BCON - Sector: Utilities --- Industry: Electric Utilities

[rickjust]

thanks for the explanation melf elf,
looks like bcon has sold off today . (sell the news seems to be the most reliable indication out there!) i also saw a head and shoulders pattern forming in the past 2 day intra day chart so i wasn't suprised at the sell off.
thanks again, i am looking to get in but i hate losing money ( probably why i lose so much! )
so i might leave it another day,
maxi

[Melf Elf]

i also saw a head and shoulders pattern forming in the past 2 day intra day chart so i wasn't suprised at the sell off.
thanks again, i am looking to get in but i hate losing money ( probably why i lose so much! )
so i might leave it another day,
maxi

maxi,

I see what you mean about the H&S, but if you connect yesterday's highs and lows, it also looks like a Bullish Falling Wedge, and this morning's gap opening to a new high for the move would seem to confirm that. 

I hate to see those gaps, though.   

We've done a partial gap fill since the open.  I'd like to see BCON close near the high end of today's trading range, and definitely would like to see yesterday's low of 1.91 hold.

http://charts-d.quote.com:443/987073757410?User=demo&Pswd=demo&DataType=GIF&Symbol=NASDAQ:BCON&Interval=15&Ht=400&Wd=600&Display=2&Study=MACD&Param1=12&Param2=26&Param3=9&FontSize=9

[rickjust]

well it closed near the high of the day so maybe it will be flying on radar through that cloud until it reaches blue sky,
thanks for the explanation ,
maxi

[Melf Elf]

well it closed near the high of the day so maybe it will be flying on radar through that cloud until it reaches blue sky,

maxi,

We've got a way to go before we reach blue skies.   

The bottom of the Kumo (Cloud) yesterday was 2.075, so with yesterday's close of 2.09, we've made contact, and have one foot on the bottom rung of the ladder for a climb higher.

The top of the Symmetrical Triangle (blue lines) comes in today at 2.17 and the 50 DMA (not shown) comes in at 2.12, just above yesterday's high of 2.11, so 2.12-2.17 is next resistance. 

Some backing and filling here is fine, but we soon need a thrust higher so that MACD doesn't roll over to the downside from below zero, etc.

[setravis]

Since I have seen that you, Melf Elf, have been doing some posting here on BCON.
Thought I would drop in here and let you know that you are doing outstanding work !! 
Keep it up. Applaud to you! And mean it will be just more than one...

[rickjust]

hi ,
here is a basic swing chart on bcon. it is still making lower bottoms lower tops. i would like to see it break 2.18 for a safe entry for me . the swing chart is very basic but it cuts out a lot of the "noise" in a chart and gives you a good indication of where the stock is based on its trend.
thanks
maxi

[Melf Elf]

Wow...BCON just took off in the last five minutes from 1.89 to 2.15.  Must be some news.  That's a new print high for the move, and 2.15 is right at the top of The Symmetrical Triangle on the daily chart posted above.

Thanks for you comments, setravis.

http://charts-d.quote.com:443/987073757410?User=demo&Pswd=demo&DataType=GIF&Symbol=NASDAQ:BCON&Interval=15&Ht=400&Wd=600&Display=2&Study=MACD&Param1=12&Param2=26&Param3=9&FontSize=9

[patriotmp]

    BCON demonstrates smart energy matrix, just came out on Command Center streaming news and shot the price up. 

Melf Elf...how do you see this affecting the TA....comments...take the quick profit or ride it into tomorrow...thanks

[Melf Elf]

BCON demonstrates smart energy matrix, just came out on Command Center streaming news and shot the price up. 

patriotmp,

Thanks for that news.  Applause.

Melf Elf...how do you see this affecting the TA....comments...take the quick profit or ride it into tomorrow...thanks

Scroll up and look at my daily chart from December 8.  The top of the Symmetrical Triangle comes in today at 2.147; today's high on the news run-up was right there, at 2.15.

BCON has pulled back now to 2.02, so taking a quick profit at the top of the Symmetrical Triangle would have worked, but personally, I'm going to hold BCON long.  I don't want the problem of trying to get back in it on an upside breakout.

I'll post a daily chart before the open tomorrow with today's candlestick.

[setravis]

Press Release Source: Beacon Power Corporation


Beacon Power Demonstrates Smart Energy Matrix System
Monday December 12, 2:13 pm ET 
California and Federal Energy Officials Cite Project Accomplishments and Highlight Potential for Commercial Service


WILMINGTON, Mass.--(BUSINESS WIRE)--Dec. 12, 2005--Beacon Power Corporation (NASDAQ: BCON - News), a company that designs and develops advanced products and services to support more stable and reliable electricity grid operation, was featured in a press briefing organized in collaboration with the California Independent System Operator (ISO) on December 6th at a PG&E facility in San Ramon, California. Beacon demonstrated the performance of its scale-power Smart Energy Matrix for journalists from statewide television, radio and print outlets, as well as industry and wire service reporters. Presentations were given by executives from the California Energy Commission, U.S. Department of Energy, the California ISO, and Beacon Power, followed by a close-up demonstration of the flywheel system's capabilities.


"This was a great opportunity to share the story of Beacon's flywheel technology, and the promise it holds for making California's power grid more reliable," said Bill Capp, Beacon Power president and CEO. "We are pleased to see the enthusiasm of visitors to the facility, who can walk inside this scale-power Smart Energy Matrix and see for themselves that this integrated group of flywheels can switch easily and repeatedly from full power charge to full power discharge in a few seconds. They come away with a good understanding of the technology and its performance."

Ken Wiseman, Chairman of the Board of Governors of the California ISO, was one of the speakers. He pointed out that 200,000 new homes are built in California each year. "These homeowners want dependable power, and they expect us to provide it," said Wiseman. "The ISO is very interested in new and better ways to manage the grid, especially with the expected addition of significant new wind generation in the next few years."

One benefit to having the full-power Smart Energy Matrix, which Beacon is looking to build in 2007, available for frequency regulation is that it may free up other conventional generation assets from being used for this purpose. This would enable the state's grid operator (the ISO) to reallocate valuable power plants to deliver power that will help avoid shortages. In addition, California's commitment to wider statewide deployment of renewable energy sources, such as wind and solar, will necessitate even more regulation services because of their inherently variable output.

Dr. Imre Gyuk, head of energy storage programs at the U.S. Department of Energy, praised the collaboration that produced this first-of-its-kind system. "The successful development and delivery of this high-performance flywheel energy storage system is the realization of a vision the Department of Energy shares with the California Energy Commission and the ISO," he stated. "We wanted to prove that flywheel technology has the capability to provide the essential service of frequency regulation. I am most pleased with the results, and I look forward to being able to test the larger, higher-power flywheel that Beacon has begun working on. I also expect that the Department of Energy will be able to continue to support the development of the larger flywheel and its deployment in a commercial-sized Smart Energy Matrix."

The demonstration used a pre-recorded remote signal feed to drive the Beacon system and graphically display a wide range of performance characteristics in a short period of time. The California ISO has been working to establish a secure data feed to transmit signals from its Energy Management System in Folsom, California (where the grid is operated), to the Smart Energy Matrix. Response to live ISO signal transmission, as well as formal acceptance by the Energy Commission, are expected to take place in late January, assuming completion of the communications link and final system-level testing.

Beacon Power is also building a scale-power Smart Energy Matrix demonstration system for the New York State Energy Research and Development Authority (NYSERDA). A recent contract change calls for Beacon to incorporate additional functionality in the system to supply uninterruptible power to the location in Amsterdam, New York. In addition, at the request of the customer the demonstration unit will be modified to be able to provide volt-amperes reactive power, or VARs, which help stabilize the power supply to electrical equipment. In order to allow for these changes, the demonstration system is now planned for installation in February 2006. There was no change in the contract value.

About Frequency Regulation

One of the most challenging aspects of today's electricity grid is that the amount of power generated and the amount consumed must be in exact balance at all times. When imbalances occur, the frequency of electricity (60 hertz in the U.S.) that end users require will not be maintained, which adversely affects grid stability. The constant balancing of power demand and production to maintain a stable frequency is called frequency regulation. Beacon's Smart Energy Matrix, now being demonstrated in a scale-power configuration, is a flywheel-based energy storage system that is intended to be a long-life, environmentally friendly solution for frequency regulation, with no fuel consumed and no emissions generated. More details, along with an informative animated presentation, are available at www.beaconpower.com.

About Beacon Power

Beacon Power Corporation designs sustainable energy storage and power conversion solutions that would provide reliable electric power for the utility, renewable energy, and distributed generation markets. Beacon's Smart Energy Matrix is a design concept for a megawatt-level, utility-grade flywheel-based energy storage solution that would provide sustainable power quality services for frequency regulation, and support the demand for reliable, distributed electrical power. Beacon is a publicly traded company with its research, development and manufacturing facility in the U.S. For more information, visit www.beaconpower.com.

Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995:

Material contained in this press release may include statements that are not historical facts and are considered "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Beacon Power Corporation's current views about future events and financial performances. These forward-looking statements are identified by the use of terms and phrases such as "believe," "expect," "plan," "anticipate," and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from Beacon Power Corporation's expectation. These factors include: a short operating history; a history of losses and anticipated continued losses from operations; a need to raise additional capital combined with a questionable ability to do so; conditions in target markets; no experience manufacturing any product on a commercial basis; limited commercial contracts for sales to date; little experience managing operations in geographically dispersed locations; the dependence of sales on the achievement of product development and commercialization milestones; the uncertainty of the political and economic climate of any foreign countries into which Beacon hopes to sell or in which it operates, including the uncertainty of enforcing contracts and the potential substantial fluctuation in currency exchange rates in those countries; significant technological challenges to successfully complete product development; dependence on third-party suppliers; intense competition from companies with greater financial resources; possible government regulation that would impede the ability to market products; possible product liability claims and the negative publicity which could result; any failure to protect intellectual property; the possible need in the future to hire and retain key executives, particularly in light of the substantial workforce reductions during 2001 and 2002; the volatility in the stock price of companies operating in the same sector; the difficulties that often arise in integrating operations of companies after a merger or acquisition; the power of controlling shareholders and the limited ability of others to influence the outcome of matters put to the vote of shareholders. These factors are elaborated upon and other factors may be disclosed from time to time in Beacon Power Corporation's filings with the Securities and Exchange Commission. Beacon Power Corporation expressly does not undertake any duty to update forward-looking statements.



Contact:
Beacon Power Corporation
James Spiezio, 978-694-9121
[email protected]
or
Gene Hunt, 978-694-9121
[email protected]

--------------------------------------------------------------------------------
Source: Beacon Power Corporation

[FreeLove]

bcon what a trade it has been lately, wish iheld long all th eones i had at .40

anyway still looks good here again, way to stay on top of it guys.

anyone looking acpw?

[Melf Elf]

Yesterday's quick rally to 2.15, an exact hit to the top of the Symmetrical Triangle, validates that trendline as resistance.  What that means is this: we can connect any two data points and call it a trendline, but that doesn't necessarily mean that it will be important support or resistance.  When we get a third data point on that trendline, as we did yesterday, the market is validating the fact that it is, in fact, resistance because the market sold off right there.

Now what we need is to take out 2.15 to the upside, which would tell us that the top of the Symmetrical Triangle no longer is resistance, and that we've got an upside pattern breakout.  Breakouts always can fail, of course, but a breakout above a validated trendline usually is good for some kind of rally (or the reverse, if it's a break below a validated trendline).

A good example of an upside resolution of what we saw yesterday in BCON (the third hit to the top of the Symmetrical Triangle) is (VLO) Valero Energy  (see chart in that folder, just above this folder).  Hopefully, we'll get the same result in BCON.

We're starting to throw out some big numbers on the 50DMA, so the 50DMA (dotted green line) should begin to flatten out now, and remain above the 200DMA.  50 days ago was the drop from above 3.00 to 2.16.

I also like the way that the 13/21 RSI chart in BCON is acting.  See next post.

[Melf Elf]

Relative Strength Chart

[Melf Elf]

Taking the profit on Monday's quick rally to 2.15, the top of the Symmetrical Triangle, as patriotmp suggested, would have been a nice play.  At that time, BCON was acting fine, and I didn't want the problem of chasing a gap higher, if that's what we were going to get.

I now have the problem of turning a profit into a loss. 

MACD ticked lower yesterday, just slightly.  It hasn't gone below its signal line, but it's below zero.  The relative strength chart still looks fine, but it's going to go back below the "W" bottom breakout (see RSI chart above) if BCON goes much lower.

Enough with the backing and filling.  BCON needs to get going to the upside here.

Strategy:

I'm long from 1.83 on December 2.  This week's low is 1.86.  If we get a print of 1.85, I'll sell for a 1% profit.  While I didn't want the problem of chasing the stock higher, that's what I will end up doing if I'm stopped out at 1.85, then BCON breaks out to the upside.  I'd buy a print of 2.16, a penny above this week's high.

[rickjust]

hi,
still been watching earlier . as i said in earlier post ,based on the swing chart a safe entry for me would have 2.18 on the swing chart making a higher top. now that we have a lower bottom than the previous 1.89 . i will wait and see if it prints above 2,15 the last higher top.
hope this turns around for you today melf elf.
thanks
maxi