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Wednesday, 02/17/2010 5:48:00 PM

Wednesday, February 17, 2010 5:48:00 PM

Post# of 94140
Hey Alan......thanks for the private message.....i need to get an upgrade so i can post privately.......i want to answer your question though, but i respect your privacy, so i'll just summarize what i'm thinking and you should be able to find your answer.......looking at the charts from a purely technical perspective this is overbought.....today's candlestick pattern was very bearish.....whenever you see a lg. red candle after a run, this signals a change in direction......stocks almost always pullback after a LG. RED CANDLE after a big run up.....when you see that big red candle you know the rally is finished......this isn't to say it won't rally again, just that there will be a pullback and some consolidation first......today's PR did nothing to help the stock....on the contrary it pointed out everything wrong w/ it....no ready for market product.....a third party investor relations firm (they pay them w/ stock, the "pumpers", who in turn sell on the open market, dilluting the stock)....for the trip to ASIA their goals are 1st:to sign a supplier agreement for the products controller.....meaning they don't have an agreement yet....and to coordinate factory funding and production schedules for a sample run before they can commence full production.....this means not only do they not have a finished product, but they don't even have factory funding secured or a sample product and they're actually making revisions and adjustments....this tells me they are a long way from a market ready product.....it's still in development.....it will be several weeks until they return from Asia according to the press release, meaning: WHAT'S GOING TO MOVE THE STOCK IN THE MEAN TIME?......i'm also skeptical about them not releasing the info. on their product.....if they are protected by patents, why would you be afraid to let the shareholders know what they are purchasing.............being up front and transparent should be fundamental to any legitimate business.....i'm expecting a pullback to fill the gap and actually retest the breakout level of 0.008....that's where I'll be looking to enter for a fib retrace.....the gap will be crucial and he may bounce from there, so I'll watch that closely and will look to make a trade there.....if i was sitting on some profit i would look to sell and reload LOWER.....there's no reason to ride it down and lose any gains one might have.....i'm sticking to the motto, trade it/ don't marry it......there's nothing worse than watching your gains disappear......it's the cardinal sin in trading.....so, when you have a profit you've got to take it.....today was a perfect example of that........also, a lesson that's been difficult for me to learn is, your first loss is your best loss.......when you see things sour, the quicker you can get out and lock in your gains or mitigate your downside risk the better........if your wrong you can always get back in..... but if you're right and the stock does continue to tank you would have saved yourself alot of money.........it's a tough game and takes years to master, but if you stick w/it you'll be able to make money in the market for the rest of your life........good luck to you and if you ever have any questions, please don't hesitate to ask$$$