3SOF

... I simply have to buy back ECST at a much higher price. Yesterday I saw the stock taking off but it was from watching the intraday that I sold it too soon so I didn't care for the intraday action.

But now that I've explored and filtered the entire stock market I have to get to the conclusion that this is the most bullish chart on the street:



It seems I was too afraid of losing and was watching the intraday action when I sold ESCT at a loss - you can read the recommendation and the sale of the stock here: Legit rumors on ECST.

As a man and a trader what should I do now? Forget the story because now the stock is up too much? Or be a man, recognize the mistake and have the courage to correct that mistake by going out there and buying the stock again, nevermind the price?

The hard thing to do is usually the right. I'll swallow pride and buy ECST !

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David,

ECST opened with a gap on Friday after the strong run on Thur.  I didn't like gap up but started buying when I saw it came down trying to fill the gap and started heading North after forming a double bottom.   Some daytraders sold before the closing on Monday and it was a perfect buying opportunity.  I hold because it was not a sell-off and expected the run will start soon.

Selling is always a tough decision.  It was very difficult to hold the trigger after a huge gain and I am learning now.

Hope this can help to catch the next big fish.

Tiger     

Correction:

ECST opened with a gap on Thur. after a strong run on Wed.

Tiger

So have you bought ECST at open today?

Yes I did, at $5.25. I put the price on the homepage where there are the open and closed trades. When I say I'll buy I buy indeed. When my daily analysis says sell I sell, no doubt about that.

Have a nice day trading stocky !

I like the chart also on this one. The trend line and 9-day are at $4.16 so a good entry if it can pull back there. The 50-day EMA is at $4.73 so it may find support there.

chart  http://tinyurl.com/7cnvr

So what does everyone think of today's action?  Is 5 the floor and we move up tomorrow?  Or do we come down to at least the 50-day EMA?

Profit taking with lower volume. I don't like much to analyze the intraday - it is possible the stock ends up higher today.

CD-
Don't know if $5 is the floor or not. I'm in this AM at 5.09 with half position and will wait until later this afternoon when the Pros go to work to decide on other half.Just my opinion but I don't think this stock will pull back to the 50-day anytime soon.

Irish, thanks.  My strategy is the same...I have 10,000 at 5.12ish and will wait on the remaining 50% once the direction becomes clearer post-lunch.

Does the lower volume concern you?

CD-
Low volume is EXACTLY what we want on a pullback. No concern whatsoever.

Well guys, what do you think will happen with ECST? Was this just að little consolidation period that will lead to bigger victory? Any thougths would be appreciated.
Thanks
A Thakinu.

ECST is at the support 4.7 +/- 0.33  Which means to breakout it need to clear 5.05. To avoid breakdown it has to stay above 4.37.

And this may be a good opportunity to take a position after a pull back.

Well, perhaps courage is not the best caracteristic a trader should have 

But I couldn't sleep well without a position in this stock. Yesterday people were profit taking (for some it must have been loss taking), I guess. For yesterday's action to be considered profit taking only, ECST must always close above the midpoint of the white candle, which stands at $4.66.

So we have a simple set up here:

1) Hold as long as the stock closes above $4.66
2) Sell with a profit just at a much higher price

We had a powerful trend reversal in ECST. The trend now is bullish. The fundamental background is very bullish (suddenly with the purchase of Shopping.com from EBAY investors found the value in this sector). Expect higher prices to come.