EDCI

[stocky]

Actually solid support exists at 3.71 and the stock went as down as 3.8. I am bullish on this one. Sold earlier due to wild swings, not doing this time.

[stocky]

15-Jun-05 GILSON, PETER W.

Director 50,000 Direct Acquisition (Non Open Market) at $3.96 per share. $198,000

15-Jun-05 BATES, DONALD S.
Director 50,000 Direct Acquisition (Non Open Market) at $3.96 per share. $198,000

The above result is from Yahoo.

[Thunderbunny]

While I really would like to hold this stock (and likely will), I am somewhat concerned about it breaking the longer term trendline. 

[stocky]

Well I dont know about others but I'll be holding this baby unless it closes below 3.7

Which is the support zone with the highest volume.

And seems like that the trading gods have spared GEMS by closing it above 4

[David Randolph]

This is why I don't watch or consider intraday stock price developments in my analysis. The stock broke the ascending trendline, but it only did it intraday, and that gives short term power to an expected advance (because of all the precipitated guys who sold because support was broken, they now have to come back and chase shares higher - the reason they sold is no longer valid).

The fall was a retest to a minor resistance line, now support, as you can check on the annotated chart below.

Holding GEMS.

[David Randolph]

Nice market action on GEMS, after falling below the ascending trendline on the intraday the stock managed to advance 2% yesterday. The trend is still pretty much in place, in fact, it has more validity now than before.

[David Randolph]

GEMS closed a touch below my ascending trendline, but considering the volume and the fact that the stock was up a bit after hours I need to give it a little bit more room to maneuver. You see, some times a technical analyst must adjust his trendlines and minor cuts may mean just noise.

Giving one more day of chance to GEMS, I hope the stock takes that chance.

[David Randolph]

It was wise not to sell GEMS just before a 5% advance day. Many years as a technical analyst have thought me TA is not mathematics, it is an art. A technical analyst may have to change its lines a bit as the stock price evolves, it's no good to produce and rely on static analysis.

Now GEMS could have a done more volume on this 5% day, but anyway I'll continue to hold the stock ...

[David Randolph]

GEMS couldn't hold the attack at recent highs. The trading plan is simple, hold as long as the stock closes above the ascending trendline. Sell on close if GEMS is set to close below the trendline, which today will be around $4.05.

[David Randolph]

Today I feel like to unload some of my holdings, I have too many of them ... If GEMS is set to close below $4.01 today I'll dump it.

Results will be released on August 9th: Glenayre Announces Date for Release of Second Quarter Earnings

[David Randolph]

I don't know why I said «sell if it closes below $4.01», since GEMS closed at $4.03 and that was below the ascending trendline.

Anyway, it closed below the ascending trendline, and my trading plan was based on GEMS uptrend, which is now in doubt. I have no more business to do with this stock, I'll sell it today at the open.

Four consecutive losses on the 3SOF portfolio, letting go of the losers to seek the winners. I was never sorry to take a small loss but I've been many times sorry, in the past, for keeping those losers.

[David Randolph]

Sold GEMS @ $4.

[setravis]

Changed Ticker Symbol.......
GEMS is no longer valid. It has changed to "EDCI"


The GEMS/EDCI Threads in Previous 3SOF Picks
Have been merged.
Got the go ahead to do so from Ramsburg.
I will be working here on this board to merge other threads also.

I will leave you Friday's closing chart while I'm in this thread....... 

Good trading to all !   

Regards,
Your fellow trader @3SOF
setravis   

[wrangler]

Good watchlist candidate here,,looks ready to move up : JMO

[wrangler]

chart update