gives traders a place to go into a long position with some degree of comfort, confidence and high expectation. Just my opinion.
cmkxman
I see that crable. I didn't want to miss it so I bought into the ask at a bit higher than I desired a two trading days ago, but I'm even with it now and looking for the gains to begin now.
cmkxman
Good morning crable and all. eom
cmkxman
Re: ZLC - The board is out of it now, but did we bail too soon? It has to break above and remain above the 13dma for a few days before it can be considered a successful pincher bottom swing trade. I made several percent on it during last week but I'm not sure what to expect now. I'm not surprised by the bounce from the bottom SAR line but will it break out to the upside and really rally? Hmmmmmmmmmmmmm.
cmkxman
Thanks for the mention crable. I'll keep presenting my scan picks to you and you keep giving your analysis of them technically. I've already summized their potential myself but your additional critique helps me avoid potential missed technical or fundamental pitfalls or helps me solidify my positive summations.
The only chart that screams "I'm a pincher" to me is PARD. And though it may be early, I think it should pop near this current pps. I would simply swing trade it though as it's book value is close to its current pps so I'm not expecting this to necessarily be a permeanent bottom. The best I would expect would be to profit from one bollinger line to another. Play the pincher and this one should prove safe and profitable. Good luck to all!
cmkxman
KPC - close but maybe a few days early to my best perceptions crable. Or...........it's a double bottom with a nice gap up for Monday? I wouldn't risk betting my retirement on it on Monday though but that's just me.
cmkxman
RHINO, re: the DOW...........
I see a chart setup very similar to the chart that exhibited the third week of August 08 as the price channeled fairly tightly before pressuring to a strong downward price spillover. Today the macd, stochs, CMF and TRIX all mirror the 3rd week of August this year. A very, very similar chart in appearance to me. So, I too expect another leg down before we see any bottom. Will that be the bottom? Am I right? I don't know, but it's hard for me to visualize a strong upside trend from here.
cmkxman
check your pmz crabz......
And a good morning to you crable. eom
cmkxman
Enjoy the better part of your time today with those who count the most crable. Time to go to work, talk at ya later......
cmkxman
cuzlok............HKs numbers were excellent for last quarters quarterly report:
"BRIEF: For the nine months ended 30 September 2008, Petrohawk Energy Corporation's revenues increased 26% to $824.5M. Net income totaled $157.1M, up from $53M. Revenues reflect increased sales from oil & natural gas due to higher average price. Net income also reflects lower lease operating expense due to the decrease in production volumes and decreased workover expenses due to the sale of GulfCoast properties. http://www.petrohawk.com"
http://clearstation.etrade.com/cgi-bin/fundamentals?Event=profile&Symbol=HK&Refer=http://www.clearstation.com/cgi-bin/focus
So then you have to consider of course how oil stocks are doing in general as well as what future expectations are for this company alone. It's trading very close to its book value of $15.71 per clearstation.com so there's not a lot of room for upward price movement when considering we're in a bear market, unless the company posts great numbers for its next 10q. Keep a nice tight stop on it, otherwise let it run........
cmkxman
It's holding up cuzloc. Now to see if it will trade up and over, finding support at the 50dma again. It's a good hold until it breaks below todays low really, imo. Best of luck with it.
cmkxman
MOV up 6%. Finding support from the 13dma and moving up to its next level of resistance, the middle bollinger line. Nice profits crable for the board portfolio.
NT Now trading at origin of entry for the portfolio...........not showing great support, but anything could happen here. Holding from current .26 to its year low of .2 would mean almost a 25% loss plus more if it doesn't hold at .20.
PINN up a bit for the day on good volume and may, if we're lucky rally at eod. Would make for nice year end profits for the board.
IBIN Still looking for a solid bid wall bottom, or at least a steady buying pressure to the upside, but it is very close to a turnaround, imo. The TRIX overlay has presented a reversal on the ytd chart. All other inicators are overextended and could turn in the very near timeframe for a nice pincher pop as it is trading well below the SAR and 13dma. I'm hoping to pick up more shares at .25 before its bounce and reversal, but I don't see it happening. Either way, I'm holding for the pincher reversal playout.
The INDU is struggling to hold its present gains from the most previous rally, the bollingers are tightening and other indicators are mixed. We shall see........
Hope everyone is having a pleasant post Christmas day. I have to begin a new workweek at my place of employment as the market closes today so my day is what it is.
cmkxman
Good morning crable and all! eom
cmkxman
Oh and yes crable, I did get what I was hoping for! Not everything mind you, but yes..........
Oooooh but I wish the market weren't open tomorrow, I could use a couple three more days off for the holidays.
I too hope you had a great Christmas too! See you at the bell tomorrow.........
Be careful with this one crable as the chart doesn't thrill me and check out their last reporting numbers:
BRIEF: For the nine months ended 27 September 2008, X-Rite, Incorporated's revenues increased 15% to $200.7M. Net loss from cont. ops. totaled $53.2M, up from $541K. Revenues reflect an increase in sales from Color Standards segment. Net loss reflects an increase in selling & marketing expenses, higher restructuring & other related charges, increased general & administrative expenses and higher interest expenses. http://www.xrite.com/home.aspx
Event=profile&Symbol=XRIT&Refer=http://www.clearstation.com/cgi-bin/focus
And their book value was only $1.63 in Sept; also per clearstation.com. Unless there is something fundamentally reassuring or promising, I'd focus on better bets.
http://clearstation.etrade.com/cgi-bin/fundamentals?
cmkxman
Fingers crossed that MOV holds up with the fresh SAR trigger. And wise decision ridding your risk with ZLC at 1% over your buy price. Considering NT........who knows. Where's the true bottom and will there be a buyout in the not-too-distant future? Buying PINN at top of SAR line so there is some risk but all indicators are positive and this is the point where the real gains begin if they are there for a great swing trade.
The board is keeping losses to a minimum and letting the profits run. That's the way to play any market, but especially this bear market!
Have a great Christmas all!
cmkxman
Thanks for that Chart-this-trade! eom
cmkxman
Re: IBIN - Per clearstation.com the book value was $2.48 at end of Sept. 08. Their revenues were down 27% but their net income was down only 7% and they have real value for sake of buyout potential and survival. There was steady accumulation since June until a major level of support was broken with that nasty down-gap here in mid-Dec. I'm just looking for the big bounce here so the book value is simply extra firm padding for the bigger bounce. Since I'll be picking up more shares with any additional price shaving, I hope you'll all join me in the near term to provide additional support for the bounce as I'm thinking that many of those who exited during this sell-off are looking back at it for a possible reentry when the price is right and that will make for a bounce. No long term hold here just a pincher play!
cmkxman
MOV has been showing real strength crable. I think it's good for the hold.
cmkxman
Trying to nail the bottom down on IBIN now. It's a true pincher setup and with all the indicators in the basement looking for light, I expect that the bottom is very close. Taking a chance here at .34.
cmkxman
It's strange that my year-to-date PINN chart didn't show the SAR reversal when you posted your alert, but it does now. I'm using stockcharts.com.
cmkxman
If you're ahead 15%, your'e ahead. It was a good trade!
cmkxman
Nice job nailing profits cuz! eom
cmkxman
I've been letting my tax preparer do it for me. She's been great and extremely affordable and I trust her. I'd like to start tracking my trades too though for myself to make her job easier and to be able to do my own taxes in case she isn't in the future, so I'm interested as well.
cmkxman
You're right about the chart falling apart. The shorts must be on a mission with this one, not just profit takers and loss stopping going on here, imo.
cmkxman
Gooooooooooood mornin'! eom
cmkxman
Not much we could do except watch for you cuzloc. Nice to be ahead in your trades isn't it? I'm still waiting on ZLC to kick off though I'm ahead on it from my initial point of entry. Tomorrow will bring another day of opportunities.
I don't care for buying into relative strength mid-swings myself but MEDX looks good for additional profits with the fresh adx crossover, a continuation of the positive indicators overall and a positive accumulation/distribution line. But if you take a position, don't ignore it 'cause you can't trust anything in the market except the greed of others.
See you at tomorrows open.......
cmkxman
No eod run for ZLC, but it did hold yesterdays low. Lots of interest in this stock whose book value is $16. It's quite undervalued and the bottom can't be that far away. If the shorts get squeezed hard enough this thing will bolt.
cmkxman
ZLC needs a little TLC if you ask me. I'd like to kick the shorts in the shorts!
cmkxman
He should be fine with PALM at the open for tomorrow, imo but I'd feel safer getting out at some point near eod today.
I'm thinking that cuzlok was referring to PALM when he drove out of town this am. He might be pleasantly surprised when he gets back online as long as he gets back online sooner than later.
PALM up 8.52% at present.
cmkxman
Well that's why were here crabz, to find the bottoms! Now let's find 'em and post 'em!!! LOLlol
cmkxman
Oh thanks crable........but my analysis is only as good as the following price action to my analysis. lol
cmkxman
I'll continue to watch DXYN but I'm not entering till I see more technical reasons other than the pincher. Thanks crable.
cmkxman
Yes Rhino, welcome to "the stockport" which I'm calling my home and a good place to hangout while searching and waiting for those perfect pinchers and bottom picks.
Re: PINN...........I think a lot of folks are looking at PINN but few are wanting to put their money on it till they see someone else jump in first in a big way. It's a tight pincher with no other indicators immediately drawing me in other than oversold stochs and a nice consistant accum/dist line for the last 6 mos. I'm looking to enter but not at the moment.
cmkxman
Another leg down before we see it? I don't know, but frankly it's traded up surprisingly well without the SAR reversal. I'm surprised by that. Others must be seeing the value there too. I'd go with the flow price wise regardless.
Thus far it is a good morning. Our ZLC is holding up nicely for a potential rally intraday or eod and MOV is up too as if it might carry on its uptrend.
cmkxman
Right...........and with all the interest and speculation, it could happen too.
If you hadn't seen this yet today................Nortel Networks Corp. (NT) has received three offers worth nearly U.S. $1 billion for its Metro Ethernet unit, close to analysts' original estimates, The Globe & Mail reported Tuesday, without citing sources. Nortel, however, is still trying to determine whether its best route to profitability would be to sell more of the company. Three other companies have expressed an interest in buying all of Nortel, but none has floated a price, and valuations for the whole company appear more volatile than for the Ethernet unit. The company is also considering selling its carrier networks and its enterprise divisions. The company has also held discussions with both the Department of Finance and Industry Canada about assistance. Full story at http://business.theglobeandmail.com/servlet/story/RTGAM.20081222.wrnortel1223/BNStory/Business/home -Dow Jones Newswires; 201-938-5500 (END) Dow Jones NewswiresDecember 23, 2008 08:23 ET (13:23 GMT)