jthehut
124 posts
msg #28552
- Ignore jthehut |
9/13/2003 12:59:16 PM
Bollinger bands are pretty narrow...Bollinger would say this is going to move soon...which direction, I wouldn't know...
Good luck, may have to watch this one Monday.
jabba-the-hut
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txtrapper
548 posts
msg #28553
- Ignore txtrapper |
9/13/2003 1:06:44 PM
EWZuber take a look at NXXI a recent pick of mine in the stock challenge.
At SmartMoney.com NXXI "net earnings" LOST $-10 million. OK, it lost $10,000,000. Now look at "insider buying" they are snatching NXXI up right now,
so there blow's the earnings theory. And NXXI is not projecting any earnings. So why are money managers and "insiders" snatching up this stock? Because they know something we don't?
http://www.smartmoney.com/eqsnaps/index.cfm?story=insiders&symbol=NXXI
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jthehut
124 posts
msg #28554
- Ignore jthehut |
9/13/2003 1:27:53 PM
I don't know about other people, but I have "given up" on trying to read earnings into price...lots of bigger examples: RIM (research in motion) is in the 30's in the US and 40's in Canada with their Blackberry technology THAT THEY DON'T MAKE MONEY ON (yet), how the hell do you explain that?!?!? Look at their last 12 months. Insiders buy and sell all the time, but "FUTURE" earnings run the price...remember the tech bubble bursting 2000? That means companies that make "real" money, if they would trade in the 500 multiple range, should be in the thousands of dollars per share range! I have got caught trading bank shares, the ones that announce record profits every quarter, but go DOWN in price...is this short sellers covering??? Don't understand it...
M
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txtrapper
548 posts
msg #28555
- Ignore txtrapper |
9/13/2003 1:37:19 PM
Joe G. and Zuber, in Stan Weinstein's book all his references and buying decisions were made showing three and four years charts, his RSI(14) EMA(30) all work off the 3Y/W charts. He broke down stock trading into 4 Phases, Phase II is "buy".
NXXI indicates it is in early Phase II with the big volume spike on the 3Y/W chart. Plus RSI(14) is acting happy and it's above it's MA(30)on a weekly chart. Plus it's in a top performing industry group pharmacuticals. Another buy point is when the stocks starts another consolidation and kisses the EMA(30) according to Stan that's the safest point of entry.
txtrapper
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txtrapper
548 posts
msg #28556
- Ignore txtrapper |
9/13/2003 1:37:27 PM
Joe G. and Zuber, in Stan Weinstein's book all his references and buying decisions were made showing three and four years charts, his RSI(14) EMA(30) all work off the 3Y/W charts. He broke down stock trading into 4 Phases, Phase II is "buy".
NXXI indicates it is in early Phase II with the big volume spike on the 3Y/W chart. Plus RSI(14) is acting happy and it's above it's MA(30)on a weekly chart. Plus it's in a top performing industry group pharmacuticals. Another buy point is when the stocks starts another consolidation and kisses the EMA(30) according to Stan that's the safest point of entry.
txtrapper
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txtrapper
548 posts
msg #28557
- Ignore txtrapper |
9/13/2003 1:41:30 PM
Joe G. and Zuber, in Stan Weinstein's book all his references and buying decisions were made showing three and four years charts, his RSI(14) EMA(30) all work off the 3Y/W charts. He broke down stock trading into 4 Phases, Phase II is "buy".
NXXI indicates it is in early Phase II with the big volume spike on the 3Y/W chart. Plus RSI(14) is acting happy and it's above it's MA(30)on a weekly chart. Plus it's in a top performing industry group pharmacuticals. Another buy point is when the stocks starts another consolidation and kisses the EMA(30) according to Stan that's the safest point of entry.
txtrapper
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EWZuber
1,373 posts
msg #28560
- Ignore EWZuber |
9/13/2003 4:05:41 PM
txtrapper
NXXI is an excellent example of the power of trendlines.
On your 3 year weekly chart draw a line from the high on 7/01/01 across the high on 12/15/02 to the present and see where it lands.
Interesting huh?
I wish we could somehow incorporate a trendline serach into SF. That would be very cool.
The high on 7/05/01 @ $1.70 was the resistance that NXXI recently bounced down off of.
NXXI found support for this lstest run at a cycle high made on 12/16/02 @ $0.93 and bounced up off this support confirming it on 9/03/03.
The stock seems to be staying just above a 12 DMA. It even seems to have been conforming to this MA before the breakout. Unusual.
Friday it closed above short term resistance at $1.21 but will likely test it again as support.
As far as fundamentals go, speculative stocks have little regard for fundamentals. They will, however, respond violently to any hint of profitability.
A good example of this is MTEX.
If you bring up MTEX on Bigcharts and under 'Upper Indicators' and 'Events' select 'Earnings With Value' it is plain to see.
It is a different kind of 'investor' that deals in specs. It is a game of emotional frenzy and I believe that this is a big part of the reason that specs very often outperform fumdamentally sound companies stock in the short term.
I remember around 1999 AKAM had a P/S, thats a Stock Price to Gross Sales ratio of over 5,000 ! ! The company had no earnings at all. It was priced up around $300 a share and I told a friend that sooner or later this one was going to $5 .
It went to 50C.
You won't see that kind of loss of share value in a company that is fundamentally sound. So with specs you really have to be careful cause often they never rebound even a fraction of their former price and it's not unusual that they just go away.
Playing specs is like gambling but with TA on your side.
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EWZuber
1,373 posts
msg #28562
- Ignore EWZuber |
9/13/2003 4:14:19 PM
JoeGrossinger
What do you mean when you say,"weekly charts do not take precedence over daily charts". ?
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txtrapper
548 posts
msg #28566
- Ignore txtrapper |
9/13/2003 7:28:35 PM
JoeG. yea I caught that too Zuber, what does he mean by that?
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txtrapper
548 posts
msg #28567
- Ignore txtrapper |
9/13/2003 8:16:45 PM
JoeG. yea I caught that too Zuber, what does he mean by that?
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