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Well, nothing is certain, but unless we bounce back up above support today, which is currently resistance, that's the possibility.
Looks like we could be headed for low $4's now. Gap fill at 4.13, fwiw.
Ditto on QRM...yes... again. These are buy & hold stocks and not trades, imo.
I think UEC is a buy here today. Don't know if bottom is already hit at 3.27, but my buy price was 3.26. Just missed it. The 3.12's were BS.
Major Molycorp Rare Earth Supply Contract is Modified to Better Reflect Current Pricing
http://www.marketwatch.com/story/major-molycorp-rare-earth-supply-contract-is-modified-to-better-reflect-current-pricing-2011-07-28?siteid=nbsh
Major Molycorp Rare Earth Supply Contract is Modified to Better Reflect Current Pricing
http://www.marketwatch.com/story/major-molycorp-rare-earth-supply-contract-is-modified-to-better-reflect-current-pricing-2011-07-28?siteid=nbsh
Nice to see you Frank. No worries at all here.
Exactly. And it was 28,925 all trading at 2.12 with PERT showing only 500. That's not to mention the 1100 that traded at 2.13.
The manipulation just gets more obvious. Look at all the shares trading at 2.12 and JBII only ever showed 500. There are new rules that state that the MM's atop the bid/ask have to show full size, but they do not. Always loopholes with these jerks.
JBII: This could be setting up to be a much larger adam & eve formation. The smaller one played out perfectly on the 5 minute chart. Now there might be a much larger one playing out on the 15 minute chart. You have to keep in mind that the gap down is all price action, even though there are no candles there. So, this move we had down to 1.50 and up to 2.39 could ALL be the Adam portion, (which looks like the "V" on the chart, the left side formed with the blue line I drew and the right side formed by the candles).
Now watch and see if the "Eve" portion forms during the rest of the day. If it does and we get that "U"shape with some consolidation and a move back up to 2.39, then the breakout move above 2.39 can get us back to 3.28, although not probably all in one day.
Keep your eye on it.
Gap fill for JBII is at the bottom of yesterday's candle @ 2.27. Gotta run...
I bought more. Avg is $2. I'll update the chart after the close. I did an intraday update two posts below this. Back to trading...
I tried Brent but IB wasn't being accommodating. What a game!
I did get more at 1.95.
Fun times on the JBII board today. I'm sure there's no manipulation going on at all! LOL Tried to buy today from 1.60 to 1.80 but IB wouldn't fill my orders. Funny how that happens, not. Anyone happen to know of a broker that isn't involved in the manipulation games?
As for the chart, looks like we're currently breaking up out of a adam & eve bottom. We could fill the gap at 2.27 and keep going up to around 2.50 - 2.60 if the momo comes in end of day. Need to get through 2.10 first, then I suspect we'll fill that gap.
JBII Intra-day updates
First chart shows horizontal support areas in case we drop. Note the MA's on all the charts for support areas as well first thing in the morning.
Second chart shows horizontals and MA's.
Most of the overhead resistances posted on charts earlier today still stand as overhead resistance, save any moving averages which will adjust a little.
I'll put some more charts up tonight. Off to a movie for now...
Have a good one Harold.
Don't have a clue who you mean Harold.
I don't know. Here are my guesses...
3.25 - 62% retracement of the drop from 4.20 off of the 1.71 low.
2.95 - 50% retracement of the drop from 4.20
2.89 - 2.84 - Horizontal resistance line & 20ema on the daily chart
2.66 - 38% retracement of the drop from 4.20
Support:
2.48 - currently the 9ma on the daily chart
2.45 - Horizontal support from the ascending triangle
2.40 - 2.25 - Currently the 20ema's on 15 & 60 minute intervals, but in strong up trends now.
" I'm a much uglier dude!"
You're welcome & thanks.
It's a level II window and yes it's part of my trading software. The girl in the photo is Rebecca Romijn. I'm a much uglier dude! LOL
Here's a chart for ya...
So far I like this steady, low volume decline. HDSN hasn't moved from his 3.53 spot on the ask which is a good sign and we've got size coming in here on the bids.
2.08 is my line in the sand today. It's the 62% retracement of yesterday's move. 2.155 is 50% and would be even better if it held. As long as we hold that I'm happy.
We've got some early signs of a trend reversal, those being the high volume capitulation at the lows last Thurs/Fri, shown on the hourly interval chart I posted yesterday, the cup & handle bottom formation we broke out of yesterday, price above the 20ema on the hourly chart, and a break above the most recent of four downtrend lines on the daily chart.
The next bullish signs to continue to support the downtrend reversal for me are a close above the second downtrend line on the daily chart and a close at or above 2.66, which is .01 over the high of the large red capitulation candle from last Thursday.
I'm off to trade some oil futures. Have a good one...
JBII for today as I see it.
Here's a daily chart with a Fibonacci retracement grid and downtrend line resistance areas. As for the downtrend lines, for today resistance exists at 2.46, 2.97 and 3.82.
As for the MA's, resistance for today exists at 2.52, 2.86, 2.95 and 3.30.
And for the Fibs, resistance is at 2.66, 2.95, 3.25 and 3.66. There is also a "lap" to be filled at 2.89 that could act as some resistance.
As for support for this morning, right now it looks like 2.30, 2.23, 2.17, 2.13, 2.07 and 2.00 are potential areas. I really want to see 2.07 hold if we get back down that far.
With under 10 minutes to go until trading it looks like we could have a small gap up. 2.46 - 2.50 is the key resistance area right off the bat and 2.17, 2.08 and 2.00 are key support areas for me for the day. If we move up through 2.50 then I think we have a good shot for 2.66. A close anywhere above that would be very successful in my eyes and move us a step closer to having a legitimate trend reversal, imo.
Keeping the charts simple...
Note the volume accompanying price highs & lows = Capitulation. A helpful way to help determine reversals/buy points. Charts are easy if they're kept that way.
I find the volume for the candle at the 6/14 $4.20 high very interesting. Makes me think someone was shorting a bunch there, although no way I can prove it.
JBII up 19.21% with a HOD close. That deserves a chart update tonight.
Thanks Harold. Too bad I flipped out of them yesterday, but I got back in earlier at 2.11. So far it's looking like we've seen the bottom.
Re the JBII 15 minute chart...
Apparently it was a cup & handle bottom formation. Nice move up to 2.35, a nickel shy of the target but this one's thin. This move was a 25% retracement of the drop from 4.20. A close above 2.20 would be a nice start for a reversal here.
Resistance points above for JBII now are at 2.35, 2.49/2.51, 2.66, 2.83 and 2.95. Some of these are moving averages and will change on a daily basis.
My pleasure.
JBII Charts
The daily chart is showing three increasing degrees of downtrend decline. The long red candle from last Thursday appears to be a capitulation move. I think shorts intentionally drove price below the blue trend line to incite more fear & doubt to encourage selling by weak longs. RSI is showing oversold.
Next up is the daily with a Fibonacci retracement grid. The stock dipped below the 62% retracement level but has closed above it for two days now, finding resistance under the uptrend line. Probably not very significant, but worth noting, a "lap" was filled that was created between the 1.92 close of 4/27 and the 1.94 low of 4/28. (A "lap" is a form of "gap" which occurs when price opens within the previous days' range but above or below the previous days' close).
Next chart is the 15 minute intra-day. The formation could be a cup & handle bottom (ugly, but possible), or it is a bear flag. Which is it? I don't know, but one possible tell is the divergence that occurred between the RSI readings and the two price lows indicated. The pink line above the volume is the ADX line of the Directional movement study. I use this line to give me a sense of when a breakout move is near. Under 15 means a move could happen any time. It does not determine direction.
I am of the belief that the lows have been seen and price will rebound out of this consolidation. The volume on the daily chart from last Thurs & Fri. give me the impression that capitulation has occurred and that price will likely return above the broken uptrend line and support will be re-established there.
If I'm wrong, some lower targets to look for support are at the 200dma on the daily chart at 1.53. If the formation on the 15 minute interval chart turns out to be a bear flag, we have a measured move target of 1.65. There is also the 78.6% retracement level to 1.37/8. I will be a buyer at any of those price points should volume provide an indication to do so.
Gold & Silver could get very exciting very soon... http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/7/19_Turk_-_Expect_a_Tidal_Wave_of_Buying_%26_Short_Covering_in_Gold.html
DNN - I think 1.86 here is a good buy point for long term uranium investors.