I should have watched OMVE more closely. Hey topfuel I decided to respond to your PM about OMVE on the board. I like accountability and Lowtrade has more experience than I. I typed it as a pm and then copied and pasted it. 1am here... hope it makes sense :-)
On Wednesday morning I alerted it to some friends that trade also. I still have my money elsewhere and am wondering why. Now, I'm watching OMVE more for my on educational enrichment (to see if the Adam and Eve pattern plays out).
The optimal time to buy was when it closed above the neckline again just above the .40 (see t/a link below) The next resistance point is .51 area (from August 2011) I would expect a pullback soon based on that. Each of the last 4 days had a morning dip. I would expect the opposite on the day that begins a pullback (a little run up instead, though don't count on it). There is a factor that may mess with the Technicals. A hard mailer touting OMVE as potential 2000% gains is in circulation. http://www.wdyinvestorsguide.com/omve/ I still think that somebody with a boatload of shares will eventually hit the sell button and a retrace to the 20sma or 50 ema would give a better entry (just for a swing trade)
I said all that to say; I'm not sure how it will play out. I usually look for pullbacks and Lowtrade seems to go more for the breakouts beyond a previous resistance. I suppose the middle ground would be a retest of the .40 I would get in at that point (if it holds). Most all the oscillating indicators are in overbought territory (80 + and the Williams %R maxed to above the -20 ). Also it's riding the upper bollinger band very tightly and that says to me a pullback is due. On the other hand, It is only 2 days from a golden Cross and that should also give it a boost.
This post is not advice, blah blah blah.... just saying what I would do.
It could go to the moon without you, Learn from it anyway. And don't chase it. Make it come to you so you can rest in the fact that technicals work. Gains made intentionally can be made over and over. Accidental gains are rarely thoughtfully repeatable.
I personally like to get in at the bottom and go up from there. I've not had many good experiences with getting in at the top. The projected chart pattern target of .73 (IMTAO) does not eliminate retraces and consolidation. Summary is that I would expect it to bounce off the .51-.55 area and retrace to test the .40 to see if it is now a support. Previous post about OMVE: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=74687378
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