NewStream Energy Technologies Group Inc (NSGP)

[trader53]

sjames41, I went back to my earlier posts and found what I had written on April 14th, after the stock had peaked at 0.185c on April 12th.

http://stockcharts.com/h-sc/ui?s=CCTC&p=D&yr=0&mn=3&dy=0&id=p15217886805

Things didn't look right to me.

There was an extreme amount of optimism. The opinion view was very BULLISH at 100% BUY.
The stock had staged 3 waves over the prior 2-1/2 weeks, meaning it was topping.
Also, the Money Flow Index had crossed above the 80 line.

The following, was the post I had made:

Posted by: edurk Date: Wednesday, April 14, 2010 9:23:03 AM
In reply to: daytrader2004 who wrote msg# 11640 Post # of 21730

Of concern right now, is the fact that the stock can't stage a sustainable rally on positive news.

That being said though, all it would take is the release of the news of revenues to change things dramatically for the better.

For now, the stock is locked in a wide trading range, between .10c and .185c, and needs a catalyst to breakout above .185c


BTW, every week and every day changes the short-term outlook, so what I see one day, can change the next day. For myself, I'm not interested in trading CCTC on a short-term basis for a meager $1,000 profit. I am in CCTC to trade off of a move of much higher amounts. I'm interested in selling my shares on a move where the stock makes a 10-fold move.