3SOF

Quote from: Pete on August 29, 2005, 01:41:07 PM
Saw it late... so missed the opportunity to buy it.   Now I will wait for a pull back ( if it comes) to get in.
P

Got the pullback I wanted. Picked at 3 this morning. Seeing some green.
P

good healthy pullback and consolidation. Picked some up at 3,10

some daytraders got a nice ride yesterday from 2,92 to 3,58

For today the ascending trendline will stand at $2.63, the target is $6, just keep the plan and ... the stock !

You can't see it on the chart below (it is updated with yesterday's close only), but SMTX is up 7% at this hour. Doesn't mean anything, I don't take any conclusions from intraday (well, I try not to, but my 7 years as futures day trader sometimes show up on the analysis - with not so good results I might add).

Wow, just as I was writing, SMTX popped to +13% (it's inevitable, when you're updating analysis with the market already open, that's why I like to do it with the market closed).

Jesus, 17% now, to a new high ... ok, about $6 is the target, it's obvious I will continue to hold the stock.

LOL, if only every update you did had that effect on the price of a stock.

Quote from: David Randolph on September 02, 2005, 10:26:04 AM
You can't see it on the chart below (it is updated with yesterday's close only), but SMTX is up 7% at this hour. Doesn't mean anything, I don't take any conclusions from intraday (well, I try not to, but my 7 years as futures day trader sometimes show up on the analysis - with not so good results I might add).

Wow, just as I was writing, SMTX popped to +13% (it's inevitable, when you're updating analysis with the market already open, that's why I like to do it with the market closed).

Jesus, 17% now, to a new high ... ok, about $6 is the target, it's obvious I will continue to hold the stock.

The stock ended up just 1.8%, so we see how futile is watching the intraday 

I went back on this thread to see if I had made a trading plan, and of course I did:

QuoteThe plan is to sell with a profit around the $6 plus long term resistance level. To serve as a safety net, I have an ascending trendline, which for today will be standing at $2.49 (rising $0.14 everyday, so it is very steep)

For today the ascending trendline (safety net) stands at $2.90, if the stock is set to close below this level I'll take a small loss and move on. If not, I'll be looking to sell at the $6 target.

In case any Canadians haven't figured it out yet. SMTX trades on the TSX as SMX. 

again a Doji.. I guess daytraders are having fun here...

What to think of 4 doji's in a row?

Quote from: nikao on September 07, 2005, 05:26:57 AM
again a Doji.. I guess daytraders are having fun here...

What to think of 4 doji's in a row?

I think this is a consolidation phase nikao, the market is digesting the enormous run the stock had before it continues trading higher.

Yesterday I wrote:

QuoteFor today the ascending trendline (safety net) stands at $2.90, if the stock is set to close below this level I'll take a small loss and move on. If not, I'll be looking to sell at the $6 target.

For today the safety net stands at $3.08, so now probably I won't lose money trading SMTX (my entry price was $2.95). Though I only act with prices near the close, I don't trust intraday technical signals.

It is possible for SMTX to trade sideways until it is met by the ascending trendline and then push to a new high. The ascending trendline rises $0.14 per day.

QuoteIt is possible for SMTX to trade sideways until it is met by the ascending trendline and then push to a new high. The ascending trendline rises $0.14 per day.

The ascending trendline rises $0.14 per day and for today it will stand at $3.23. Hopefully SMTX will bounce from a touch on that trendline support.

If it doesn't bounce, if it is set to close below $3.23 today, I'll sell, taking a small profit, because of the technical sell signal.

Hi David,

SMTX closed at $3.21, just wondering if you sold today. I am still holding, not sure which way it will go at this point.  Whatcha think?

Thx as always,

JB

I'm curious about David's take as well.

Today's close right below the trendline doesn't seem definitive. Action today no doubt took out a lot of stops, leaving shares in the hands of stronger longs. Tomorrow could continue support of the trend, no?

hold or sell?
chart:

Quote
If it doesn't bounce, if it is set to close below $3.23 today, I'll sell, taking a small profit, because of the technical sell signal.

It closed at $3.21, I wasn't around to see, but I say sell.

I'm also turning short term bearish on the general market, don't like recent developments, so I'll dump shares at first sign.

I will sell SMTX at today's open or little after.

hmm, Do you use a linear chart? I can't seem to be able to draw the same trendline as you on the stockcharts.com chart

http://stock-diary.blogspot.com/2005/09/down-but-strong-smtx.html

For me the stock is still showing strength; it opened right at the trendline I see (at 3,00) and closed in the green.

Also the volume is still very low compared to the volume on the Up movement..

still holding!