3SOF

Quote from: LiveLife on October 29, 2005, 10:39:22 AM
LOL, basonista, thanks for your post and chart! 

I know, some at Yahoo MB do get "carried" away at times, but I do agree with you that retvet24's may be correct.  We'll know if that's the case next week.

Since there has been so many new posts, let me repost my Friday's "recap" post here:

Yes, NVAX continues to be the week and month volume leader with highgest "Institutional ownership up last month."

Quote from: LiveLife on October 28, 2005, 11:47:43 AM
Good morning!

Last night, I reviewed my list of stocks and did a lot of thinking.  Since I am back in "full" swing trader mode, for short-term swing trading, I narrowed down my three choices to NVAX, HEB and SVA (stocks that experienced the most amount of loss recently for maximum rebound gains).

With still bearish market trends in the near future, I decided to convert to cash this morning while I waited for a good entry point.

As anticipated, the NVAX selloff continued from last two days.  With NVAX having gone from $6 to $3.50, I decided that NVAX had the most to rebound for swing trade.

I bought 12,000 shares at $3.47 and will be setting my next sell target.

Good to be back in NVAX and Good trading!   

I swing traded NVAX today.  Sold as it gained towards $4 and bought back on dip at $3.62 (what a long dip!).  As part of the three stocks I narrowed down last night, I bought 5000 shares of HEB this morning and sold this afternoon.  So I guess, I really day traded today.  Once again, I am "all in" with NVAX for Monday.

What I learned also last night from Terlisa (Thanks! - this is what's go great about 3SOF community!) is that there was a duplicate RSI trend above 70 (Red Ovals) of last few days that corresponded with the selloff activity from end of August (Blue Ovals).  After today's close, the trend looks awefully familiar,  and  50 MA is still heading above 200 MA.

Once again,Institutional/money manager buying accumulation continued today.  Although the Lycos I-watch charts don't show, there was a block of shares sold executed early this morning.  As we have discussed in Yahoo MB, we question the true accuracy of the I-watch reporting, so only use the charts as a general guide, not an exact report of true Institutional/money manger activity.

So, I approach Monday with a renewed optimism that this was an inevitable price correcting selloff and NVAX will resume its climb back up.  According to the chart, there may be more downward correction before NVAX gains.  Of course, we'll see what happens next week.  Have a nice weekend everyone!