TMTA

[Terliso]

From what I read they actuall beat by a penny? CEO resigning is what is sending it down - correct?

I am also glad I sold.... whew

CEO resigning? that's BAD.
After Hours (RT-ECN): 1.70  0.60 (26.09%)

MELF ELF saved my ass too in CPST...thanks Melf

[Melf Elf]

BID 1.67 ASK 168

Alister,

If TMTA trades there tomorrow, that's right where the Bearish Wolfe Wave target comes in.

[MELF ELF saved my ass too in CPST...thanks Melf

You're welcome, Alister.  Your work helps me, too.  Thanks.

[calven]

Id also like to thank Melf Elf for pointing out that rising wedge...

I was going to sell TMTA regardless of anyone elses posts since I dont hold through any CCs  - but you "put the nail in the coffin" so to speak.

I may rebuy TMTA in a few weeks. I still think it is a takeover candidate with good technology. Probably worth well over 1.00 per share on a buyout...

cal 

[Se7en]

F**************k, yesterday i was thinking about holding, today i got a bit scared and i was planning to sell but i wasn't at home in time! 

Melf Elf, what do you mean with 'the Bearish Wolfe Wave target comes in.', does it mean it will have support around 1.68?

[Melf Elf]

Melf Elf, what do you mean with 'the Bearish Wolfe Wave target comes in.',

Se7en,

I mean that's where the Bearish Wolfe Wave target will be MADE. 

does it mean it will have support around 1.68?

No.  It "could" find support there, but it doesn't mean that it "will" find support there.

F**************k, yesterday i was thinking about holding, today i got a bit scared and i was planning to sell but i wasn't at home in time!

Drat! 

We need that face on the toolbar, cursing inaudibly, so that no one's sensitivies are offended.

Curses!  Curses!  Curses!      

Sorry that you got caught long on this one.  Applause for your honesty, and applause to Beroznikmal for his honesty, too.  Rarely do people on the internet EVER admit that they have a loss in a stock, and I greatly admire both of you for being "real."  Applause.

Pain in the you-know-what, though.  Sorry for you loss, guys.     

[Se7en]

Thx Melf Elf, i've learned my lesson, yesterday i was thinking about holding through earnings while i had some bad experience with holding through earnings before, i shouldn't even have considered it and should have sold yesterday with a 9% gain, now it will probably be a big loss!
If i was home in time i would have sold today but the fact that i was doubting yesterday pisses me of now, i should have stayed with my plan, a valuable lesson learned! Plan the trade, trade the plan!
Let's see what tomorrow brings, hopefully it can bounce back a little in the afternoon so i can get out at a more 'decent' price!

[beroznikmal]

uhhh that was painful... took the dog out for a long walk and reflected ...
I think i'm ok now... uhh tomorrow I have a busy day... two stock will have their CC on Thursday.... hahah i'm selling

Thanx all... an expensive lesson hopefully learned....

Cheers...
B

[rickjust]

hi,
when the elf  speaks it pays to listen.
a couple of times he saved my arse on stocks when they reached thier target and i sold.
applause melf elf
maxi

[Terliso]

1) MELF ELF
2) Bearish Rising Wedge
3) Earnings
4) 80 (SMA) distribution

TMTA After Hours (RT-ECN): 1.76  0.54 (23.48%)

[Melf Elf]

hi,
when the elf  speaks it pays to listen.
a couple of times he saved my arse on stocks when they reached thier target and i sold.
applause melf elf
maxi

Hey, maxi!

Thanks, and I'm glad if the targets have helped you.  As you know, targets don't always get MADE, and sometimes they're exceeded by a lot, but "taking profits when targets get MADE" has saved my arse more than a few times, too. 

Often, it seems almost uncanny how close stocks come to making pattern targets.  Probably because in this age of computers and readily available data, technicians all are looking at the same thing.

In the case of TMTA, the "W"-Bottom target of 2.37 MADE to the exact penny, right at the Bearish Wolfe Wave #5 upside fakeout.

Next post, we'll look at some downside targets tht will be IN PLAY if we gap down below the Beaish Rising Wedge and the Bearish Wolfe Wave.

Good trading to you, maxi!

[Melf Elf]

When calculating targets, if have more than one choice, as is the case with the bottom of the Bearish Rising Wedge, I always use the more consevative of the two (or more).  Choices are 2.12 and 2.145; so I'll use the 2.145.

If TMTA gaps down this morning below 2.12 - 2.145, which seems likely, these targets will be IN PLAY.

Target #1: 1.77 - that's the bottom of the Bearish Rising Wedge.

Target #2: 1.664 - that's today's data point along the Beaish Wolfe Wave target line (connect the high of Wave #1 and the low of Wave #4 and extend it.  That points to the Bearish Wolfe Wave Target, #6.

Target #3: 1.545 - that's the height of the Bearish Rising Wedge, subtracted from the point of the breakdown.

Math:

High of the Bearish Rising Wedge - 2.37
Low of the Bearish Rising Wedge - 1.77
Breakdown occurs at 2.145

2.37 = 1.77 = 0.60 points

Breakdown at 2.145 - 0.60 points = Target: 1.545 IN PLAY

The rising 200DMA was at 1.4875 at yesterday's close and will rise a little each day.

[Melf Elf]

Target #3: 1.545 - that's the height of the Bearish Rising Wedge, subtracted from the point of the breakdown.

Bought TMTA at 1.54.  Stop: 1.44.  Risk: a loss of 6.5%

All three downside targets MADE at the open, which is the ONLY reason that I am willing to play it for a bounce.

TMTA currently is BID 1.58...ASK 1.59

[Se7en]

Nice buy near the LOD Melf Elf, around what price do you hope of selling?

I'm still holding and hoping that the pps recovers a bit ...

[Melf Elf]

Nice buy near the LOD Melf Elf, around what price do you hope of selling?

Se7en,

Thanks. 

I'm looking for a snapback rally to 1.664 - 1.77.

1.664 wasTarget #2: the Wolfe Wave target line.
1.77  was Target #1: the bottom of the broken Bearish Wedge/Bearish Wolfe Wave.

So far, the Wolfe Wave target line (1.664) is acting as resistance.  The high on the day is 1.67. 

I'm still holding and hoping that the pps recovers a bit ...

Me, too.  Good luck! 

[Melf Elf]

Bought TMTA at 1.54.  Stop: 1.44.  Risk: a loss of 6.5%

All three downside targets MADE at the open, which is the ONLY reason that I am willing to play it for a bounce.

Sold TMTA at 1.58.  Gain: 2.6%

Not much of a bounce. No buying interest. As the saying goes, "If this chart were a patient, he'd be dead."  They might try to take it down again to the morning low of 1.51, or the 200DMA at 1.49.  I decided to take the money.