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Sold BLTI for 15.54 she gave me .37. Lcav moving well near my entry price of 22.66. Where is the climax selling normally associated with a bottoming process??
MT
Comments from AI on WED
It looks to me that we may see a substantial move occur either tomorrow or Friday. We are approaching the end of the 1st Quarter for 2004 so we have to be on the lookout for the Institutional Money trying to rally the market into Month end. Also we are due for a bounce from oversold conditions as well so in my opinion it's a question whether the major averages test their 200 Day EMA's first before the bounce occurs or whether they will just begin to rally from their current levels.
Over the past three trading days the Dow has held support near 10000 (point A). If the Dow rallies from its current level look for a quick surge up to its 100 Day EMA (green line) near 10220. If it rises above its 100 Day EMA then it will probably rise back to its 50 Day EMA (blue line) near 10360. Meanwhile if the Dow breaks below 10000 look for support at its 200 Day EMA (purple line) near 9870.
The Nasdaq has been holding support just above its 200 Day EMA (purple line) the past three days near 1900 (point B). If the Nasdaq rallies from here I would look for a quick rally up to its 100 Day EMA near 1980. Meanwhile if the Nasdaq doesn't rally and drops below 1900 look for support at its 200 Day EMA near 1880.
The S&P 500 has been holding support near 1090 (point C) the past three trading days. If the S&P 500 starts to rally and can rise above its 100 Day EMA (green line) near 1104 then look for a bounce up to its 50 Day EMA (blue line) near 1125. Meanwhile if the S&P 500 breaks solidly below 1090 then look for support at its 200 Day EMA (purple line) near 1064.
One reason I think a decent move is coming in the major averages is based on the Volatility Index (VIX) which has developed a Symmetrical Triangle pattern on a 30 minute chart over the past few days. Thus it looks too me the VIX is also getting ready to move strongly in one direction or the other.
If the major averages begin to rally before reaching their 200 Day EMA's I would focus on the QQQ's for a momentum play to the upside. If the QQQ's can break above the 34.75 area I would imagine they will rally up to the 35.75 to 36 range which coincides with their 100 Day and 50 Day EMA's. Your Stop Loss Order would be placed at the 34 level (point D) in case the QQQ's fail to break out to the upside.
If you have been shorting anything of late you might want to consider exiting positions if we see an upside reversal tomorrow or on Friday.
Amateur-Investors.Com
Bear did you buy TMTA?
MT
Lets talk about boxes!! What is your box on BLTI a stock that has been quite boring for sometime. In fact I'm annoyed with her and might take my wrath out on her by not buying her untill she has more volatility.
Thanks
MT
Thanks for the advice
MT
Bear it is trying to get there and I've been waiting to add to my 1st serve of 15.17. In fact the way we are going now it looks like Thursday could be the day.
MT
Thank you for the info I was aware of Hager but market has made me jittery so I got out to soon but it was still a profit.
Zeev makes these OBs so low I fall asleep waiting for them and have decided to add a few pence to them so I can get some trading practice. <g> Thanks again.
MT
and there she goes. <g>
MT
Sold SNDK for 26.40, .55 since pre market. Maybe she will get rolling since I sold.
MT
Bought Sndk at 25.85 didn't get all of what I wanted but some is better then none, I think.
MT
Bought Blti at 15.17.
MT
Zeev have you looked at Lexr, Blti or Lscp recently. Thanks
MT
Lcav very solid and as I speak 10,100 taken back on Dow. Whoops now below 10,100.
MT
Zeev they had a write up in the Atlantic City Press about Joseph Kovago of which I thought you might find interesting. He lived until his passing for 25 or so years in the community which I have lived here on the Jersey shore since 1947.
MT
Zeev thanks for improving my vocabulary over the past 6 months.
My 15 year old son wondered why my word usage had improved. Ihub should include a dictionary with the script. <vbg>
Dr Stoxx do you have a position in Jnpr? It has come a long way in 6 months and looks like it could easily drop to 22.50 or so. What do you think?
Thanks
MT
to da moon I realize your intentions where not meant in a negative way. I trade 500 to a 1000 shares at a clip. I'm not professional at this game an never will be. I have wondered myself how many shares people trade. I enjoy this board and its honesty as well.
MT
What is wrong with a .45 profit on 500 shares. When I first started working that was what MDs made weekly. <g>
MT
Zeev Blti seems to have lost its GUSTO like it needs an iron shot. Bear may well be right about the 14.50 area. Lcav hanging in well I'm looking to double my postion from 22.66 when we have the swoon. I'm also looking to buy more GLG but not yet. I'm scouting for some new items but nothing hot yet.
Notice I don't mention my prices because you might bid a penny higher then me and I wont get my shares since they will go up upon your purchase.
MT
Sold BLTI at 15.99 for a mere 19 cents and gave back 21 cents on BEAS. Cost me 2 pennies for a little education not bad. Lot less then it cost my parents and me back in the late 50s and early 60s the days of real money. <g>
MT
Bear that makes me feel better.<g> Have a good day. If you had said NO I wouldn't have wished you a good day.<g>
MT
If and when BLTI moves to 14.50 would you be a buyer?
MT
Thanks Newly for your info looks like some excellent buys ahead.
MT
Bought serving of BLTI at 15.80. Taking a few positions today so I'm at least exposed.
MT
BLTI is getting quite reasonable as well Lexr.
MT
Maybe a late lunch!!
mt
Bought Beas at 12.71.
MT
Porter
BLTI has been my favorite money maker along with GLG this year. I feel we have a very tough week to look forward to due to al-Qaeda type attacks going on in the world. I feel the European markets at the best will go sideways and probably down.
If I lived accross the pond my money would be in cash. I being a mere rookie at this game presently have 75 to 80 percent of my accounts in cash. Momentum is down and Zeevs map looks very good to me. The trick now is not to buy way to early, so I will scale in when I see some blood in the streets.
Regarding BLTI where is your OB? Have a good day!
MT
Zeev quite a bit of their work followed your maggot lines so I knew they had be a great service. <g> I have tracked the cup and handle situations that they present and it is amazing how many times that technical trading situation works to perfection.
I have traded those cups a few times in the past and have done well, prior to being hooked with this board. If you don't do better with your calls I will go back to my boring cup and handles. <VBG>
MT
Bear excellent site I've been using it for over a year. What do you think of their work??
MT
Stow a friend of mine told me that they charge $15 a quarter if you have under $3000 in the account.
MT
gloe do you have the link.
Thanks
MT
Lee I watch Bloomberg and I'm mostly cash so I feel quite comfortable, Thank you,
MT
Lee looking grim is there a ray of sunshine anywhere?
MT
great trade and it took big ones.
MT
I've been watching BLTI as well LCAV, LEXR and LSCP. They just dont want to break, yet!!
MT
Lee very interesting company bought some.
MT
ZEEV fwiw
BioLase Successfully Completes Secondary Public Offering
3/8/2004 2:54:00 PM
SAN CLEMENTE, Calif., Mar 8, 2004 /PRNewswire-FirstCall via COMTEX/ -- BioLase Technology, Inc. (BLTI) , a medical technology company that develops, manufactures and markets lasers and related products focused on improving dental procedures, announced that it has successfully completed its secondary public offering of 2,807,500 shares at a price of $18.50 per share. The offering included 2,500,000 newly issued shares sold by the company, and 307,500 shares sold by American Medical Technologies, a stockholder of the company. The proceeds of the offering were received by the Company on March 3, 2004.
Federico Pignatelli, Chairman of the Board of Directors of BIOLASE commented, "We are pleased to have completed this important milestone in the Company's development. During the years I have been the Chairman of the Company, BioLase has come a very long way. It is my belief that the next years will be very exciting and rewarding.
Jeffrey W. Jones, CEO and President said, "With the offering behind us, we can focus our resources on the business. We believe our balance sheet is now more in line with our sales growth. We intend to use the proceeds of the offering to add strength to our growth, and flexibility to capture marketing leverage, and grow the company in a healthy fashion."
MT
Sold KlIC March 15 Puts for 2.80 a nice 1.60 profit. Tough to trade but I'm afraid to short the market. Mostly cash. Thanks for the road maps Zeev. EDIT KLIC
MT
I'm following your map if the NAS is below 2000 by expiry day where will MAXF, BLTI and the like be then. Not being as nimble as you yet if ever I take profits quicker. <g>
MT