Don't have time to put up chart. This stock is hot with oil back in play. Has potential to go to $5 or even $6 in the next two months, if oil prices keep at these levels.
If this stock clears $4.92,then it should take off for real,just need one down day to set up.
BDCO was on my short list on Monday. I see that today she's pulling back, maybe it will fill the gap? Support at $3.20.
Made a nice pullback today. Got in @3.28. :o
http://stockcharts.com/def/servlet/SC.web?c=bdco
Ready for next leg up! ;D
Looks like oil is the right place to be this summer.
Trying to sort the best in the arena to hold.
May add BDCO next week.
Heating up in the pre market :o
Quote from: setravis on July 12, 2005, 08:12:51 AM
Heating up in the pre market :o
It opened at 2.75. I put a limit order in at 2.86, All or None. It's tough getting those orders filled in these low-priced stocks. They move the price away from you. >:(
BDCO currently is 2.86 BID...2.90 ASK
I like the chart.
[quote} I put a limit order in at 2.86, All or None. It's tough getting those orders filled in these low-priced stocks. They move the price away from you.
BDCO currently is 2.86 BID...2.90 ASK
I like the chart.
Quote
I didn't get filled at my $2.86. :( I was trying to set up a nice 1:3 risk/reward, but they wouldn't let me have it at my bid. It closed up 13.55%. Good luck to those of you who are long, and nice job! I like that chart.
QuoteI didn't get filled at my $2.86. I was trying to set up a nice 1:3 risk/reward, but they wouldn't let me have it at my bid. It closed up 13.55%. Good luck to those of you who are long, and nice job! I like that chart.
Okay, let's try this again. I have a bid in at $2.92 All Or None. BDCO currently is $2.92 BID ... $2.96 ASK. I'm probably putting a floor under today's selloff in the stock, and won't get filled, like yesterday. ;)
Quote
Okay, let's try this again. I have a bid in at $2.92 All Or None. BDCO currently is $2.92 BID ... $2.96 ASK. I'm probably putting a floor under today's selloff in the stock, and won't get filled, like yesterday. ;)
Hey, they relented, and filled me $2.92! ;D I'm not sure if that's a good thing or not. ???
My stop is a CLOSE or obvious late day tank below Monday's trendline validation at 2.70. Risk is 7½% loss.
any opinions on the next leg ? up or down ?
hmm nice triangle.. but where will it go?
the 20d MA has been resistance the last few days, can we prodict the direction of the break out based on if the 20MA resistance will hold or not?
Quote from: nikao on July 14, 2005, 06:12:40 AM
hmm nice triangle.. but where will it go?
the 20d MA has been resistance the last few days, can we prodict the direction of the break out based on if the 20MA resistance will hold or not?
Hi, Nikao, and welcome to the board!
BDCO definitely needs to take out the 20 MA. The dotted green down trendline is just above that level. As far as predicting, that's always difficult. I go with "expect patterns to resolve in the direction of the trend." The trend is up. The 50 DMA is at 2.55. The 200 DMS is at 1.77 (see Creepus' chart). Those are in their proper sequence, and the stock closed at 2.86, above both.
Based on that and the overall chart, I view it as "take your best shot,'' and try to set up a good risk/reward trade. I tried to get it for $2.86....ended up paying $2.92...and could have had all I wanted at $2.86 when the darned thing sold off yesterday to $2.80. >:( So, my risk is a little more than I originally hoped for. I stand to lose 7½%.
My stop is below the recent low of $2.70. That also would take out the up trendline, which has been validated as support. If that gets taken out, I want out of the stock. On the upside, if BDCO can take out the dotted green down trendline, it should head back to the top of the Symmetrical Triangle (thick green down trendline), currently near $4.28. That would be a reward of 46% if I held it that long. Risk/Reward ratio: 1:6.
Using that example, if you set up your trades like that, you can lose 7½% on six trades, and win only 1 trade at 46%, and even though your winning percentage is a lousy 14.3% and your losing percentage of trades is a whopping 85.7%, you haven't injured yourself. You've broken even.
Good luck with all of your trades. I give you an applause to encourage you with learning TA.
EDIT: Creepus gets applause, too, for his chart. Welcome to the board!
Quote from: Melf Elf on July 14, 2005, 09:26:38 AM
Quote from: nikao on July 14, 2005, 06:12:40 AM
hmm nice triangle.. but where will it go?
the 20d MA has been resistance the last few days, can we prodict the direction of the break out based on if the 20MA resistance will hold or not?
Hi, Nikao, and welcome to the board!
BDCO definitely needs to take out the 20 MA. The dotted green down trendline is just above that level. As far as predicting, that's always difficult. I go with "expect patterns to resolve in the direction of the trend." The trend is up. The 50 DMA is at 2.55. The 200 DMS is at 1.77 (see Creepus' chart). Those are in their proper sequence, and the stock closed at 2.86, above both.
Based on that and the overall chart, I view it as "take your best shot,'' and try to set up a good risk/reward trade. I tried to get it for $2.86....ended up paying $2.92...and could have had all I wanted at $2.86 when the darned thing sold off yesterday to $2.80. >:( So, my risk is a little more than I originally hoped for. I stand to lose 7½%.
My stop is below the recent low of $2.70. That also would take out the up trendline, which has been validated as support. If that gets taken out, I want out of the stock. On the upside, if BDCO can take out the dotted green down trendline, it should head back to the top of the Symmetrical Triangle (thick green down trendline), currently near $4.28. That would be a reward of 46% if I held it that long. Risk/Reward ratio: 1:6.
Using that example, if you set up your trades like that, you can lose 7½% on six trades, and win only 1 trade at 46%, and even though your winning percentage is a lousy 14.3% and your losing percentage of trades is a whopping 85.7%, you haven't injured yourself. You've broken even.
Good luck with all of your trades. I give you an applause to encourage you with learning TA.
EDIT: Creepus gets applause, too, for his chart. Welcome to the board!
thanks for the reply and your information on your setup. I was planning to wait for the break of the resistance of the triangle to step in, and have that line also as the stop loss as the resistance has to become support or else it would be a false break out. This way the risk is very low and the reward still nice as I also have 4.28 as target
one more question: Do you watch intraday and step in as the stock breaks the resistance on the intraday chart, or do you wait for a close price to break the resistance?
Quote from: nikao on July 14, 2005, 09:32:35 AM
thanks for the reply and your information on your setup. I was planning to wait for the break of the resistance of the triangle to step in, and have that line also as the stop loss as the resistance has to become support or else it would be a false break out. This way the risk is very low and the reward still nice as I also have 4.28 as target
That's fine, but be careful with using that trendline as your stop. Sometimes, stocks dip back into the pattern, which would stop you out, then they take off higher.
Recent example: Human Genome (HGSI). I was watching during the day on July 1 for the breakout at 11.71. I bought it. It closed at 11.68, so it wasn't a breakout on a closing basis. The next day, it closed at 12.00. Confirmed breakout. Three days later, however, it went back inside the Ascending Triangle pattern and dropped as low as 11.46. I would have been stopped out, if I used the trendline as my stop >:( Two days later, it was at 14.05. (I sold it at 12.90 on some profit-taking). I'd suggest giving breakouts a chance, then move your stop up when it takes off.
Quoteone more question: Do you watch intraday and step in as the stock breaks the resistance on the intraday chart, or do you wait for a close price to break the resistance?
Both.
Quote from: Melf Elf on July 14, 2005, 10:07:35 AM
Quote from: nikao on July 14, 2005, 09:32:35 AM
thanks for the reply and your information on your setup. I was planning to wait for the break of the resistance of the triangle to step in, and have that line also as the stop loss as the resistance has to become support or else it would be a false break out. This way the risk is very low and the reward still nice as I also have 4.28 as target
That's fine, but be careful with using that trendline as your stop. Sometimes, stocks dip back into the pattern, which would stop you out, then they take off higher.
Recent example: Human Genome (HGSI). I was watching during the day on July 1 for the breakout at 11.71. I bought it. It closed at 11.68, so it wasn't a breakout on a closing basis. The next day, it closed at 12.00. Confirmed breakout. Three days later, however, it went back inside the Ascending Triangle pattern and dropped as low as 11.46. I would have been stopped out, if I used the trendline as my stop >:( Two days later, it was at 14.05. (I sold it at 12.90 on some profit-taking). I'd suggest giving breakouts a chance, then move your stop up when it takes off.
Quoteone more question: Do you watch intraday and step in as the stock breaks the resistance on the intraday chart, or do you wait for a close price to break the resistance?
Both.
I won't be using 'real' stop losses. I just want to trade disciplined, so I need to have an exit plan in my trade setup ;)
BDCO is testing the resistance right now btw...
Had enough. Got out at 2.71, little over 6% loss and as soon as I sold it I see it recovering, as always in my case.
Good luck to all holding it.
P
+40% after the bell ...
THe news appears to be:
HOUSTON, July 15 /PRNewswire-FirstCall/ -- Blue Dolphin Energy Company (Nasdaq: BDCO - News; "Company") announced that it has entered into gas and condensate transportation and handling agreements with Manti Operating Company to deliver production into the Blue Dolphin Pipeline system in Galveston area state tract 348. Services are expected to commence within 60 days. Throughput volumes are not yet known.
ADVERTISEMENT
The Blue Dolphin Pipeline system gathers and transports gas and condensate from various offshore fields in the Galveston Area in the Gulf of Mexico to shore facilities in Freeport, Texas. The Company owns an 83% undivided interest in the system. The current aggregate capacity of the system is approximately 160 million cubic feet per day of gas and 7,000 barrels per day of condensate. The system is currently transporting at approximately 4% of capacity.
Thanks, and I give you applause for being on top of that! That close in after hours is very interesting. I'll post my thoughts and chart in the other folder, so we can keep our comments on one thread.
Quote from: Melf Elf on July 13, 2005, 11:53:32 AM
Quote
Okay, let's try this again. I have a bid in at $2.92 All Or None. BDCO currently is $2.92 BID ... $2.96 ASK. I'm probably putting a floor under today's selloff in the stock, and won't get filled, like yesterday. ;)
Hey, they relented, and filled me $2.92! ;D I'm not sure if that's a good thing or not. ???
My stop is a CLOSE or obvious late day tank below Monday's trendline validation at 2.70. Risk is 7½% loss.
I had a heck of a time getting my All Or None order filled last week, and I'm still not sure if this is a good thing or not, the way they hammered my 2.70 stop on a close on Thursday and Friday ???
Thursday's low was 2.71 (dodged that bullet). Friday's low was 2.70 exactly, but it managed to close up a penny on Friday, at 2.80. Whew! We need an "out of breath" face on the toolbar ... pant...pant...pant.
Although the up trendline got violated intraday, the open on Friday (2.78) and the close on Friday (2.80) were smack on that validated up trendline on the chart.
Loize posted on a separate thread that BDCO closed at 4.10 in after hours (applauded for being on top of that). I don't get too excited about anything that happens in after hours. That's the "sudden impulse" MOMO boys jumping in without any due diligence, for the most part, and they could end up being BIG bag holders if BDCO opens Monday morning near Friday's 2.80 close.
That said, the trend is bullish. BDCO rallied 763% in just one month earlier this year! This correction off the March 17 high has been perfectly normal, and it wouldn't be technically unwarranted for BDCO to return to my upside target at the top of the triangle, which is darned close to the 4.10 close in after hours on Friday.
As I said, I'm not going to get too excited about the 4.10 in after hours, but I might start salivating a little if I see BDCO trading near 4.00 in pre-market on Monday ;)
I've merged both BDCO topics.
Quote from: Melf Elf on July 16, 2005, 05:30:55 PM
As I said, I'm not going to get too excited about the 4.10 in after hours, but I might start salivating a little if I see BDCO trading near 4.00 in pre-market on Monday ;)
Last trade at 8:29AM...3.93...up 40.86%. 24,283 shares traded.
Okay, I'm starting to salivate a little, but I won't actually start drooling unless I see that get printed when the market opens in an hour. ;)
I got in at 3.50 this morning :)
I think gas is a good investment - this one I might hold for quite a while.
Thanks for all the work you guys are putting into your analysis. Very educational to "listen" to your thoughts and reasoning.
Cheers.
I'd be careful with this one. It has a history of selling off pretty hard after its rallies. The news today doesn't seem significant, especially since this stock was under $1 a few months ago and ran up with all the low-float oil runners in recent months.
Quote from: VikingFan on July 18, 2005, 11:24:17 AM
I'd be careful with this one. It has a history of selling off pretty hard after its rallies. The news today doesn't seem significant, especially since this stock was under $1 a few months ago and ran up with all the low-float oil runners in recent months.
Funny, BDCO is the 4th highest percentage gainer today, right behind your CAFE and CAFEW.
BDCO rallied to a high of 4.17 at 9:55 this morning, seven cents below the top of the pattern on my chart above. Volume was very heavy. It's 4 times average daily volume so far, so I was hoping that it would blast through 4.24, and break out of the pattern, even though I agree with you that the news wasn't that signifcant.
On the other hand, the news wasn't that significant when the stock rallied 763% in one month last winter, either. ;)
As trading has unfolded today, that initial rally to the top of the pattern turned out to be a nice place to sell. I'm long from 2.92 with my stop at a CLOSE below 2.70. I'm raising my stop to a PRINT below this morning's low of 3.32, and since the top of the pattern essentially was reached this morning (seven cents short), I might go ahead and sell this one this afternoon. I'll post it, if I do.
Five minute chart:
http://ts-lc.sc8.finance.lycos.com/1121706316734?User=demo&Pswd=demo&DataType=GIF&Symbol=NASDAQ:BDCO&Interval=5&Permission=1000&Ht=400&Wd=600&Display=2&Study=VOL&Param1=&Param2=&Param3=&FontSize=10&LocaleID=0x0409
On the 5 minute chart, BDCO is working on a "W" bottom:
The left side of the "W" is 3.45 low at 10:50AM
The right side of the "W" is 3.47 at 1:30 PM
The middle of the "W" is the 3.84 high at 12:20 PM
If BDCO can print 3.85, taking out that 3.84 high, the pattern, interestingly, measures to 4.21, right near the top of that pattern, which comes in at 4.24 today (see my chart from this weekend).
3.84 (high of the "W") - 3.47 (we'll be conservative, and use the right leg of the "W") = 0.37.
0.37 added to a breakout above 3.84...0.37 + 3.84 = 4.21
If we use the left side of the "W"...
3.84 - 3.45 = 0.39 + 3.84 (high of the "W") = 4.23
It's got to take out 3.84, though. BDCO currently is 3.61 BID...3.64 ASK
5 Minute Chart:
http://ts-lc.sc8.finance.lycos.com/1121706316734?User=demo&Pswd=demo&DataType=GIF&Symbol=NASDAQ:BDCO&Interval=5&Permission=1000&Ht=400&Wd=600&Display=2&Study=VOL&Param1=&Param2=&Param3=&FontSize=10&LocaleID=0x0409
I sold my postion at 3.58 for a 22.6% gain.
The open today also was 3.58. If we close here, today's candle is going to be a big gap up doji star. While we could take out the middle of the "W" at 3.84 and rally to the top of the pattern near 4.24 tomorrow, we also could go down and fill this morning's gap that yawns below. I decided to play the middle of the road, and take the profit.
Quote from: Melf Elf on July 18, 2005, 01:40:46 PM
Funny, BDCO is the 4th highest percentage gainer today, right behind your CAFE and CAFEW.
Yes, but it ended the day as the 7th highest % gainer, and was down on the day from its open after shooting up over 4, forming an ugly candlestick.
If you got in before today and sold today, it was great, but for anyone who got in today, they'd have been better off selling rather than holding.
Quote from: VikingFan on July 18, 2005, 04:12:41 PM
Yes, but it ended the day as the 7th highest % gainer, and was down on the day from its open after shooting up over 4, forming an ugly candlestick.
That's why I sold it:
QuoteI sold my postion at 3.58 for a 22.6% gain.
The open today also was 3.58. If we close here, today's candle is going to be a big gap up doji star
Good move. BTW, I'll probably be out of the rest of my CAFEW early tomorrow and wait for a pullback...
Looks like bdco is ready to move.
On the move...... ;D
+44.58%.......Volume....1.3 mil .....pre market
today will be interesting....
chart:
Quote from: Melf Elf on July 18, 2005, 03:40:34 PM
I sold my postion at 3.58 for a 22.6% gain.
The open today also was 3.58. If we close here, today's candle is going to be a big gap up doji star.
I've had BDCO on my radar since I sold the July 18 gap and crap on the news of the Manti agreement. It's been a lousy performer given how much oil has rallied, but we have to remember that alot of "good news" already was factored in on that 763% rally in February-March.
Question is, does BDCO have any more rally in it, or has everything already been factored in, and was the March high a major top? We had another gap and crap toward the top of the pattern on September 2. The gap is from 2.50. I'd like to see that gap get filled, and maybe a little lower than that, then a rally back to the top of the pattern, and even better, a breakout.
If we rally from 2.50 and only make a Double Top at the March high of 4.92, that's a very nice 96.7% gain, so it seems worth watching.
MACD is above its signal line, and also above zero. Another thing I'd like to see is for MACD to head back down toward its signal line, hold at or near zero (forming an Inverse H&S), then bang higher.
MACD chart is below the price chart. Sorry about the annoying horizontal scroll bar.
BDCO currently is down $0.22. BID 2.78...ASK 2.79
On Friday, BDCO also broke above the Kumo (Cloud) on the Ichimoku chart, like MPET did earlier in the week. If BDCO can take out 2.72-2.74, it should challenge the top of this Symmetrical Triangle, a year-long consolidation of the 763% gain last February and March. The top of the triangle is at 3.20ish; the near-term Ascending Triangle measures beyond that.
nica33 selected this one in Contest #3. Applause. Looks like a real decent pick.
Here's the two-month Ascending Triangle with Left leg and Right leg targets. Both targets (3.42 and 3.61) are above the top of the year-long Symmetrical Triangle, which currently is at about 3.21, falling daily.
The targets are IN PLAY on a print of 2.75.
BDCO successfully held the bottom of the Kumo late last week and now is back above it, and looks headed to the top of the Ascending Triangle at 2.72-2.73. Nice base for a breakout up there.
BDCO currently is BID 2.54...ASK 2.55, up 6% on the day.
Blue Dolphin moving in the pre market.....
BLUE DOLPHIN ENER (NasdaqSC:BDCO) Delayed quote data
Pre-Market (RT-ECN): 2.94 0.75 (34.25%)
Press Release Source: Blue Dolphin Energy Company
Blue Dolphin Energy Company Reports Fourth Quarter and Year End Results
Thursday March 30, 5:13 pm ET
HOUSTON, March 30 /PRNewswire-FirstCall/ -- Blue Dolphin Energy Company (Nasdaq: BDCO - News; "Blue Dolphin") reported net income of $909,198 on revenues of $1,675,156 for the quarter ended December 31, 2005, compared to a net loss of $616,827 on revenues of $475,341 for the quarter ended December 31, 2004. Fourth quarter 2005 results improved primarily due to increased revenues from the sale of oil and gas of approximately $1,245,000.
(In thousands, except per share amounts)
Quarter Ended
December 31,
Net Change
2005 2004 2005 vs 2004
Revenues $1,675 $475 $1,200
Net income (loss) $909 $(617) $1,526
Net income (loss) per common share
Basic $0.09 $(0.09) $0.18
Diluted $0.09 $(0.09) $0.18
For the year ended December 31, 2005, the Company reported net income of $541,386 on revenues of $4,511,183, compared to a net loss of $2,500,334 on revenues of $1,435,646 for the year ended December 31, 2004. The improvement in annual 2005 results was primarily due to increased revenues from the sale of oil and gas of approximately $2,740,000 and increased pipeline operations revenues of approximately $361,000.
(In thousands, except per share amounts)
Year Ended
December 31,
Net Change
2005 2004 2005 vs 2004
Revenues $4,511 $1,436 $3,075
Net income (loss) $541 $(2,500) $3,041
Net income (loss) per common share
Basic $0.06 $(0.37) $0.43
Diluted $0.06 $(0.37) $0.43
There are currently 11,140,734 shares of common stock issued and outstanding.
Blue Dolphin Energy Company is engaged in the gathering and transportation of natural gas and condensate and the development and production of oil and gas properties. Questions should be directed to Gregory W. Starks, Treasurer, at the Company's offices in Houston, Texas, 713-227-7660. For further information see our Home Page at http://www.blue-dolphin.com .
Certain of the statements included in this press release, which express a belief, expectation or intention, as well as those regarding future financial performance or results, or which are not historical facts, are "forward- looking" statements as that term is defined in the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. The words "expect", "plan", "believe", "anticipate", "project", "estimate", and similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance or events and such statements involve a number of risks, uncertainties and assumptions, including but not limited to industry conditions, prices of crude oil and natural gas, regulatory changes, general economic conditions, interest rates, competition, and other factors. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Source: Blue Dolphin Energy Company
Expecting upside action after favorable earnings report.
Double Bottom (Reversal) Pattern in place.
Technicals
Last Price Quote is:
0.40%above 13-day EMA
-0.45%below 50-day EMA
RS Rating: 48
Fundamentals
Reports Earnings
Earnings Expected on Apr 3
Key Data:
Market Cap (M): $25.44
Double Bottom (Reversal)
The double bottom is a major reversal pattern that forms after an extended downtrend. As its name implies, the pattern is made up of two consecutive troughs that are roughly equal, with a moderate peak in between.
Although there can be variations, the classic double bottom usually marks an intermediate or long-term change in trend. Many potential double bottoms can form along the way down, but until key resistance is broken, a reversal cannot be confirmed.
It is important to remember that the double bottom is an intermediate to long-term reversal pattern that will not form in a few days. Even though formation in a few weeks is possible, it is preferable to have at least 4 weeks between lows. Bottoms usually take longer than tops to form and patience can often be a virtue. Give the pattern time to develop and look for the proper clues. The advance off of the first trough should be 10-20%. The second trough should form a low within 3% of the previous low and volume on the ensuing advance should increase. Volume indicators such as Chaikin Money Flow, OBV and Accumulation/Distribution can be used to look for signs of buying pressure. Just as with the double top, it is paramount to wait for the resistance breakout. The formation is not complete until the previous reaction high is taken out.
Pre Market was good...Outstanding volume in this morning's trading.
Good future prospects
Earnings came in good. the stock is down and cheap, a good buy, JMHO... ;D
Volume: 3,600,561
Avg Vol (3m): 119,476
Technicals
Most Actives
Gap Up
Percentage Gainer
Last Price Quote is:
62.75%above 13-day EMA
61.37%above 50-day EMA
RS Rating: 96
Fundamentals
Earnings Expected on Apr 3
Key Data:
Market Cap (M): $25.44
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/
Big volume :o
Rockin in the pre market..... ;)
BLUE DOLPHIN ENER (NasdaqSC:BDCO) Delayed quote data
Pre-Market (RT-ECN): 4.55 1.23 (+37.05%) Volume @ 726,295
Now @ 53.01%.....Volume......@ 1,517,324......
been watching this in the pre-market on CNBC and it's unbelieveable how it's been climbing.
Wish I had some of this one.
Goodluck to all holding
Read my last post on the OLAB Thread.
I think BDCO has much of the same scenario as OLAB.
Set up for a nice week.....JMHO of course.
Float (mil) 6.00
Shares Outstanding (mil) 11.11
Volume: 3,642,893
Avg Vol (3m): 595,032
Technicals
Percentage Gainer
Last Price Quote is:
45.98%above 13-day EMA
89.55%above 50-day EMA
RS Rating: 98
Fundamentals
Key Data:
Market Cap (M): $54.66
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/
Double Bottom (Reversal) Pattern
The double bottom is a major reversal pattern that forms after an extended downtrend. As its name implies, the pattern is made up of two consecutive troughs that are roughly equal, with a moderate peak in between.
Although there can be variations, the classic double bottom usually marks an intermediate or long-term change in trend. Many potential double bottoms can form along the way down, but until key resistance is broken, a reversal cannot be confirmed.
It is important to remember that the double bottom is an intermediate to long-term reversal pattern that will not form in a few days. Even though formation in a few weeks is possible, it is preferable to have at least 4 weeks between lows. Bottoms usually take longer than tops to form and patience can often be a virtue. Give the pattern time to develop and look for the proper clues. The advance off of the first trough should be 10-20%. The second trough should form a low within 3% of the previous low and volume on the ensuing advance should increase. Volume indicators such as Chaikin Money Flow, OBV and Accumulation/Distribution can be used to look for signs of buying pressure. Just as with the double top, it is paramount to wait for the resistance breakout. The formation is not complete until the previous reaction high is taken out.
Read their recent 10KSB (March 30th filing), and you will find a "turnaround" story for the company, in addition to favorable outside environment and their exploration is very successful.
Link... http://biz.yahoo.com/e/060330/bdco10ksb.html
Volume: 10,225,155
Avg Vol (3m): 643,029
Technicals
Record Price High
Most Actives
Percentage Gainer
Last Price Quote is:
95.20%above 13-day EMA
161.87%above 50-day EMA
RS Rating: 99
Fundamentals
Key Data:
Market Cap (M): $54.66
P/E Ratio: NA
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Good play (applause) ;)
That's just outstanding,
and just what you might have expected from the technical picture.
Now from here we'll soon see what this has really got.
Some short covering probably helped it make the new high.
The new high, that was needed technically, has been put in we should see what
all the volume we've seen in this means.
Volume: 11,474,453
Avg Vol (3m): 976,884
Technicals
Record Price High
Most Actives
Gap Up
Percentage Gainer
Last Price Quote is:
69.96%above 13-day EMA
153.31%above 50-day EMA
RS Rating: 99
Fundamentals
Key Data:
Market Cap (M): $68.66
Strong hands watched it fall to current levels without selling.
Rising above resistance !
Technicals
Last Price Quote is:
23.85%above 13-day EMA
29.34%above 50-day EMA
RS Rating: 97
Fundamentals
Key Data:
Market Cap (M): $52.31
P/E Ratio: 32.11
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
My pick for the upcoming Stock Picking Contest.
Technicals
Percentage Gainer
Last Price Quote is:
16.10%above 13-day EMA
23.41%above 50-day EMA
RS Rating: 98
Fundamentals
Key Data:
Market Cap (M): $63.63
P/E Ratio: 39.06
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Volume: 2,194,398
Avg Vol (3m): 1,598,700
A close above $6 is a positive sign.
Consolidate here, its cup and handle time !
Volume: 1,508,471
Avg Vol (3m): 1,568,840
Technicals
Last Price Quote is:
25.50%above 13-day EMA
35.96%above 50-day EMA
RS Rating: 97
Fundamentals
Key Data:
Market Cap (M): $63.63
P/E Ratio: 39.06
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
i think this is getting ready to break out of the cup with handle as I type...current price $6.28
the entire oil sector has taken off in the last 15 minutes or so....
i picked up a small position at $6.20 anticipating the breakout sometime soon. ;)
here's a 3 month chart and a 5 day 15 min. chart.
Trading up in the Pre-Market..... ;)
BLUE DOLPHIN ENER (NasdaqCM:BDCO) Delayed quote data
Pre-Market (RT-ECN): 6.19 0.30 (5.09%)
Press Release Source: First Equity Group; Blue Dolphin Energy
StockMarketNewsAlert.com Issues Updated Trade Alert -- Blue Dolphin Energy
Friday July 14, 9:22 am ET
DEERFIELD BEACH, Fla., July 14, 2006 (PRIMEZONE) -- Blue Dolphin Energy (NASDAQ:BDCO - News) is new to StockMarketNewsAlert.com. According to M. D'Alonzo at First Equity Group, Inc., ``Recent news flow from the company has been very positive. The company announced that its wholly-owned subsidiary, Blue Dolphin Pipeline Company, has entered into gas and condensate transportation agreements with a new customer to deliver production into the Blue Dolphin Pipeline system. The production will be delivered into the system in Galveston Block 273.''
The Company expects transportation services for this producer/shipper to commence in the third quarter. Throughput volumes are not yet known. This is the fourth new customer to contract with the Company for the provision of transportation services in the past eleven months.
Company Overview
Blue Dolphin Energy Company is engaged in the gathering and transportation of natural gas and condensate and the development and production of oil and gas properties.
For a description of future factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section ``Risk Factors'' included in the Company's Form 10KSB and 10-QSB filings with the Securities and Exchange Commission.
This news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the safe harbor provisions of the U.S. federal securities laws. These include, among other things, statements about expectations of future revenues, cash flows and capital requirements. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to further develop its business, the company's ability to develop appropriate strategic alliances and successful development and implementation of technology, acceptance of the company's products and services, competitive factors, new products and technological changes, and other such risks as the company may identify and discuss from time to time, including those risks disclosed in the company's amended registration statement on Form SB-2 filed with the Securities and Exchange Commission. Accordingly, there is no certainty that the company's plans will be achieved.
For the full profile, the reader's attention should be drawn to our initiating report, which is available on http://www.StockMarketNewsAlert.com. More information is available on http://www.stockmarketnewsalert.com.
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Source: First Equity Group; Blue Dolphin Energy
Let's Rock 8)
Nice volume and price action today. ;D
Volume: 1,909,380
Avg Vol (3m): 705,908
Back above the 50-day MA
MACD rising off center
Technicals
Percentage Gainer
Last Price Quote is:
20.20%above 13-day EMA
21.11%above 50-day EMA
RS Rating: 41
Fundamentals
Earnings Expected on Aug 14
Key Data:
Market Cap (M): $51.39
P/E Ratio: 31.55
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
BDCO stalled after a little "W" bottom breakout in July, but has been forming a Symmetrical Triangle near its 50DMA since then. Looks good. A breakout would put something above $8 IN PLAY.
Down 10% this week. Still consolidating the 360% gain from the April upside screamer.
Breakout/Breakdown data points are on the chart. I'm watching it for a low risk trade if it gets a bang off/near the lower rail of the Symmetrical Triangle.
Quote from: Melf Elf on September 04, 2006, 05:11:11 PM
Breakout/Breakdown data points are on the chart. I'm watching it for a low risk trade if it gets a bang off/near the lower rail of the Symmetrical Triangle.
Very respectable showing from BDCO yesterday:
1. The bottom of the Symmetrical Triangle came in at
4.8278; the low was
4.85.
2. It went back to UNCH at 4.98, which was a good sign.
3. It then put in a high of 5.15, and closed at
5.09, a penny above Friday's high of
5.08.
4. Bullish Engulfer on the day.
Quote from: Melf Elf on September 06, 2006, 05:18:53 AM
Very respectable showing from BDCO yesterday:
1. The bottom of the Symmetrical Triangle came in at 4.8278; the low was 4.85.
2. It went back to UNCH at 4.98, which was a good sign.
3. It then put in a high of 5.15, and closed at 5.09, a penny above Friday's high of 5.08.
4. Bullish Engulfer on the day.
A complete reversal of fortune! >:(
I had a nice entry into BDCO on Tuesday, at 4.91, coming off the bottom rail of the Symmetrical Triangle, and was delighted with the
5.09 close.
Busted!
Tuesday's nice candle was reversed, and BDCO closed below the bottom of the pattern. >:(
This still could end up bullish if yesterday's close was a low, or if we make a nominal new low here, then rally. We'd have to "move the chains" (Blue #2 and Blue #4), and it still would be a Bullish Symmetrical Triangle if BDCO goes up and takes out the top of the pattern.
As it stands, though, my assumption that the bottom of the pattern was in, was incorrect, and I'd be sitting in the trade "hoping" that I would end up being right about the pattern. That's dangerous. The bottom of the pattern was my "safety net," and it wasn't support. This could go lower than I expected.
I took a 2% loss on the trade.
I thought about re-posting this to "Melf's Workshop," for learning purposes, but decided to post it here in sympathy with anyone who still is long BDCO. given my checkered past behavior in stocks.
From the GIGM folder...Previous Picks Board:
Quote from: Melf Elf on October 24, 2006, 07:34:14 PM
[ :-\ What a bad close eh Melf!!
Thai,
Yeah. Lousy.
Quote
That's very unfortunate! I will be putting in a stop tomorrow as I got in a 9.91. i will give it a little breathing room but not much. :-\ I'm hoping some of my losses if I were to take any would be covered by the gains from NTRZ.ob. >:D
Good for you, Thai, and I'm happy to know that you have a nice gain in NTZR.ob. I don't follow those.
USE A STOP, and don't let a "mistake" turn into a disaster. GIGM "could" rally like gangbusters tomorrow, but I never again am going to be a "bagholder" in any stock.
This one CLOSED below trendline support.
Noo-oo-o....."Been There...Done That."
Recent example....BDCO...
I stopped it out for a 1.7% loss on the break of bullish-looking Symmetrical Triangle "Continuation Pattern," after the HUGE upside gain!
Definitely "looked" bullish...until that break. What if I'd "hung on," HOPING.
WRONG.
At today's close, if I had "held," and "hoped" that it would turn out bullish....
WRONG.
I'd be a HUGE "bagholder," to the tune of a loss of 24.2%, and the danged thing just broke below a Symmetrical triangle.
Arrrrgh....
It "Could" find support at the last low....
Arrrgh....
GET ME OUTTA THIS THING!!!!!!!!!!!!!!!!
I'm real, real happy with my 1.7% loss. ;)
Quote
This looks good to short now, might give it a try tomorrow
Hey guys, you think this 1 is ready to go up now ?? ;D NO NEWS !
Quote from: REALDEALS21 on November 09, 2006, 06:46:20 PM
Hey guys, you think this 1 is ready to go up now ?? ;D NO NEWS !
REALDEALS,
I have it as an upside Channel breakout, crossing 4.1564 yesterday, so the breakout was 4.16, putting a target of 4.71 IN PLAY.
The highs of this pattern are 4.10...4.11..4.10...4.096...4.10. Those are close enough for the pattern to be considered an Ascending Triangle. In that case, the breakout was above 4.11, putting a target of 4.67 IN PLAY.
So, 4.67-4.71 is IN PLAY, as long as BDCO remains above the breakout. I always use the more conservative of the two.
Impressive base put in !
Back above the 13, 50 and 200-day MA's
13-day MA has crossed over the 50-day MA.
52wk Range: 2.71 - 4.65
Volume: 382,135
Avg Vol (3m): 152,396
Technicals
Last Price Quote is:
14.90%above 13-day MA
17.77%above 50-day MA
RS Rating: 82
Fundamentals
Earnings Expected on Aug 10
Key Data:
Market Cap (M): $35.95
P/E Ratio: 79.97
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Next move up?
This is way oversold according to stochastic graph.
Stochastic suggests good entry point.
Closed above the 13-day MA
As always do your own DD !
52wk Range: 2.53 - 4.65
Volume: 371,588
Avg Vol (3m): 278,367
Technicals
Percentage Gainer
Last Price Quote is:
2.17%above 13-day MA
-4.36%below 50-day MA
RS Rating: 46
Fundamentals
Key Data:
Market Cap (M): $34.01
P/E Ratio: 90.77
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
Blue Dolphin Energy Company Announces Initial Production from High Island Area Well
Blue Dolphin Energy Company (Nasdaq: BDCO - News; "Blue Dolphin") today announced that production commenced in the High Island Block 115 sidetrack 2 well on November 26, 2007. As the Company previously reported, it had earned a 2.5% working interest in the well. The interest is held by its wholly owned subsidiary, Blue Dolphin Petroleum Company. The operator reports that the well is currently flowing at a rate of approximately 9 million cubic feet of gas per day with a 10,500 psi flowing tubing pressure and an 11,010 psi shut-in tubing pressure. The well is a sidetrack of the original B-1 wellbore in the block. As the well has recently commenced production, the production level has not yet stabilized. There will be adjustments to the production rate after a sustained steady flow has been achieved. The Company will issue further information as operations progress. Blue Dolphin's net revenue interest in the well is 2.008%.
Blue Dolphin Energy Company is an independent oil and gas company with operations in the Gulf of Mexico, engaged primarily in the gathering and transportation of natural gas and condensate and production of oil and gas. For further information visit the Company's website at http://www.blue-dolphin.com.
Certain of the statements included in this press release, which express a belief, expectation or intention, as well as those regarding future financial performance or results, or which are not historical facts, are "forward-looking" statements as that term is defined in the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. The words "expect", "plan", "believe", "anticipate", "project", "estimate", and similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance or events and such statements involve a number of risks, uncertainties and assumptions, including but not limited to industry conditions, prices of crude oil and natural gas, regulatory changes, general economic conditions, interest rates, competition, and other factors. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Source: Blue Dolphin Energy Company
Been down and out :(... Let's watch ??? :-\
Barely profitable energy play, risky ::)
52wk Range: 1.12 - 3.93
Volume: 1,809,866
Avg Vol (3m): 45,565.6
Technicals
Percentage Gainer
Last Price Quote is:
47.05%above 13-day MA
46.52%above 50-day MA
RS Rating: 95
Fundamentals
Key Data:
Market Cap (M): $16.13
P/E Ratio: 90.77
PEG Ratio: N/A
Next Earnings: 08/18/2008
Last Analyst Rating: N/A
updated chart look...
52wk Range: 1.12 - 3.93
Volume: 2,312,082
Avg Vol (3m): 90,910.8
Technicals
Percentage Gainer
Last Price Quote is:
38.95%above 13-day MA
48.52%above 50-day MA
RS Rating: 93
Fundamentals
Key Data:
Market Cap (M): $20.69
P/E Ratio: 90.77
PEG Ratio: N/A
Next Earnings: 08/18/2008
Last Analyst Rating: N/A
Another leg up...
52wk Range: 1.12 - 3.93
Volume: 788,904
Avg Vol (3m): 140,091
Technicals
Percentage Gainer
Last Price Quote is:
22.84%above 13-day MA
38.66%above 50-day MA
RS Rating: 95
Fundamentals
Key Data:
Market Cap (M): $25.11
P/E Ratio: 90.77
PEG Ratio: N/A
Next Earnings: 08/18/2008
Last Analyst Rating: N/A