3SOF

We have been using the EMA-20 as a moving stop level for NICH. Right now the EMA-20 is $6.99, but taking in consideration $7.00 is also an important technical reference; we don't want to compromise this trade in case of a normal correction / re-test of the $7.00 mark.

So we'll start using $6.92 as a stop level, and let this trade develop.

Best regards,

No special updates for NICH, this stock is moving on a tight range, but not correcting its move yet. We expect a new test on the ascending trend line and an upside reaction after that.

We'll be holding NICH with a stop @ $6.92 for now (we'll be updating a higher stop level soon).

NICH is still moving on a tight trading range, and approaching its ascending support... real low volume, but this is a small (micro) cap, so that's normal. This range is giving some consolidation to NICH, and we are still expecting an upside reaction at any moment. Our plan will be the same:
We'll be holding NICH with a stop @ $6.92

Hi Frederick, I bought NICH yesterday, nice pick you guys made! Seems to me that the stock is ready to move out of the tight range in which it has been trading lately, it has really shown a lot of support above $7 since 02/28/06 and I like that. What is significant about yesterday is the fact that the stock closed at historical high $8.24. I expect a nice move upwards this week. Good luck!

Quote from: cache00 on March 25, 2006, 04:26:13 PM
Hi Frederick, I bought NICH yesterday, nice pick you guys made! Seems to me that the stock is ready to move out of the tight range in which it has been trading lately, it has really shown a lot of support above $7 since 02/28/06 and I like that. What is significant about yesterday is the fact that the stock closed at historical high $8.24. I expect a nice move upwards this week. Good luck!

Thanks cache00, you already said everything... NICH closed on a new historical high (on close), and it seems that is ready to move forward above from this consolidation zone / trading range.
Despite the low volume (which is normal in this kind of stock), NICH is perhaps gaining some momentum, and will probably reach new highs during the week.

The confirmation of this technical pattern (an aggressive ascending channel), will be a close above the historical highs: $9.19, during this potential move the volume should increase a lot (that's also important).

We are just going to keep our plan, although we can be raising our stop level in the next days:
We'll be holding NICH with a stop @ $6.92

Regards,

These low volume micro caps sometimes are really nice to trade

NICH looks like its preparing another launch over new highs... This technical pattern is very aggressive, but it's been working well, so we are just going to ride it as long as we can (and with some precautions off course). We're now expecting a big white candle, just like it happened in January and February.

Since NICH has clearly breakout the recent trading range, we have to setup a new trading plan, upgrading our stop level and setting up a Limit Sell order in case we have the «big white»:
We'll be holding NICH with a stop @ $7.50 and a Limit Sell order @ $10.50

Regards !

Not a good session for NICH, after almost breaking into new highs, NICH had a big correction during the rest of the day, closing near the support line. That's the other face of the coin when trading a micro-cap like NICH, this big volatility...

Tomorrow we'll be an important day, since this support is now in check... Our trading plan seems adequate, and we'll keep it:
We'll be holding NICH with a stop @ $7.50 and a Limit Sell order @ $10.50

Last chance for NICH...
Today it closed below the support, not a good sign for our chart pattern; we'll keep our stop level and give one more day for NICH to rebound.
We'll be holding NICH with a stop @ $7.50

After the recent fake breakout on the upside, NICH is now developing a strange pattern; we can be facing a double top followed by a broken support line, this situation changes our technical overview on this stock.

Taking the risk of being too conservative now, we're are changing the plan and not waiting for our stop to be triggered:
We'll Sell NICH tomorrow during the morning, and we'll keep NICH on our watch list.

Regards,

Rams,

Could we try to give it a little bit more room? Is it possible to use a more horizontal uptrend channel?
Also, the EMA-20 has not been broken and it has shown support so far.

Gentlemen,

I haven't paid attention enough I guess to the floats of some of the picks throughout the history of the portfolio, but if a lot of the same people are playing the same low float stock and following instructions, it could punish a stock severely.  I am not sure what you can do about it, but on a stock like that if someone says boo it goes down 20 cents, so imaging 200 people dumping at the same time. Perhaps low floaters should be exited via the stop, and not an announced sell.  Just a thought.

I want to start by saying I have huge respect for the TA of the 3SOF team. They know way more then I do, and I'm learning every day.

In the case of NICH I also drew my card like Bocasva did. What is the reason you choose a steeper TL channel, starting below the first break out? Rams, I'm curious to know 

Provided the answer, I'm possibly willing to give NICH I'm a little more room. The base of the channel is an ascending TL that for today stands at $ 7,64. If Nich is set to close below  , I'll sell.

Hope to hear from the TA team
Amarens

Quote from: oicpecnoc on March 31, 2006, 12:57:42 AM
Gentlemen,

I haven't paid attention enough I guess to the floats of some of the picks throughout the history of the portfolio, but if a lot of the same people are playing the same low float stock and following instructions, it could punish a stock severely.  I am not sure what you can do about it, but on a stock like that if someone says boo it goes down 20 cents, so imaging 200 people dumping at the same time. Perhaps low floaters should be exited via the stop, and not an announced sell.  Just a thought.

I agree.  For portfolio that may be followed by many people, low-volume stocks are not he good ones to recommend such as ANGN,  ... When the sell order is sent and many people followed, the stock may get crushed. Later followers may lost big.

The difference in the channel drawings for NICH is due to <<log/linear>> chart difference.  Ramsburg is using a linear chart and in that case the channel is broken and we need to sell.  Ramsburg has been doing TA for a long-time  ..

On the Float issue:  Same sized floats can actually act quite differently.  Some of the best opportunities are created in lower float stocks by buying on the way up and selling before the run is over.  We manage this risk by running a diversified portfolio.. only risking 6.66% in every position.. and not having each position be a low floater.

update:
1)
Nitches, Inc. Announces Third Quarter Fiscal 2006 Results
Friday July 21, 9:00 am ET

Sales and Earnings Improve, Order Backlog Increases 185% to $38.8 Million

SAN DIEGO, CA--(MARKET WIRE)--Jul 21, 2006 -- Nitches, Inc. (NASDAQ:NICH - News) announced today its results for the three and nine month periods ended May 31, 2006. Highlights included:

--  Net sales for the quarter increased 70% to $12.6 million from prior
    year
--  Quarterly earnings per share of $.01 versus year ago $.05 loss
--  $1.6 million comparative improvement in net income year-to-date

ADVERTISEMENT
Consolidated net sales for the third quarter of fiscal 2006 grew 70% to $12.6 million versus $7.4 million for the third quarter of 2005. The increase was driven by the Company's newly acquired Designer Intimates business, but also includes organic sales growth in the Company's menswear product line. Consolidated net sales for the first nine months of fiscal 2006 increased 110% to $27.0 million from $12.9 million for the first half of fiscal 2005. Designer Intimates contributed $12.3 million of the $14.1 million increase.

For the remaining three months of the fiscal year ending August 31, 2006 the Company has shipped and on-hand orders totaling $14.7 million. At this time last year the Company had comparable orders of $6.6 million. Additionally, to date, the Company has received orders for shipment in the first quarter of fiscal 2007 of $24.1 million. At this time last year the Company had comparable orders on hand for the first quarter of fiscal 2006 of $6.9 million. These increases are due to additional orders reported as a result of the acquisitions of Designer Intimates and the Home Décor product line, as well as increased orders and earlier order placement for the company's menswear, sleepwear, and private label product lines.

The Company earned consolidated net income of $33,000 for the third quarter of fiscal 2006, reversing a loss of $188,000 in the year earlier period. Third quarter earnings per share were $.01 versus a loss of $.05 for the third quarter of fiscal 2005.

For the nine months ended May 31, 2006 the Company earned $.15 per weighted average share as compared to a $.21 loss in the year earlier period. Consolidated pretax income was $1.4 million and net income was 598,000 for the current nine month period, whereas the company incurred a consolidated pretax loss of $1.2 million and an after tax loss of $724,000.

Per share amounts include the weighted average effect of 180,000 shares issued in conjunction with the acquisition of Designer Intimates on October 24, 2005. Per share amounts further reflect a 200% stock dividend issued on January 20, 2006 which had the effect of a 3-for-1 stock split.

Nitches currently distributes men's casual lifestyle clothing by Newport Blue®, Dockers® men's swimwear and t-shirts, golf apparel by The Skins Game®, women's sleepwear and loungewear by Body Drama® and women's western wear by Adobe Rose®, Saguaro® and Southwest Canyon®. With the recent acquisition of Designer Intimates, the Company markets sleepwear, robes, loungewear, and daywear under the following brands: Gossard®, Derek Rose®, Princesse tam tam®, Crabtree & Evelyn®, The Anne Lewin® Collection, The Bill Blass® Lifestyle Collection, The Dockers® Collection, The Claire Murray® Collection and The Vassarette® Collection. Products are sold to better department stores, specialty boutiques, moderate department stores, and national and regional discount department stores and chains. The Company also develops and manufactures private label products for many leading retailers and multi-channel marketers.
2) chart update: