SUF - Sector: Basic Materials --- Industry: Independent Oil & Gas

[setravis]

Reversal in the works.......
Too much up pressure
Volume is positive.......Doji/Harami.......  

52wk Range: 2.25 - 12.49
Volume: 1,755,900
Avg Vol (3m): 501,697
Market Cap: 296.81M

Technicals
Most Actives
Percentage Gainer

Last Price Quote is:
16.54%above 13-day MA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): N/A 
P/E Ratio: N/A 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/A

[ScottishTrader]

Now I know cheap can get a lot cheaper, but we may have a potential double bottom situation here with SUF.  Friday's candle was a Doji and an inside day, suggesting a potenial reversal.  Buy pivot (at least to me) would be a print of 2.81.  With a stop loss at 2.49, that would give a risk of abut 11.4% - high, but considering that a move back to first resistance at 3.68 would represent a 30% gain, it could be worthwhile.

SUF has had a lot of setbacks but thier technology is coming online.  I don't think it is the endgame for them just yet, but really the beginning.  Their change in leadership, and their recent determination to be transparent with investors bodes well, but of course, it is all about demonstrating their technology.  I'm not a believer yet, but this does seem to be an interesting opportunity....

[ScottishTrader]

SUF on a double bottom tear!!  Up 47% since my last post on March 9th!!  If it breaks $4 -4.20 here, I think we could see some fireworks!  The high of the "W" is at 4.72, with the low of the right leg at 2.35, if it gets past 4.72, it would put a target of 7.09 IN PLAY.

[ScottishTrader]

loks to me like SUF is forming a Cup & Handle formation on th 30 minue chart.  Looking for upside resolution.....

[ScottishTrader]

SUF had a strong close yesterday and looks set to break out above 4.17-18 resistance.  Not much news from the company, but what we do know is they are set to start testing of the Fujairah facility in the next month or so, barring any further delays.  This looks to be an important time for Sulphco.

Technically, the chart looks poised for a potential rally.  The weekly chart shows that it has broken out of the long term downtrend that stretches back to the highs in December last year.  With a nice double bottom put in, this could be the beginning of a new uptrend for this heavily shorted and downtrodden stock.  A break of $4.20 *should* get SUF back up to $5, although there looks to be resistance at $4.50 as well.  A move above 4.72 would put a W-bottom breakout of $7.09 IN PLAY.  I'll be looking to add o my position if we get above 4.20 today.

[ScottishTrader]

Did I mention the Cup & Handle on the intraday???

Handle breakout yesterday, with the stock closing right on the "rim" of the cup.  A breakout of this pattern would put a target of 5.07 IN PLAY

[ScottishTrader]

Well in case you missed it, SUF had a super day, breaking out above 4.17-20 resistance (the top of that cup) and rallying strongly on above average volume.  SUF closed right on next resistance at 4.72, so we may see a bit of a pullback, but there was strength going right into the close and not much selling, so I think this move is set to continue.  here may be some resistance around 4.93, but I think SUF should break out of this W-bottom and be trading north of $5 very shortly.

[ScottishTrader]

Re-post from Ares' "going in with momentum thread, plus his charts.  Cheers ares 

Ares,

I like your analysis of the situation, and agree, now is not the time to be buying SUF - there is major resistance at 4.95-5.00 both from the chart and the 200MA and it may struggle a bit to get through there.  As far as using the RSI (2) to inform trading decisions, I like it (it reminds me of the CCI, an indicator I like to use), but just remember that these indicators must only be used as supporting evidence to what you see on the chart.  They can inform trading decisions, but basing decisions off them (especially one with such a short period) can lead to too many whipsaws and inopportune entry points.  But I'm sure you already know that.

As for SUF price action, they released a correction to their form 10 yesterday AH which seemed to bring the stock down 12% in the aftermarket, however, only 600 shares were traded after hours, so this can hardly be seen as a watershed.  I sold almost half my SUF yesterday to lock in a 30% gain, it seemed a reasonable thing to do considering the recent run and the looming resistance levels.

If we do get a retrace, I would like to see the recent breakout level of 4.18 hold, so will probably set my stop on the remainder down near there.  I may even try and pick up more shares at that level.  It is often worth aiming to pick up more shares when a stock tests support for a low risk entry, provided you have a close stop if that support level fails.

The problem with SUF is that the company itself has no revenues, no earnings and has been losing money ever since inception - all they have is a promising and potentially revolutionary technology.  Sounds like a biotech really, not an oil technology  company.  The market is and has been pretty skeptical on them over the last year, and a lot of people ar betting on the technology failing, and that they will never see revenues.  This is entirely possible, but they have been building a major facility, which is scheduled to be complete in the next month or two, so d-day on the tech is looming.  If positive results come out of this facility, thn we should see a major short squeeze.  But my recent experience with DNDN has taught me to treat every trade as a trade, nothing more nothing less.  Don't get sucked into "believing" in a technology or a possible outcome, and letting that influence your decisions, which for me at least, need to be based on what the chart is saying.

[Ares]

Hi ST,

I finally got a chance to read the SUF thread from beginning to the latest post.
I really enjoyed reading it and had been admiring a lot of the TA inputs.

When I got to the last post, I was so surprised

I feel honoured and encouraged that you pasted my analysis.
I can't believe that someone I look up to would refer to it.

Thanks for the encouragement.

Attached is the most recent way I look at SUF.
Comments on this is appreciated (good or bad) so that I could improve on my charting ability.

Currently, on my tradefreedom charts, I see that price closed above the 8ma of the weekly,daily,hourly, and 15 minute charts.
The previous week's candle high is at $5 and the 200ma is at $5.21(resistance)

It looks like this would be a good momentum play on monday if:

Price trades at least 2.5% from the open (changed the 25 cents above the open per your suggestion)
has a positive net price
nice level 2 set up
green prints (block trades coming in would be better) filling the tape.
Ax leaving the offer
the $5 resistance broken
watch out for the $5.21 resistance (this may be broken too if demand is high)

Keep on trading well,

Ares

[setravis]

Reversal in the works.......
Too much up pressure
Volume is positive.......Doji/Harami.......  

Double Bottom (reversal) Pattern.......BreakOut !

52wk Range: 2.25 - 12.49
Volume: 589,500
Avg Vol (3m): 563,860

Technicals
Percentage Gainer

Last Price Quote is:
14.15%above 13-day EMA


Double Bottom (Reversal) Pattern

The double bottom is a major reversal pattern that forms after an extended downtrend. As its name implies, the pattern is made up of two consecutive troughs that are roughly equal, with a moderate peak in-between.

Although there can be variations, the classic double bottom usually marks an intermediate or long-term change in trend. Many potential double bottoms can form along the way down, but until key resistance is broken, a reversal cannot be confirmed.

It is important to remember that the double bottom is an intermediate to long-term reversal pattern that will not form in a few days. Even though formation in a few weeks is possible, it is preferable to have at least 4 weeks between lows. Bottoms usually take longer than tops to form and patience can often be a virtue. Give the pattern time to develop and look for the proper clues. The advance off of the first trough should be 10-20%. The second trough should form a low within 3% of the previous low and volume on the ensuing advance should increase. Volume indicators such as Chaikin Money Flow, OBV and Accumulation/Distribution can be used to look for signs of buying pressure. Just as with the double top, it is paramount to wait for the resistance breakout. The formation is not complete until the previous reaction high is taken out.

[setravis]

Technical Play...
Has broken out of a double bottom after a long downtrend.......
Back above the 200-day MA


52wk Range: 2.25 - 12.49
Volume: 362,900
Avg Vol (3m): 566,208

Technicals
Percentage Gainer

Last Price Quote is:
20.19%above 13-day MA

[ScottishTrader]

thanks for updating setravis, haven't been around much recently as I've been pretty busy.  Still holding SUF though, and its treating me well.  Yesterday's break of $5 was crucial and we are seeing nice follow through today.  Still no news to drive the price, but often when there is no news, just follow the money - I think we may hear some details about Fujairah very soon...

[setravis]

Press Release Source: SulphCo(R), Inc.


SulphCo(R) Announces Annual Meeting Scheduled for June 19th
Friday May 18, 11:24 am ET 
Upcoming Investor Conference Call Scheduled the Week of May 28th


SPARKS, Nev., May 18 /PRNewswire-FirstCall/ -- SulphCo®, Inc. (Amex: SUF - News) announced today that it will hold its annual meeting on June 19th, 2007 at 9:30 a.m. The meeting will be held at the offices of K&L Gates, 599 Lexington Avenue in New York City.


Prior to the annual meeting the company will host a conference call the week of May 28th outlining the status of our testing initiatives and progress of the probe development program. Details of the call will be released next week.

About SulphCo®, Inc.

SulphCo® has developed a patented safe and economic process employing ultrasound technology to desulfurize and hydrogenate crude oil and other oil related products. The Company's technology is designed to upgrade sour heavy crude oils into sweeter, lighter crude oils, producing more gallons of usable oil per barrel.

For further information or to arrange interviews with CEO Dr. Larry Ryan or other SulphCo senior management officials please call (212) 843-8073 or email [email protected].

From time to time, the company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly.

--------------------------------------------------------------------------------
Source: SulphCo(R), Inc.

[setravis]

Technical Play (Long Recommendation).......
Recent CandleStick Analysis
Very Bullish
May-17-2007 Bullish Engulfing 

52wk Range: 2.25 - 10.00
Volume: 617,244
Avg Vol (3m): 491,877

Technicals
Stochastic - Bullish
Percentage Gainer

Last Price Quote is:
1.68%above 13-day MA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): N/A 
P/E Ratio: N/A 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/A

[setravis]

Press Release Source: SulphCo(R), Inc.


SulphCo Restates Calculation for 1st Quarter Deemed Dividend
Wednesday August 8, 12:49 pm ET 
This non-cash item does not impact the Company's current or ongoing operations


HOUSTON, Aug. 8 /PRNewswire-FirstCall/ -- SulphCo®, Inc. (Amex: SUF - News) announced yesterday that the management of SulphCo, Inc. (the "Company") in consultation with the Company's Audit Committee, concluded that its previously issued financial statements as of and for the three-month period ended March 31, 2007, as included in its Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission on May 15, 2007 (the "Q1 2007 Form 10-Q"), should no longer be relied upon as a result of the Company's determination that it had incorrectly accounted for the non-cash deemed dividend resulting from the inducements provided to the 2004 Warrant Holders and the 2006 Warrant Holders in March 2007. The misstatement had the effect of understating the Company's Net Loss Attributable to Common Stockholders by approximately $11.4 million or $0.16 per share. After giving effect to the full amount of the non- cash deemed dividend (approximately $11.5 million), the Company's Net Loss Attributable to Common Stockholders is approximately $14.5 million versus approximately $3.0 million as originally reported. On a per share basis, the Company's Net Loss Attributable to Common Stockholders is $0.20 per share versus $0.04 per share as originally reported. The Company intends to file restated financial statements to correct this misstatement in its Q1 2007 Form 10-Q as soon as practicable.


Stanley W. Farmer, Vice President and CFO of SulphCo® stated, "In full compliance with the rules of the SEC, the Company filed a Form 8-K reporting these facts. However, since the Company had not filed a press release regarding the events reported in the Form 8-K it was not in compliance with AMEX regulations. As a result, the AMEX halted trading on SulphCo's stock until a press release was issued by the Company."

About SulphCo®, Inc.

SulphCo® has developed a patented safe and economic process employing ultrasound technology to desulfurize and hydrogenate crude oil and other oil related products. The Company's technology is designed to upgrade sour heavy crude oils into sweeter, lighter crudes, producing more gallons of usable oil per barrel.

From time to time, the company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly.


     Contact: Adam Mazur
              Rubenstein PR
              212-843-8073
              [email protected]

              Tim Clemensen
              Rubenstein IR
              212-843-9337
              [email protected]

--------------------------------------------------------------------------------
Source: SulphCo(R), Inc.