interesting staying abreast of all the blogs. (people pumping, people trash talking/shorting)... helps to try and find a reasonable middle ground, somewhere between the two...
currently daily check here, Yahoo (contrary to what I've been reading, it's not too negative; or just hasn't been lately) and the Lion (pretty sparse).
Any other recommendations??? I used to troll for news articles on seekingalpha and the like... but too much space between news on stocks like CCME.
CCME chart for the shorts. (( I am using mtcinc0's chart style to prove my point and because I am deviating from volume-moneyflow chart )) You shorts are trying to get a 3rd low in the falling wedge before the 1st week of January. You are playing a very dangerous game as indicated on certain indicators I have annotated to highlight for your benefit. The resistance 'envelopes' of the PPS MA(4) through MA(15) looks sourt of squeezed at this time too. I say squeezed with intention and added inflection that I hope is not lost upon you. I hope you succeed to bring it down to $13.50 at this miserable, low 'end of year sucker volume'. Because when the big players return in January there may be blood in the streets and they won't settle for anything less than $30 by the 1st week in February, IMO.
Falling Wedge http://www.investopedia.com/university/charts/charts7.asp The falling wedge is a generally bullish pattern signaling that one will likely see the price break upwards through the wedge and move into an uptrend. The trendlines of this pattern converge, with both being slanted in a downward direction as the price is trading in a downtrend.
From the above, one can see that a wedge is similar to the triangles, in that the price movement bounces between the two trendlines, which are bounding the price movement.
Another thing to look at in the falling wedge is that the upper (or resistance) trendline should have a sharper slope than the support level in the wedge construction. When the lower (or support) trendline is clearly flatter as the pattern forms, it signals that selling pressure is waning, as sellers have trouble pushing the price down further each time the security is under pressure.
The price movement in the wedge should at minimum test both the support trendline and the resistance trendline twice during the life of the wedge. The more times it tests each level, especially on the resistance end, the higher quality the wedge pattern is thought to be.
The buy signal is formed when the price breaks through the upper resistance line. This breakout move should be on heavier volume, but due to the longer-term nature of this pattern, it's important that the price has successive closes above the resistance line. ****DISCLAIMER****
He drew charts & TA But they were rotten And that is why He's now forgotten.
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