Replies to post #9344 on MedClean Technologies, Inc.(fka MCLN)

[viking69]

lets say I don't care for him much (if no $ his charts are boring)

JMHO

[levelnever]

I actually did as well. Don't get me wrong I really like what claytrader does, but I don't think he is a pyschologist or an editorialist. For chartists, the charts tell you what traders are thinking, not your gut. The charts are saying this stock is bullish and until it proves otherwise, people are interested.

Seems to me we are following a bull pennant pattern to a T. Do others agree? Now what we need is volume, we get that and this is off.

Here is an explanation for those who don't know:
http://www.trending123.com/patterns/bullish_pennant.html

[ChartPoP]

Sometimes the apex of triangles can get boring...

TICK TOCK imo!

GO MCLN!

[Slyder75]

Absolutely. I thought that technical analysis was to leave emotion out of the trade thought process...

I found that odd too.

[stocktrader001]

yes but i dont know what that should mean. maybe he bought in and is unpatient now?

edit: or he said peaple may put their money somewhere else maybe he wants the holders to sell to get cheep shares? :P

[milo3]

smitter, Re. ClayTrader's 'boredom' comment. Typically the direction (up or down) of the second movement of an ascending triangle points to a breakout in the same direction at the triangle's conclusion. MCLN'S second movement was up and that's most likely the breakout direction.
Triangle moves are most often periods when investors await either positive or negative news. If news is not received in generally the expected time frame the triangle will breakdown and the pps will leave the horizontal formation. That horizontal patterns can not continue indefinitely is a given. Considering that penny stocks are often owned by investors with a shorter investment horizon the tendency is that these short termers get 'bored' or (possibly better) impatient and begin leaving for greener pastures.
Clay's chart interpretation seemed OK and appeared to be based in good fundamentals although he might have used impatient rather than bored.