bka58
49 posts
msg #29265
- Ignore bka58 |
10/10/2003 1:35:04 PM
Thanks!
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bob79924
38 posts
msg #29587
- Ignore bob79924 |
10/31/2003 9:14:29 AM
Re sharing:
I agree on doing it. In the market you won't lose by sharing because more will jump on the bandwagon if you have a filter that works. I'm reading all the mail and when I get confident enough and have something you guys didn't already post first, I will surely let you know about it. As of now, I'm still way behind you all. Also way behind on the size of my account, so I'm still working the penny stock region and welcome any ideas in that area.
Somewhere in all the postings I mentioned that I had bought WGAT and would let you know what it did. Well, I was in at 0.59 and out at 0.90. The big jump scared me out, I guess. The profit percent was okay, but the time wasn't. I was in too early and held it about 2.5 months. Still learning.
Bob W.
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EWZuber
1,373 posts
msg #29591
- Ignore EWZuber |
10/31/2003 12:49:07 PM
bob79924
I remembered discussing WGAT a while ago and it is always interesting to see how past recommendations work out. Went looking and found this. Turned out to be a good call.
"EWZuber 8/27/2003 1:33:54 PM
bob79924, I like it. It's a huge spec but looks like the technicals are in your favor for now, long and short term. With 'Monthly' stochastics in accumulation, 'weekly' stochastics converging at a cycle bottom, and 'daily' stochastics beginning a new accumulation phase these 3 will shortly all be in phase. Combined with improving EPS ( smaller losses ) and an increase in volume, this one could really go places for you. JMHO"
"EWZuber 8/27/2003 4:18:35 PM
WGAT does trade thinly, too thin for me but thats a personal decision. I think a position at $0.44 would be a good start, looking for a double bottom to form on hourly chart. If it breaks that as support i would be out till a bottom forms. The stock is oversold on hourly charts & selling volume seems to be drying up."
Looking back you can see the double bottom even on daily charts between 8/26 & 8/28 but is less conspicuous than it was on intraday charts.
The stock never went below that level.
It was a combination of stochastic phase relationships and the short term bottoming pattern that nailed this one.
The Monthly chart stochastics indicated a long term move higher. The weekly and daily chart stochastics were both oversold with the fast and slow lines converging to attempt a +xover in almost perfect phase with eachother, indicating excellent odds for a shorter move higher with building momentum. Hourly chart Stochastics were oversold also indicating a short term bottom with a bottoming pattern potentially forming on hourly & 5 minute charts. This combination made it possible to nail the entry down to the penny.
This is the advantage of using daytrading techniques to pinpoint entries combined with end of day, weekly and Monthly term charting.
It makes for a disciplined entry along with clear exit strategy even before the trade is executed. JMHO
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