3SOF

Closed at 1.61 3 cents down from yesterday. Was today's rise fake? Ameritrade's charting shows equal amount of shares traded between 1.68 and 1.69, 1.65 - 1.66 and 1.61 and 1.62 range.

Thanks,
- Dhiraj

Looking at PTSC's chart,

a.) I'm holding my breadth to see MACD crossover that might happen in the next few days.

b.) The Bollinger bands are converging too; good sign of a strong move in either up or down direction in the next few days or so. my bet is it;s gonna be an up move because of the fundamental strenght of the stock of late and news about dividend payments still due, plus expectations of news related to more patent infringement settlements

c.) the full stochastics indicate positive divergence to me; meaning, price action seems to be lagging what the stochastics show...i.e an uptrend.

d.) volume has dried out significantly compared to 3 month ave. volume of around 9.5 million shares

e.) all indicators point to a breakout waiting to happen...as expected, $1.7 range proved tough to take out today and I attribute that to lack of volume (look at my post yesterday)

f.) $1.58 is the 20 MA and it has been offering constant support ovet the last few weeks.

All I'm waiting for is some news or an MACD crossover into positive territory; then its fireworks time.

Good luck! 

Setravis,

what do you make of my TA on this stock (see my earlier post)...better yet, where do you stand ?

thx.

PS: trying to learn something from the "maestro"...lol! 

Quote from: vic666 on March 29, 2006, 07:57:32 PM
Setravis,

what do you make of my TA on this stock (see my earlier post)...better yet, where do you stand ?

thx.

PS: trying to learn something from the "maestro"...lol! 

Vic666, I think your TA in your earlier post was outstanding.
I think your points was like hitting a "nail on the head" !!
Points well taken.
As for where I stand on this stock.....I'm still holding...and making a hell of a return.....
Good luck with your trades man....make some $greens$....

setravis,

thanks for those encouraging words.

and thanks for continuing to post your wonderful wisdom on this board...applaud! 

enjoyed reading all your posts
seems like a good bunch here a 3 stocks.

It seems to have lost direction. Management was active in releasing PRs in late Feb and early March and since havent given out any relevant news.

What happened to the couple of dozen companies, who were negotiating? Can we ask the company about them? Also, there should be PR regarding annual and quarterly performance as they have annual shareholder meeting on April 28?

Technically, I dont know if it is still a buy or shall a person wait to show some sustained bullish movement for couple of days. I appreciate the analysis done by vic. (applaud)

Comments!!!!

Also, same situation in picks of NIHK and BIGN. 3 ob/pk stocks and they are driving me nuts. 

- Dhiraj

dhiraj...

I got in the mid 1.6's right as it broke out of $1.64 (see posts earlier)...as expected, the $1.7's proved as resistance...but I did look for support at the $1.6 - 1.64 level, if not that, I was looking for suppoer at the 20 MA...which barely broke thru' today.

I sold my small position at $1.58 for a loss, but that doesn't mean you should sell...

The next few days seem like things could either way (see my earlier post)...the B bands are converging pretty closely and it signals a strong move one way or the other....I just did not want to risk my trading capital and hance sold, but if you are well diversified, I suggest you add to your position if it falls and just wait this sideways pattern for now. the stochastics and MACD still look pretty positive to me.

hope this helps. 

Vic,

Thanks for the input. I am diverfisied but diverfication also has some reds, so that doesnt help..
Any ways I hope PTSC has some solid news and solid PR statement. Thats it, it will set up everything forward.
Good luck trading.

- Dhiraj

Press Release Source: Patriot Scientific Corporation


Patriot Scientific To Now Focus On Outcome of Infringement Lawsuit in Texas
Friday March 17, 9:10 am ET 
Northern California court grants TPL's motion to stay proceedings pending outcome of infringement proceedings against major Japanese manufacturers in Eastern District of Texas


CARLSBAD, Calif.--(BUSINESS WIRE)--March 17, 2006--Patriot Scientific Corporation (OTC Bulletin Board: PTSC - News), an intellectual property licensing company, today announced that the U.S. District Court of Northern California has stayed the declaratory judgment actions recently filed in that court against the TPL Group, a global intellectual property management company, and Patriot Scientific, et al, by major Japanese manufacturers. Further proceedings in the California actions were stayed pending outcome of TPL's earlier-filed action against those same companies in the U.S. District Court in the Eastern District of Texas. This clears the way for the Texas court -- sometimes referred to as the "rocket docket" for its expeditious rulings in patent infringement cases -- to now take the lead in judging TPL's broad-based intellectual property claims for infringement of three of the 10 patents in the Moore Microprocessor Patent(TM) (MMP) Portfolio that is jointly owned by the TPL Group and Patriot Scientific.


"This ruling puts a halt to procedural maneuvering by the Matsushita, Panasonic, JVC, Toshiba, and NEC entities," said Dan Leckrone, chairman of the TPL Group. Leckrone noted that the Fujitsu entities -- who were also defendants in the Texas action -- have recently purchased a license under the MMP Portfolio, and have been dismissed from the Texas and California actions.

The validity of TPL's views regarding the scope of the MMP Portfolio has gained substantial momentum since marquee chip makers Intel and AMD purchased MMP licenses last year. Since the beginning of 2006, Hewlett-Packard, Casio Computer and Fujitsu have purchased MMP system licenses. TPL believes that the intellectual property protected by the MMP Portfolio is used in a wide variety of end-user products including personal computers, servers, workstations, home theater systems, digital TVs, video games, DVD Recorders/Players, mobile handsets and automotive electronics.

"The TPL Group continues to have our complete confidence as they proceed with their highly effective, exclusive management of our valuable jointly owned patent portfolio," stated David Pohl, chairman and CEO of Patriot Scientific.

About the MMP Portfolio

The patent portfolio, marketed as the Moore Microprocessor Patent(TM) Portfolio, contains intellectual property that is jointly owned by publicly held Patriot Scientific Corporation and the privately held TPL Group. The portfolio encompasses seven U.S. patents as well as their European and Japanese counterparts. Both TPL and Patriot assert that their jointly owned patents protect techniques used in designing microprocessors, microcontrollers, Digital Signal Processor (DSPs), embedded processors and System-on-Chip (SoC) implementations. The MMP Portfolio is exclusively managed by Alliacense, a TPL Group enterprise.

About Patriot Scientific

Patriot Scientific (PTSC.OB) has emerged as an effective and dynamic intellectual property licensing Company, developing and marketing innovative and proprietary semiconductor technologies. The company's portfolio of proprietary designs encompasses fundamental microprocessor technology, as well as pending patents designed to protect Patriot's proprietary technology. Detailed information about Patriot Scientific can be found on the website www.ptsc.com. Copies of Patriot Scientific press releases, current price quotes, stock charts and other valuable information for investors may be found at www.hawkassociates.com and www.americanmicrocaps.com. An investment profile on Patriot Scientific may be found at http://www.hawkassociates.com/patriot/profile.htm.

About The TPL Group

Founded in 1988, Silicon Valley based TPL Group has a solid track record in delivering a complete suite of intellectual property management services. In addition to optimizing IP Portfolio value and protecting assets from infringement, the TPL Group is also well versed in optimally converting portfolio value into cash return for its owner(s). Through Alliacense, a cadre of senior licensing executives, the TPL Group manages IP Licensing Programs across a broad array of industries. For more information, visit www.tplgroup.net.

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the Company's cash flow, market acceptance risks, technical development risks, seasonality and other risk factors detailed in the Company's Securities and Exchange Commission filings.

Alliacense, Moore Microprocessor Patent, and MMP are trademarks of Technology Properties Limited (TPL). All other trademarks belong to their respective owners.

Contact:
Patriot Media Relations
Attention Group
Daryl Toor, 770-777-9489
[email protected]
    or
Patriot Investor Relations
Hawk Associates
Frank Hawkins/Ken AuYeung, 305-451-1888
[email protected]
    or
The TPL Group
Mindpik
Tom Rigoli, 650-969-5986
[email protected]

--------------------------------------------------------------------------------
Source: Patriot Scientific Corporation

I don't think it has lost it's since of direction.
Maybe some consolidation, a rest area, a dip which is most likely a good buy point.
I think April is going to be a good month for PTSC and it's stock holders. JMHO, of course.

PTSC broke the 20 MA on Friday, which was offering support over the last few weeks. The only silver lining ot the breakdown was that volume was pretty low...(which means there is a chance it will jump back up the 20 MA, but only Monday's action will clearly tell us if the 20 MA is broken or not)

Assuming the 20 MA is broken, I think the next support level is $1.00 because of the following reasons:
a.) $1.00 was the high on Feb. 22, and short term reisstance before the break out to $2.20.
b.) Also, $1.00 would offer support as the 50 MA (which is currently at $0.88) would climb up to that level the next few days.
c.) Finally, $1.00 would also be a kinda psychological support level.

The MACD is tredning downwards in the -ve territory, and the stochastics as well as the RSI are pointing downwards...all of which lead me to believe a short term downtrend until support at $1.00

For comparison sake, check out what XSNX did after it broke out above $1.00, ran higher and started consolidating back in early Februaruy...once it broke the 20 MA to the downside, it found solid support at the 50 MA (with a bullish hammer formation on Feb. 14) after which it roared ahead to new highs.

I think we will see something similar with PTSC in the next week or so. 

Don't really see this one going back down to $1.00 anytime soon. If anything , a big hopefull, maybe 1.20 is a great dip to get back in.. 

FIB retracements indicate a bounce at .96 (61.8%)

calven,

check my earlier post a couple of posts above....anyways, i was thinking $1.00 level would provide support...and that happened to be right on thursday...

but what i'm not encouraged about, inspite of the close above $1.00, is that:

1.) the volume on thursday was huge

2.) the RSI and stochastics as well as MACD show continuation of downtrend

Monday will be a very crucial follow through day to show what will be the short term direction....an engulfing white candle would be very bullish, or even a doji/hammer would be good...a sign of reversal so to say....otherwise, watch out for more downside until indicators point to a turn around.

here's a chart. good luck!