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

[Stocky2000]

i sold 2-3 days ago at 2.08....i saw the falling wedge..well i took a loss....

the entry is 85% of the trade....so next time i enter would be if  we break the day high of the day before....this is quite a good method......(trading with higher highs  and higher lows). Today that would be 1.98...(break of yesterday s high at 1.97)

anyway there are other much more bullish stock to look at (cup, diet, gigm, nvax...)

[GatewayStocks]

BCON ready to bounce again off of the 200dma

[setravis]

Beacon Power Officers Adopt 10b5-1 Plan


WILMINGTON, Mass.--(BUSINESS WIRE)--Dec. 30, 2005--Beacon Power Corporation (NASDAQ: BCON - News) announced that F. William Capp, President and Chief Executive Officer, James M. Spiezio, Secretary and Chief Financial Officer, and Matthew Lazarewicz, Vice President and Chief Technical Officer, have each adopted a stock trading plan in accordance with Rule 10b5-1 under the Securities and Exchange Act of 1934, as well as the company's policies with respect to sales of shares held by insiders
 

Rule 10b5-1, which the SEC adopted in October 2000, permits officers and directors of public companies to adopt predetermined plans for purchasing and selling securities. One of the SEC's goals in creating 10b5-1 was to provide more information to shareholders and other market participants regarding insider transactions. The plans may be entered into only when the director or officer is not in possession of material, non-public information. Once established, the director or officer does not retain or exercise any discretion over sales of stock under the plan and the pre-planned trades can be executed at later dates as set forth in the plan, without regard to any subsequent material non-public information that the director or officer may receive.

[Melf Elf]

I'll "pay to play" and risk a FOURTH tag of that up trendline at 1.84 (might print 1.83...1.82 for a bear trap fakeout).

If we test that up trendline again, I want a bang off there, and a close inside that wedge (blue lines), at 1.89 or better.

Close: 1.90.  

I'm hanging on by a thread, just like that Bullish Doji Star Hammer, which closed a penny inside the Bullish Falling Wedge (only bullish with upside follow-thru).

What was that 1.86 low about?  Why didn't it go ahead and bang off that trendline at 1.84, re-validating it, and giving the Doji Star Hammer a nicer tail?  It leaves us to wonder if we have to suffer through tha-at trial early next week. 

   

Oh-h-h, the torment! 

..so next time i enter would be if  we break the day high of the day before....this is quite a good method......(trading with higher highs  and higher lows). Today that would be 1.98...(break of yesterday s high at 1.97)

ket,

The buy pivot on Monday is a print of 1.94, above Friday's high of 1.93.  You get to buy BCON a penny cheaper than what I paid for it on this entry.  What a bargain!

JOIN ME IN MY TORMENT!! 

[rickjust]

hi melf,
your arch enemy. bcon still has a few tricks up it's sleeve
hers is a swing chart.  weekly and daily.
good luck,
maxi

[ScottishTrader]

Great TA on a tormentuous stock guys, applaud.

Just thought I would put me 2 cents in - it looks like BCON has produced so many failed continuation formations recently, I would be quite cautious on this one.  Personally, I think the recent spike high and morphing ascending triangle into falling wedge is a bit nervy.  I would expect BCON to bounce out of the upside of the wedge, but do watch for the bear trap fake-out below support.

In any case, considering all of these failed patterns, it provides a strong indication of market indecision, which will probably not let this one run too far.  That is, unless it does.  For my money, I think I would wait for a clear breakout above 2.20, indicating that it has finally decided to make a change in trend.  Until that happens, it may well cause even more stomach ulcers.

Good luck though

[Melf Elf]

Personally, I think the recent spike high and morphing ascending triangle into falling wedge is a bit nervy. 

Hey, Scotsman!

That's a good description.  When I re-entered BCON on the bang off the top of the Ascending Triangle at 1.92,  it bounced so fast I got filled on my market order at 1.95,  and I didn't mind paying that at all.  I figured that it would run in the close.  WRONG...

I can't lose on it with my 15½% gain on my other three trades unless it has a horrible gap down below 1.68, but it's disappointing to see this weak morphing occur, as you so well described it.

This still could work out though, because ket and all of the pivot players have to buy it on Monday when BCON prints 1.94.



Speaking of morphing and nervy...we're on the same wave-length today.  I just was going to post you about same in the GTE folder, which I'll do now. 

JOIN US IN OUR TORMENT, SCOTSMAN!! 

[ScottishTrader]

I might just do that Melf Elf, I really think an entry in BCON at high 1.80s could represent a good trade, at least with low risk below 1.84.  Will see what tomorrow brings.

I tell you, it's always fun n games here ain't it??

[Melf Elf]

II tell you, it's always fun n games here ain't it??

It sure is, Scotsman.  Right now, it's fun.  BCON just had a little sprint:

1.89...1.90...1.91...1.92...1.93....1.94...(pivot buyers!)...1.95...1.96...1.97....

Giddy YUP.

RUN, YOU DEVIL 

[Stocky2000]

Cool melfelf lets run..with the bcon....are you guys having cash or marginaccount?...this cash is not great...mostly my money needs to settle....oh mann i put 27000.- dollar on a margin account i think then i can trade daily....when i see opportunities:)

ket

[Melf Elf]

1.89...1.90...1.91...1.92...1.93....1.94...(pivot buyers!)...1.95...1.96...1.97....

...1.98....1.99....2.00....2.01...2.02....2.03....2.04....

TAKE OUT THAT WEDGE, YOU DEVIL  

[Melf Elf]

Cool melfelf lets run..with the bcon....are you guys having cash or marginaccount?...this cash is not great...mostly my money needs to settle....oh mann i put 27000.- dollar on a margin account i think then i can trade daily....when i see opportunities:)
ket

I don't trade on margin, ket.  I had a feeling you'd be jumping back in on that pivot.  Let's make some $$$.

WELCOME BACK TO OUR TORMENT, KET 

[Melf Elf]

Actually, we did take out the top of the wedge this morning.  It's at 2.027 (I thought it was higher), so the print of 2.04 took it out.

Given how steeply that Falling Wedge slopes, I view that as a positive, but we by no means are out of the woods yet with what is now resistance again from here to 2.35-2.37.

Bullish Falling Wedges ofthen morph (change) into Bullish Inverse H&S patterns.  We don't want to get to far ahead of ourselves here, but it would look something like what I've drawn on this chart.

Rally to 2.15-ish, which has been a stickler area.  We never got a close above that 2.15 "higher high" that maxi pointed out.  So, rally to 2.15, then pull back to something reasonable in the low 2.00s (not back to the low 1.90s), then bang higher.

First, of course, we need to see BCON have a decent close today.  We're hanging around now at BID 2.02...ASK 2.03, so "everybody knows" that we're at top of the wedge resistance (2.027), and we're digesting that early morning run-up.

[Melf Elf]

First, of course, we need to see BCON have a decent close today.  We're hanging around now at BID 2.02...ASK 2.03, so "everybody knows" that we're at top of the wedge resistance (2.027), and we're digesting that early morning run-up.

In addition, we've also got Kumo (Cloud) resistance right at those same numbers.  2.025...2.03...2.06.

We don't need to do it today or even tomorrow, but getting above that Kumo (Cloud) resistance soon would be a BIG plus.

We've eased off now to BID 1.99...ASK...2.00.  That's fine.

[rickjust]

hi,
tempting! looks good for the next few days,
maybe , i don't really know.
oh well,
good luck all longs
maxi