3SOF

Calvin and Melf Elf,

I think VPHM is still in play, what do you think?

What about this one?
Doesn't this one look like it's ready for a short trade very soon?

/Minimunch

Minimunch,

I don't really see a WW here because the "lead in" doesnt fit. In order for a WW to work there has to essentially be overbuying or overselling...DRIV pretty much has neither.

I'd like to offer some other advice though. The chart below illustrates how DRIV trades with the trend in up and down channels. Basically you want to short when the uptrendlines are broken and buy when the downtrendlines are broken.

I honestly see DRIV as a stock that wants to make new all time highs. 44.51 is in danger IMO. The MACD leads me to this conclusion as does the "descending triangle breakout" I have on the chart below....

I actually think the 26 day MA is a good LONG entry point and a break below the 26 day MA of greater than 4% is a short signal.


cal 

Hi Calven.
Thank you for your input. I will now go ponder :-)
I see the point about not being overbought. By that I take it you mean extremely overbought. And in that sense it wasn't. Though it was pretty well bought at point 1. Nice charts you added. I will keep an eye on it as a learning experience. To see where it goes from here.

Cya around. And thanks for taking a look :-)

/Minimunch

Quote from: thai626 on March 02, 2006, 04:08:45 PM
Another potential play!   

Looks like this wolfewave target may hit tomorrow.  Looking at the intraday chart, I noticed heavy buying in the last hour and half of trading.  Looks like good things to come tomorrow.  With some news, I can see SVA blowing past the WW target and looking a lot like NVAX in recent days.  Happy Trading   

Thai

 

Wolfewave Target Hit   

Watch closely at the 4.90 Resistance.  Both the intraday chart and the medium term chart shows a resistance at 4.90.  If it breaks out of it today, this will really take off!!  Momentum is building and is confirmed with the rise in volume in recent days.  Good luck all!!

Thai

Applaud for the great work!

Keep it up.

Jody

Thanks Jody 

Here is what I think may be a wolfewave formation.  I'm going to go out on a limb and say that having a "lead in" into the pattern is not a requirement but rather something nice to see before entering the pattern,  Much like the fake breakdown at point 5 in the wolvfewave setup (not required for pattern to be valid).

Depending on how BBI trades tomorrow, I may decide to test the waters.  If I'm right, I think it'll be a nice payoff!  Good luck trading.

Thai

I forgot to mention the triple bottom starting in mid november.  Potential is pretty high IMO.

Chart looks great!!!


Here's an article of today from the street concerning BBI

for the whole article, 4 pages long:
http://www.thestreet.com/_yahoo/pom/pomsut/10275166.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA

Not every stock priced below $10 a share will be a profitable investment. Some of the companies trading at these prices are doing so because their operations are in disarray or their business segments in severe decline.


One great example of this is Blockbuster (BBI:NYSE - commentary - research - Cramer's Take), the giant video retailer. Indeed, the entire video-rental market is ailing, mainly due to negative same-store sales results, competition from video-on-demand (VOD), overleveraged balance sheets and plans by movie makers to release their titles through VOD and in cinemas at the same time.

Given all these headwinds, Blockbuster is a stock that is best avoided.

At the end of 2005, Blockbuster operated 7,158 company-owned movie-rental stores and 1,884 franchised stores, and generated revenue from its newest initiative, online movie rentals, where it competes with the likes of Netflix (NFLX:Nasdaq - commentary - research - Cramer's Take) The company also generates approximately one-third of its revenue through selling merchandise in its stores, though this business carries significantly lower gross margins, about 22% vs. almost 70% for video rentals.

From a fundamental standpoint, Blockbuster's financials are dismal, at best. The company has delivered negative same-store sales for the past three years, been forced to amend its credit agreement with JPMorgan three times, and completed a recent $150 million convertible preferred offering that showed signs of financial desperation, as it was done to meet creditor leverage demands.

.....

Is the $COMP forming a WolfWave pattern.

Starting point, either low in January and the high at the end of March being Wave-5, exceeding the line drawn across points 1 & 3. If it stalls here and crosses below this line, do we look for a possible pull back to a line drawn across points 1 & 4?

Am I looking for something that is not there?

Here's an update of the wolfewave pattern I posted before.  The target is quickly approaching.  Unfortunately I didn't jump in because I had jumped in LVLT instead.  If anyone is holding..........be careful as a retracement may take place once the target is reached.  Good luck!   

Thai

Quote from: thai626 on March 22, 2006, 11:39:28 PM
I'm going to go out on a limb and say that having a "lead in" into the pattern is not a requirement but rather something nice to see before entering the pattern

Thai,

Wolfe Wave HERESY!   Jeepers, I hope that Calven doesn't punish you too severely when he reads your scandalous remarks.

       

I'd have to label this one a Descending Triangle.  The bottom is flat, with the lows nearly identical.  The tops are descending.

The top of the pattern comes in on Monday, April 3, at 4.065, so a print of 4.07 is a technical breakout, but then you've got horizontal resistance at 4.29, and then 4.48.

One never knows if THE BOTTOM has been reached  in a stock until after the fact.  Personally, I'd rather wait to see some confirmation that the bottom is in.

While the trade certainly could work out, the stock hasn't done anything bullish yet, and it's a play against the trend, which is bearish in all time-frames.  I'd have to pass on it, but good luck if you already have it, or if you decide to play it.

Quote from: Melf Elf on April 02, 2006, 09:33:49 AM
Wolfe Wave HERESY!   Jeepers, I hope that Calven doesn't punish you too severely when he reads your scandalous remarks.

O no, Calven and I are good friends (if I may call him a friend)  .  We chat on AIM from time to time!  I didn't mean any disrespect when I wrote that.  It could be that I drew the chart incorrectly and am trying to make something of nothing, or it could be that I am correct.  Hopefully no one took what I wrote as disrespectful because that is never my intention.   


Anyways, Happy trading everyone!  I'm looking forward to this week.

Thai

Quote from: thai626 on April 03, 2006, 12:36:32 AM
O no, Calven and I are good friends (if I may call him a friend)  .  We chat on AIM from time to time!  I didn't mean any disrespect when I wrote that. 

Thai,

Of course you didn't.  I was just kidding, and I apologize if you in any way took me seriously.  I shouldn't have joked.  My bad. 

Quote from: Melf Elf on April 03, 2006, 08:13:15 AM
Of course you didn't.  I was just kidding, and I apologize if you in any way took me seriously.  I shouldn't have joked.  My bad. 

No worries Melf!      I knew you meant no harm 

I just didn't want Calven to think I meant any disrespect.  He's an awesome trader much like the vast majority of the members of this website.   

Good luck with MCU...........I saw that you jumped in!  I'm waiting to pick up shares of LVLT at 4.50 or so.   

Thai