3SOF

I did not like the close AT ALL. As I am looking to increase my stake in BRVO anyway, I pulled the trigger.

Doesn't mean I don't think it will move. I think it will, and I hope I'm paying attention when it does, so I can leap on it then. But I've got a very high priority fot capital preservation.

anyone has ideas on what was going on last 5 min before closing?

http://tinyurl.com/7mtnt

this shows there is a 22K shares buy order went through, 2.75, there were must be a big sell order to match it. who was buying and selling, exchange hands? for such a big lot?

Thanks for any comments.

light

Great Pick, David.
My donation is on the way

Thanks

Applaud Julia. Great pick. Wish I would have been onboard. Anyway keep them coming.

MEMY is in Barrons on page M11 as the number 1 insider purchases (5.2 million shares bought by 9 insiders) in the 10-03-05 edition.  Could bring a lot of attention to MEMY on Monday!
David and Ramsburg, keep up the good work you are doing.  I am very appreciative and have profited from your knowledge and lessons.

Thank You,

EllieMae

Thanks for your comments    Let me try to address some of your doubts.

MEMY was up a lot over the short term and went down on profit taking on Friday. Of course I'm still holding the stock (I always say I'm going to sell before I actually do it).

So, after a trend reversal to bullish and a big run up over the short term, we have a pull back. It is the magnitude of the pullback that will tell us if the first rise was just of speculative nature or if it had some fundamental background. The market action will give us the answers we need, because the market always knows better.

For this purpose I use the Fibonacci retracement levels. A normal and healthy pullback wouldn't take out more than 50% of the initial move, so I sure wouldn't like to see MEMY close below $2.5, which is a short term support and the 50% retracement level. But if the drop stops right here, at the 38.2% retracement level, that would be even more bullish for MEMY.

So my plan is simple: I will continue holding if the stock is set to close above $2.5. I will sell if the stock is set to close below $2.5, as someone wise said, that would mean «something's fishy».

In the meantime, if you have the time, take a look at the profile of the company and their website, I appreciate the company's ideas:

Memory Pharmaceuticals Corp., a biopharmaceutical company, is focused on developing innovative drugs for the treatment of debilitating CNS disorders such as Alzheimer's disease, schizophrenia, depression, vascular dementia, mild cognitive impairment, Parkinson's disease and memory impairments associated with aging. For additional information, please visit our website at http://www.memorypharma.com.

David,

Don't fall in love 

Thanks for the clear picture and I agree with you analysis.

Amarens

Quote from: David Randolph on October 03, 2005, 06:18:49 AM
Thanks for your comments    Let me try to address some of your doubts.

For this purpose I use the Fibonacci retracement levels. A normal and healthy pullback wouldn't take out more than 50% of the initial move, so I sure wouldn't like to see MEMY close below $2.5, which is a short term support and the 50% retracement level. But if the drop stops right here, at the 38.2% retracement level, that would be even more bullish for MEMY.

Retracement levels!!, what retrcacement levels, its going higher and higher!!!

Just wanted to say that I joined as Honours memeber this weekend. I also want to say that I have made lots of money with VPHM - got back in at 15 after selling at 13.70 but got out to early at 17; next have been big fan of HOM and acquired more shares at 4.23 - although I know David sold at 4.35. Also own AOB.

Finally, I just bought MEMY today at 2.94.

I enjoy the recommendations of the Board and have now acquired 5 stocks ( AOB, BTUI as well) from the rec list of 3stcoks. I also owned BRVO before I found the Board.

I dont post very much but have become an avid reader of the comments on the stocks I own or am thinking of owning. My main holdings also include ARQL, SWB (although am thinking of selling after today), CHK, ELN (with coverd calls). Looking for some new trades and will post when I find them.

Thanks to all - I love the service

Defenderyou

I hope this is stock cont. to go up, but I need to take profits and run.  Dave picks enough good ones, that i just need to take the small profits when i can and get strong again.  GL on memy

QuoteSo, after a trend reversal to bullish and a big run up over the short term, we have a pull back. It is the magnitude of the pullback that will tell us if the first rise was just of speculative nature or if it had some fundamental background. The market action will give us the answers we need, because the market always knows better.

For this purpose I use the Fibonacci retracement levels. A normal and healthy pullback wouldn't take out more than 50% of the initial move, so I sure wouldn't like to see MEMY close below $2.5, which is a short term support and the 50% retracement level. But if the drop stops right here, at the 38.2% retracement level, that would be even more bullish for MEMY.

The stock ultimately did what's written on bold. That's very bullish. I'm expecting MEMY to break the $3.21 high soon, possibly today.

You're welcome defenderyou, looking forward for your posts 

QuoteI'm expecting MEMY to break the $3.21 high soon, possibly today.

MEMY did break $3.21, rising more than 10% at one point in the session, but failed to hold that rally. The general market didn't help either. The stock needs some more time to consolidate recent gains and that's ok by me.

I feel encouraged by the high volume (though today it wasn't high enough for a bullish breakout. It's better this way, if the breakout had occurred with this low volume it would probably be a false one).

I believe it is just a matter of time for MEMY to decisively break $3.21 on a closing basis and I got time, plenty of time.

Dave, as the place to find you is on the MEMY Board, just wanted to tell you that I picked up MEMY yesterday at 2.94. Today I bought BMD - Birch Mountain Resources, which had a breakout three days ago. I bought this am at 5.08 and we are up to 5.71 at the close. This is a Canadian company engaging in mineral exploration. I consider it an overlooked mineral play. The move has been on very high volume, around 750k to 1 mill compared with avg vol that is under 250k. Another unknown Nat Gas play is TREN, which was down today, but I am studying now that I am out of NGAS.

I think you may like BMD as it seems to have all the technical characteristics you are looking for. What do you think?

I also bought SVA after reading 35 pages on the stream here. Most impressive, but I got in too high today. I guess the correction was healthy. I am not worried.

Anyway, thought I would give something back to 3stocks. I also dumped my SWB at 5.50 and my AOB at 4.60 today Dont like the way AOB is behaving.

Thanks for MEMY

Defenderyou

MEMY holding up nicely on such a bad day.

The 9-day and former support is at 2.65 area so it may be an OK entry  - at least if it does not hold then you can sell for a minor loss. you can avearage in a bit higher and add if it goes a bit lower.