3SOF

I hate to say it, and I hope I'm wrong but our two pennies CHID and IVHG do not look very healthy right now.

I can't speak for IVHG but CHID is still looking good.  It is bouncing around in a symmetrical triangle started 3 days ago and as long as it doesn't do a big break to the downside, we are good.  Volume is also decreasing as it should....

Why dont you think CHID looks healthy.....
The volume is dryin up plus there is no significant selloff's????still within healthy $ range, hasn't even touched teh 5EMA.....
no questions abt it, this puppy has a high chance of going up - up - up.... ....

Hum I'm confused..
B

I'm only referring to short term, like today.  Sorry for the confusion.  I don't know how opening prices are determined but these stocks opened too high and profit taking just takes over.  In the end, they are unlikely to end green for the day.  I think if they opened at the pervious days' closing price then we'd be better off by the end of the day.

Yeah Netfish the gap ups are not helpful when there's no serious buying power behind it. I was also thinking CHID is looking bearish short-term on the daily chart, but Rams' 5-day intraday chart is a perspective I hadn't looked at. CHID is going to have to make a move one way or the other in the next day before the triangle squeezes it out. 

Quote from: Lucas Scott on May 09, 2006, 01:41:25 PM
Yeah Netfish the gap ups are not helpful when there's no serious buying power behind it. I was also thinking CHID is looking bearish short-term on the daily chart, but Rams' 5-day intraday chart is a perspective I hadn't looked at. CHID is going to have to make a move one way or the other in the next day before the triangle squeezes it out. 

Am I being compared to the great and powerful Ramsburg?!?   Haha, I don't think I have the stock picking talent that he has in his little finger but I still try to contribute when I can. 

Looks like the supply line is holding for now.  There was a slight uptick in volume as it was approached but so far not enough to push it through.  Patiently waiting....

hey Bas - my bad, I thought that was Rams' post. Nice chart!

No problem, Lucas.  It gave me a chuckle.  Now if CHID would rocket up, we would all be happy!

Hi guys !

Thanks for all the inputs

Well, my view on CHID is simple: There's a short term Consolidation, leading me to a complete «no stress» mod on this stock  
Since it is holding pretty well these levels, we should expect a new breakout at any moment... We are up about 75% on this trade, so we are cool about any short term volatility.

We cant do the normal TA on this penny plays (MA, momentum indicators, etc), since they work on a different way, the short term chart may suggest some correction now, some drop of momentum, etc..., the same way it was suggesting a correction last week just before the recent breakout... But what I see now, is an interesting consolidation, plenty of buying pressure above the support, and some magnetic forces on the resistance

A new breakout could put CHID above 2005's highs, and the beauty of that, is that could happen in just a few days. So I think it's a great danger to even think about selling CHID right now and be away of this great position 

Best regards !

Chid...weakening? ? ? ?

I don't think so....breakout is just happening ... I'll hold this baby just below $2 bucks or maybe even higher

Quote from: Terliso on May 09, 2006, 05:03:34 PM
Chid...weakening? ? ? ?

I don't think so....breakout is just happening ... I'll hold this baby just below $2 bucks or maybe even higher

Terlisa(o), we have the same expectations... CHID is holding pretty well these high levels and this short term consolidation is now showing some signs of ascending triangulation... A bit more of volume and a breakout of $1.18 could easily lead to extreme «panic» buying...

Plan B: A bit more time of consolidation, strong support on the $0.90/$1.00, area with the same final result: breakout of the $1.18 resistance.

There are too much eyes looking into CHID right now, a lot of people have already sold their positions, and are «afraid» of being out of the boat... A correction was expected, and it didn't happened yet so far, so there are a lot of potential buyers asking: «when do I have the chance to pick CHID again below $0.90 ?»... I'm not a futurologist, but the perfect answer to this question would be another question: «For how long would be possible to buy CHID below $2.00 ?»  

The plan:
Hold CHID and ask questions later

Best regards,

CHID had some selling yesterday, but still closed inside the higher trading range.
We expect support and buying pressure on the $0.90 / $1.00 range, which we believe is a good entry / accumulation zone.

Trading Plan:
Hold CHID

Regards,

Hi,

Another sell off, we are now at .90 support. Should with a stop in case soemthing doesn't act right??

thanks
rafael

Quote from: mexirafa on May 11, 2006, 11:52:44 AM
Hi,

Another sell off, we are now at .90 support. Should with a stop in case soemthing doesn't act right??

thanks
rafael

Hi Merixafa,

We are using no stop on this trade. We believe this selling is normal behavior for this kind of moves, and we expect to see CHID going much higher than the recent highs.
A stop price on such a volatyle stock could just compromise our position like happened before (XING for example).

Patient will be the key factor for this trade

Ok, no stop.  Anyone have any idea where it will reverse?  My guess is $0.87 is short term bottom.  I expect stock to move up tomorrow, if not... then probably we really really need to think of a stop, whatever that level maybe.