MSPD

[stocky]

Seems to me like double bottom with some potential upside. Any comments?

[J.Livermore]

Yes, it loks like a double bottim, but we still to watch a breakout.
Tuesday, we«ll got answers.

Thanks

[stocky]

Its ready to pop. Watch out tomorrow.

[eliteG]

its a pretty chart...its goin on my watchlist, thx 

[setravis]

agree here.......just may wet my feet come tomorrow on this one.

[AussieTrader]

Nice one stocky, I like this type of pattern, certainly can fill that candle if the vol comes in, good risk reward play.
Mike

[basonista]

From what I understand of G-spots, it looks like we had a breakout today.

MSPD has been looked at on it's other spikes and David even considered it for the 3sof portfolio.  May be a good one to look at again....

[David Randolph]

I need to think fast and write this recommendation fast, because my time is running out before the opening bell. I will justify this trade better on my first update, after the close.

Basically, I have these motives to buy the stock at today's open:

1) Fundamentals are improving rapidly and the stock is undervalued: Mindspeed(R) Reports Fiscal 2005 Third Quarter Results; Delivers Revenues of $27.7 Million, Achieving High End of Company's Expectations

2) New brokerage firms are covering the company with buy ratings, and their clients will be attracted to the stock, as soon as it starts rising, as it's happening now: News Headlines about Mindspeed Technologies Inc (MSPD)

3) The stock rose sharply on the earnings news but it wasn't technically ready to advance, came down a bit and consolidated those gains, and now it shot up to new short term highs (a G-Pattern, well, not a pure one but I guess eliteG won't mind me using his pattern in a distorted way  )

4) There's an important resistance at $1.81. In fact, very important. If the stock blows out that resistance you'll see a lot of technical guys jumping in. I believe the stock will achieve that in the upcoming days (possibly today), fundamentals and recommendations from brokerage houses will ensure that. Perhaps the real deal in terms of resistances was the one on the long term semi-log scale chart, which was broken on the upside yesterday !  

So I'm buying MSPD at today's open for the 3 Stocks on Fire Portfolio, as usual, 6.66% of capital. Here are the short and long term charts:

(This recommendation was made by David Randolph from 3 Stocks on Fire. 3 Stocks on Fire is a Community of stock traders and investors. Our 2814 members change trading ideas and strategies on our message boards everyday. We welcome you as a new member of the 3 Stocks on Fire Community, please take 10 seconds to register and receive our free newsletter)

[nikao]

hmm .. interesting chart.... We can see the same thing here as in PETS.. big white candle with consolidation with an exact touch of the open of the candle.. will watch this one if it's gonna do the same the coming days.. the open of the new white would be a good entrypoint

[rickjust]

the open of the new white would be a good entrypoint

hi nikao,
do you mean yesterdays open at 1.52 ?
thanks in advance
maxi

[nikao]

yes that's exactly what i mean
Look in the PETS thread on this forum for more information about this pattern.

[marshagogo]

I think this is a good pick. I wish I didn't buy at the open $1.81 but bought more at $1.73.
I believe within a couple of days this may reward us well.

[agentq314]

Hi! I bought MSPD today @ 1.75. I am new to 3stocksonfire. I learned about your service through trading VPHM.

[jeff46902]

I actually bought some of this stock a couple weeks ago at $1.52 on its first pop.  Saw it go up to high 1.60's, then was disappoined to see it trade in the low 1.40's for the next couple weeks.  Something told me to keep holding it, and I'm glad I did!  I hope this goes up higher for all of us. 

Jeff

[shawFund]

Hi, Dav:

   Any update on this one?