is ... YES - Another Profitable Day!
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Impressive but, I can't find any reasons to buy on the chart right now. All I have is reasons to sell.
And I'm suppose to know what bk stands for? BLACK, maybe? So, you're prejudice, so what?
Sure there are safer trades but, there are not many where you can invest $100 and have the potential to turn it into $5,000 in less than a year. I'll take those odds anytime.
Sorry this chart is a little late - I was too busy most of the day to answer any iHub posts - TSTRQ gave a nice buy signal back at the beginning of this huge run up (more than tripling in price) but right now it looks very top heavy and there are two gaps on the chart can easily be filled so, I expect a price correction here. The strongest evidence is how overbought the market is and the fact that it's building a descending triangle. Here's the chart ...
TSTRQ - 15 min Candlesticks
I believe you. I don't buy anything recommended in any newsletter unless I agree that technically it looks like a good time to buy or I might sell it short if it looks like a good time to sell.
A Classic Double Top Formation - for those of you trading this market who did not take profits or reverse your position in the Gap over the last three days, then in my opinion, Today is a Great Day to SELL for a move back to at least the 200 day SMA!
Chart and comments follow ... SIRI - Daily Candlesticks
For a stock that just doubled in price in only 3 days, you folks do seem just a little bit NEGATIVE you know what I mean?
I thinks it's a good day to take profits and rejoice. There are two gaps on the chart to be filled now so Chill out and enjoy the rewards of having bought low.
If you took profits yesterday based on the wedge, this is probably just a normal market correction and our old friend Fibonacci should be able to provide a good reentry point for you. The chart I posed appears to be updating itself here so, if you check it, you will see that I added the retracement tool. $2.78 to $2.82 or there about appears to be a decent reentry point.
Good information. Thanks! 30% sounds way too high but perhaps I'll give the benefit of 20% if a try to estimate EPS again. Don't for get that they have a great deal more expenses shipping from a foreign country to the states than shipping from the Great lakes for instance.
Not hardly. It's not going to see $0.0039 for quite some time. It's more likely to retest $0.0016 before it gets up into the $0.003s.
Well it wasn't a double top but, now on the 60 minuet chart I see the RSI Overbought, an exhaustion gap, a strong bearish divergence between the price and the stochastics and on the daily chart We still have resistance at the top of the channel to contend with and it looks like the bears were in control all afternoon. Once again, I don't really see a market bottom here. It still looks like a bear market to me.
You never stop learning. That what makes trading interesting.
When this market is ready to turn around, I'll let you know. In my opinion, it's not ready yet.
What do you mean? I am trading. You won't see me making very many comments during market hours unless I have a comment based on an intraday chart that I feel is critical.
Well, you see the problem is you cannot base the value of a stock on "are going to be", you have to base the value of a stock on current earnings. The market anticipated what it thought the earnings would be and drove the price up to $0.005. But, no earnings were there so, the price is again dropping down. Any news that can be directly related to price might stabilize the price some what but, that won't last long until the earnings are visible on a quarterly or annul return. This current rally on very little volume is not significant enough to be a change in the trend which is down at the moment. When that rally comes it will be on high volume.
How exactly are you determining the accumulation?
I only use Accumulation/Distribution and On Balance Volume to confirm other indicators. Those two indices are computed differently so they can be seen going in opposite directions on occasion. Neither one of those indicators is computed correctly in my opinion. But, I have no way of changing the formula and when the market is in a consolidation phase, both of those indicators can give a valid reading. But I only pay attention to them when it confirms what the stochastics are saying.
I can’t speak for the company but, I can tell you what I read in the current issue of Elite Stock Report published by Colin McCabe. Of course you need to realize that Colin’s primary motivation is to sell newsletters so he is liable to print anything. But, here is what he said about TUFF:
“Tufnell Exploration could become our TOP performing gold stock of the decade. This company is sitting on something that no other junior gold company has, a newly discovered drill intersection that’s loaded with gold.” They went on to say that the price of the stock could multiply by 15 fold in as little as 21 days.
As a technical analyst and trader the thing that bothers me about today’s and yesterday’s rallies are that they were founded on low volume. That tells me that either the Elite Stock Report was correct when they said no one knows about it yet because the company has not yet announced it, or the hand full of people who subscribe to that news letter (of which I an not one) are buying up this stock with their life savings.
Since I trade stock technically, I do not see any reason to get too excited just yet because the buy signal what was given was a little unorthodox and again it’s all talking place on low volume. So, I would like to see some confirmation that this really has some substance first.
It appears that resistance is holding here based upon today's close and there a gap on the chart between yesterday and today so, I’d like to see if that gap gets filled and watch what happens next. It’s possible that price will enter a trading range here and wait for an official news release.
So, you can consider this a rumor since I have no way to substantiate what’s in that newsletter that was shared with me.
See Chart Below: TUFF - Daily Candlesticks
I guess I should not comment on the 5-minute chart! IT tends to move while I'm commenting on it. So, let's look at the 60-minute chart. Here we see a breakout of the bear channel but, close at hand is resistance from the Breakaway Gap accompanied by resistance from the 200 hour SMA. I view this rally as a normal price correction following the down move. That seems quite reasonable to me considering it is taking place on very low volume. But, this rally could change things somewhat. I believe the price will most likely fail to get through the gap. If the price should enter the Gap, there is resistance on the opposite side of the gap as well. One way or another the chart still looks bearish at the moment.
What can happen now? Well it's possible now for the market to enter into a trading range that could move sideways for several weeks OR it could continue the bear trend after failing to pass the gap resistance. If the gap is filled and the market turns around it would be possible for a retest of $0.0016 to fail as well but, it's way too early to try to call that.
It is extremely doubtful that this rally will last long enough to achieve new highs. It is most likely that the price will meet with strong resistance at the gap and will turn and continue back for a retest of $0.0016. That's my opinion. Here's the chart ...
TYTN - 60 min Candlesticks
Well, if you look at the 15 minute chart there is a broadening price pattern forming and a potential diamond formation as well. There is also a bearish divergence between the stochastics and the price. If you then switch back to the daily chart with that knowledge, it looks a lot like just a bounce in a bear market. So, I took profits this morning. I did not annotate my chart on this one but, if you do not have access to intraday charts, I can do one quickly for you. URG (another uranium stock I watch) is showing exactly the same patterns. So, I guess it's not time for a Uranium rally quite yet.
Thanks, I did manage to stumble on to an annual financial report of sorts but, I got to tell you that with the number of outstanding shares, that pitiful little net earnings or profit figure is just about the same as no earnings at all. When I tried to compute the PE ratio on Windows calculator it came up as some long string of numbers followed by a 10 to the -6 exponent. In other words, you can't calculate in English.
So my analysis stands. It's up again this morning and shows firm support at my two Lunar moving averages that are crossing here and we could easily see a rally above $0.0014 but, I still believe it will meet with resistance at the 200 day SMA currently at $0.00143. The thing to do is watch the 15 minute chart when it gets close and see if there are any clues about where the price will go after that. for not we have nice rally underway.
Funny you should mention the MOON because my ELMA (exponential lunar moving average) which typically marks the resistance points for a stock once it turns down (and it has turned down) is sitting at the high price for day for CWRN so far this morning. Just a point of interest that I'm sure you wanted to know!
I'm confused. The bottom of iBox??? are you trying to say click on the Financial Icon below your post? I did that and it told me NO financial information was available. Am I missing something here?
Do you answer other people's posts when they ask you for additional information or a better explanation or to post a chart, etc? That's all I'm doing here. I was happy when I said Adios after my first post but, several people wanted to know more about how I came to my conclusion. Hence the additional posts. You are not obligated to read any of them now so, CHILL out Taco! ROTFLMAO ... LOL Chill out Taco, I tell you I crack myself up! Whoever heard of a chilled Taco for crying out loud?
Well perhaps you know something that I don't. Where did you see that posted? I can find no news relative to earnings and the company did not file an Annual Report with NASDAQ so, how did you find out about their earnings? Thanks!
Ok, let's talk fundamentals ... http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64868775
Yes, I called that point in time quite a bit different. You can see my analysis here: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64868775
I think that's why the NASDAQ slap their hands back in January.
Yeah the 60 minute chart. But, it not even close to being an ascending triangle. It's perfect V. That spells Double Top to me!
Anyway, we will know by the end of the day Tuesday.
The REALITY - Chart and Fundamentals - Ok, so I agree that CWRN may be the safer of the two companies to invest in but, not on Tuesday of this week. Come on guys, with all the shares you own in ORRV, you have to feel safe in that one too, don't you think?
Ok, let's take a look at my Daily and hourly chars (below) for CWRN and I think you will understand why I'm not very optimistic about this stock rising in price anytime soon. It should also be noted (which I included on the chart) that back in December of 2010, the company projected 1st Quarter Revenues of 32 million. I don't think they even came close to achieving that and as far as I know they have not said anything about it. But, lets assume that revenues did reach 32 million in the first quarter. With 4.3 billion shares outstanding, that would only amount to approximately $0.00744 revenue per share. If the company was able to manage a 10% profit, that would give them an EPS of $0.000744 and if we conservatively price CWRN at 20 times earnings, the price of the stock would only be worth $0.01488/share. So, the price closed at $0.0085 on Friday and like I said, I do not believe they even came close to seeing revenues of 32 million first quarter. Someone or a lot of someones must know that and that is why the price is not going up here. Technically speaking, the chart has been screaming SELL since the end of January when the company tried to smooth over the bad news from the NASDAQ. So, that issue appears to be resolved but, still the price declines and the charts continue to project lower prices. Just based on the chart I would not be surprised to see prices fall to around $0.002 and in the absence of any news which can be related to earnings, It could conceivably drop to $0.001. That is my opinion.
Two Charts Follow: Daily chart and Hourly chart respectively ...
CWRN - Daily Candlesticks
CWRN - 60 min Candlesticks
I don't dispute any of what you say but, I think it was a mistake not to learn and use the new charting technology when it became available on the Pink Sheet markets. Your competition, the other people who trade this market who do use charts now have a distinct advantage over you. For instance, if you were to look at the 60-minute chart of CWRN, it became quite obvious back round June 22 & 23rd that you should be taking profits and/or selling this market short. I know you don't understand that, but, that is what a savvy technical analyst would have seen on those days in the 60 minute charts. On June the 30th, the 60 minute chart confirms a longer stronger sell signal (and a Double Top) that began to form back on June 21st. So, technical analysis, does give you a distinct advantage in trading Pink Sheet stocks. The rest of this week, you should see prices go lower because of selling decisions were being made and executed 10 to 15 days ago.
Just my opinion John. You are welcome to disagree. I'm not often wrong however. The charts pretty much tell it like it is, you just need to be able to see and understand what it's saying to you. Sort of like learning a new language.
SAVW - Not likely to close above $0.0042 (top of bear channel). In fact, the ADX/DMI and Stochastics on the 15 minute intraday chart suggest a pullback beginning on Tuesday. The same thing can be seen on the 60 day chart where a clear Double Top appears to be in place and a bearish divergence is evident now on the Stochastics and is confirmed by the ADX/DMI and Williams %R showing weakness and providing confirmation of a drop in price beginning on Tuesday.
On the daily chart, this stock has been in a well defined bear channel for sometime now and there is no indication that this is about to change unless this new drop in price should confirm support at $0.001 on strong stochastics and high volume and provide a double bottom price formation and a strong buy signal. If that DOES NOT happen, I believe the stock will drop into the "000" prices and look for support there. The downside risk now however, does appear to be limited by the extremely low prices if nothing else.
On the upside the weekly chart does show last week as a Key reversal week on high volume and at the lowest price for several years. So, on that alone I would say that a pull back this week will most likely result in a market bottom of some kind. If not a double bottom, then a W-bottom where the support this week would be higher or lower (more likely) than $0.001 and a Key Reversal day on strong volume would provide a new direction for the price long term. Even given that scenario, it would be doubtful that a follow on rally would not meet resistance at the the top of the bear channel before consolidating and eventually breaking through. The next resistance would naturally be the 200 day SMA. I'll try to work up some charts with comments for this post but, I do not have a chart notated at this time.
I hope your heart (and especially your pocketbook) are not broken when CWRN closes lower on Friday this week than it did on Friday of last week. You should not be so quick to criticize that which you do not understand. The right response is to try and learn everything you can about it first. That way when and if you do elect to criticize anything you can at least do it intelligently and present evidence to support your case. Oh yeah! By-the-way, had you provided the full story on ORRV, you would know that did not buy into that market based on technical analysis. I bought into it because in my opinion, it's a no brainer and there is no way, at the price I bought in at that I can lose money on that stock. Sometimes, you just have to go with your gut based on what you know and what you feel.
As ye believe so shall it be done unto you! If you continue to believe that chart are not good in a Pink market, then you will never learn anything about charts because of that belief and you will in turn suffer the consequences of your ignorance. I know they work! They work in ALL markets. And they work well in advance of the news and are extremely accurate most of the time. You don't have to believe it, but, from my perspective, they are the only way to trade a Pink Sheet stock because most of the news is only propaganda.
Oh contraire! The news is mostly propaganda. When there is news about to be released that is hugely bullish, the people who have the greatest interest in the stock already know in advance what a company is doing and what results they are seeing and how that will affect the price of the stick so they do not wait for the news they position themselves well ahead of the news and the buying and selling that takes place as a result of their belief in which direction a stock is likely to go is all reflected in the charts. Since technical analysis is a study of price movement, the direction that a stock will most likely go next is already displayed in the chart patterns and technical indicators and no amount of bullish news can turn a market around but, temporarily when it's momentum is already moving in the opposite direction. There have been many examples of situations where a hugely bullish new article was released and the stock would respond with a rally but, by the end of the day that rally would fizzle and the following day for the next several week the price would head lower in spite of the news. Usually the only time the charts are wrong are when the analyst misinterprets them.
That might be the case, I didn't read the would article. The charts say the price is headed lower here now and that's the point I want to make.