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

[GatewayStocks]

BCON Short squeeze coming.............

Today BCON $2.06 +0.16 +8.42%

Shares Short (as of 10-Jan-06): 5.10M
Short Ratio (as of 10-Jan-06): 3
Short % of Float (as of 10-Jan-06): 8.60%

[Melf Elf]

I don't think that we could have scripted yesterday's candlestick to be much better than it was.  BCON held the gains, and closed near the high of the day. 

It actually was the high of the day, as far as I'm concerned.  At 11 seconds before the final bell, they filled one trader's 500 shares at 2.07 and that was the only trade at the 2.07 high of the day.  Larger trades just after that went off at the 2.06 closing price. 

Devils!      

At any rate, we got a very nice, white candlestick.

1. It's a Bullish Engulfing candlestick.

2. It's somewhat like Erik Hadik's trademarked 2-Close Reversal (tm), only it's  better because it's a 4-Close Reversal, meaning that we closed higher than the prior 4 days' closes.

3. It's a Mark Lebovitz (sp?) Volume Reversal candlestick, I believe (I forget if we had to make a new low for the move yesterday, in order to qualify it).   Yesterday's volume not only was greater than the prior day's volume, it also was greater than any other day's volume  during the formation of the Bullish Falling Wedge, with the exception of that odious "blow off" Bearish Inverted Hangman, where the pattern began.

4. It took out, and closed above, the Bullish Falling Wedge.

Overall, a very nice day, and an auspicious beginning to what, hopefully, will be a reversal of BCON's recent decline. 

Oh-h-h, the torment!

hi,
tempting! looks good for the next few days,
maybe , i don't really know.

YOU CAN'T FIGHT THIS DEVIL'S TEMPTATIONS, MAXI

[Melf Elf]

We are exactly at "last resistance" on the Ichimoku Kinko Hyo chart.

We've gotten through the Kumo (Cloud) and Tenkan-Sen, and we're sitting smack on the Kijun-sen, at 2.06., poised to move higher.

If we back off some here, that's fine, but we don't want too much backing and filling down into the 1.80s again.  Too much give-back was the reason that I exited my long positon on the last three occasions.

During last week's selloff, we didn't hold the top of the Ascending Triangle and the big Symmetrical triangle breakout at the key 1.92.   That's a technical defect, that it wasn't support.  The bottom of the Kumo (Cloud) currently is at 1.93995.  The high of Friday's Bullish Doji Star Hammer (buy pivot) was 1.93.

Because of the technical defect at 1.92, I'm thinking that, at worst, we might have to go back down there, plant a foot on it to validate that it is support, and then immediately run higher.  Hopefully, yesterday was good enough that we won't have to do that. 

I'm not going to be real patient with much more fooling around down there.

NO MORE TORMENT, YOU DEVIL 

[ScottishTrader]

Gateway - can you look for currently running threads on stocks before starting your own - all you need to do is put the stock's name (not symbol - doesn't seem to work so well) in the search box.  There is already at least one very involved, currently running thread on BCON, and it is probably best to keep posts there.

You can find it here:
http://www.3stocksonfire.org/trading/index.php?topic=1994.210

Thanks 

[setravis]

Also with this thread located here on the Stock Picking Board........


http://www.3stocksonfire.org/trading/index.php?topic=441.0

[setravis]

BEACON POWER CORP (NasdaqSC:BCON) Delayed quote data 

Last Trade: 2.04
Trade Time: 10:00AM ET
Change:  0.02 (0.97%) 
Prev Close: 2.06
Open: 2.06
Bid: 2.04 x 1000 
Ask: 2.04 x 2000 
1y Target Est: N/A

  Day's Range: 2.02 - 2.09
52wk Range: 0.66 - 5.35
Volume: 220,704
Avg Vol (3m): 2,815,040
Market Cap: 122.33M
P/E (ttm): N/A
EPS (ttm): -0.12
Div & Yield: N/A (N/A)

[Melf Elf]

If we back off some here, that's fine, but we don't want too much backing and filling down into the 1.80s again.  Too much give-back was the reason that I exited my long positon on the last three occasions.

Yesterday's candlestick was fine.  We went down and tagged the top of the Falling Wedge, then buyers stepped in and we closed back over 2.00.  No problem with that.

I've been meaning to change the chart to reflect the "pattern morph" (change).  As the chart evolves, patterns often "morph," or change into something else.

In this case, we had the Symmetrical Triangle (in green on the chart) that broke out on the print of 1.93.   Now that we've gone up to the November high of 2.35 and printed 2.37, the pattern has "morphed" into an Ascending Triangle, so we need to change the chart to reflect that.

An Ascending Triangle has a flat top.  Ideally, both highs would be exactly 2.35, but more often, we get numbers that are very close, like these highs of 2.35 and 2.37.

I'll post a chart of the Ascending Triangle next.

[Melf Elf]

The Ascending Triangle now is in bold green.  I put a dotted green line for the top of the Symmetrical Triangle, and dotted blue for the bullish Falling Wedge.

Notice that if we take out 2.35-2.37 resistance, we've got a breakout of THREE Bullish Patterns:

1. The Symmtrical Triangle Breakout, printing 1.93 on Januarry 9.

2. The Bullish Falling Wedge Breakout at 2.03 on January 30.

3. The Ascending Triangle Breakout above 2.35-2.37 on     

We might not get breakout #3, but if we do, breakouts from multiple bullish patterns can be very nice.  The targets are either side of horizontal resistance, at 2.91, so we're looking at a real decent percentage gain if we can get up there. 

GET UP THERE, YOU DEVIL 

[GatewayStocks]

Some of those are so old they are USELESSSSSSSSSSSSS!!!!!!!!!!!!!!!!!!

Gateway - can you look for currently running threads on stocks before starting your own - all you need to do is put the stock's name (not symbol - doesn't seem to work so well) in the search box.  There is already at least one very involved, currently running thread on BCON, and it is probably best to keep posts there.

You can find it here:
http://www.3stocksonfire.org/trading/index.php?topic=1994.210

Thanks 

[GatewayStocks]

old picks..who would find it there??

Also with this thread located here on the Stock Picking Board........


http://www.3stocksonfire.org/trading/index.php?topic=441.0

[setravis]

They are never old and useless when they are updated !!
Let's see what we get today.

BEACON POWER CORP (NasdaqSC:BCON) Delayed quote data 

Pre-Market (RT-ECN): 2.10  0.07 (3.45%) 

[setravis]

To find all you got to do is type the symbol in the search...and go !

[ScottishTrader]

If you have a look at the threads (both of them) they are up to date and contain a huge amount of ingoing technical and fundamental information.  The reason they are old is that 3SOF members have been following them for a long time, and several aree actively involved in them right now.

Really it is only so that we all can easily find and keep up with ongoing discussions and developments on stocks we are interested in, and don't have to chase information all over the place.

[rickjust]

hi,
here is the updated swing chart for bcon,
good luck,
maxi

[Melf Elf]

Ignoring this devil doesn't work, either.   

The bottom of the Ascending Triangle comes in today at 1.856.  The January 27 low was 1.86.  We've printed a low today of 1.85.

If BCON is set to close below 1.85, I'll take the loss on my re-entry at 1.95.

BCON currently is BID 1.86...ASK 1.87