This is not the first time I'm buying SIR. Just take a look at these charts:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=653;image)
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=654;image)
Absolutely beautiful, don't you think?
Anyway, those big down gaps occurred because of a delay in presenting the 10-Q for 2004 and the results for the 1st quarter 2005. The CFO has resigned so everybody is expecting very bad news out of the company when it restates earnings. I don't know what's going on behind the scenes but I see one marvelous chart developing. Perhaps the results are coming out and just the fact that there will be some clarification should produce a rally in the stock.
Expectations are very bad, but the stock has just started an uptrend. As usually, I'll go with the chart, which is starting to climb a wall of worry.
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Happy with SIR!
CHINA and ECST didn't quite make it ;)
Wonder if I should unload, or hold on?
Will see tomorrow.
::)
SIR moved well at Tuesday's session but the volume was weaker than on the previous day. We have a minor resistance level ahead of us, I'll probably take profits on that area ... probably SIR will only get out of this accumulation zone when we have some resolution on the fundamental side, which may come any moment (the restatement of earnings and presentation of results).
Profit taking with low volume. Prepared to sell at resistance.
I think I'm going to sell SIR right at the open. The chart is beautiful but I don't like the low volume on the stock. Perhaps I will sell and grab my 6% profit, it's not much, but it is what the market is willing to give on the short term.
Sold SIR @ $9.25
SIR
Delisting from NYSE Effective 11/26/07