SIGA - Sector: Healthcare---Industry: Biotechnology & Drugs

[Se7en]

It seems like a real battle, for the latest 2hrs there was always 10 or 20k at the bid if it was at 3.23 - 3.25!

[Melf Elf]

It seems like a real battle, for the latest 2hrs there was always 10 or 20k at the bid if it was at 3.23 - 3.25!

Yes, and unfortunately, The Bears won the day, closing it out at the 3.23, below the channel (3.25) and below the Kumo (Cloud), also at 3.25.

UGH. 

Our 3.20 target from the intraday triangle breakdown MADE.  That was the session low.  The bottom of the channel comes in today at the 3.20, so if SIGA opens UNCH, it "technically" will be back inside the channel, but it's also in "technical default," for having closed below the channel yesterday.

SIGA really needs to take the Bull by the horns (literally), and rally outta here!

If 3.20 gets broken, SIGA "could" double bottom at the November 2 low of 3.10 (or 3.09...3.08, for a little fakeout), but it's pretty tough to defend staying long if that breaks, with that big gap yawning below.

Good luck to those long.  Please use a stop loss to protect yourselves.  "Don't let a small loss turn into a disaster."

I just got stomped out at 3.50. Dang it! It didn't bounce like I was hoping it would.

O well......On to the next trade.

Thai,

Applause for using a stop.  Sorry that you got "stomped out,"  but that made me laugh.  It really should be called "stomped out."  It's much more descriptive of how we feel, than "stopped out."

[Se7en]

Nice reaction so far today, up around 7% with a high of 3.49!

[Melf Elf]

Nice reaction so far today, up around 7% with a high of 3.49!

Se7en,

SIGA did what it had to do, off the bottom of the channel.

It gapped up and ticked above the 3.31 that we were looking at yesterday, came back and filled the opening gap exactly, at 3.23, then took off to the upside, leaving the 3.20 target MADE, as the exact low for the move down.

Nice job, technically!

It's "On Fire" here.  Somebody just bought 27,500 shares on a gap up from 3.53 to 3.58 (see chart below), so there's some buying interest coming in.

It would be good for SIGA to settle down now, and form a base for a rally back to resistance.

Good luck!

[Se7en]

Melf, I think you posted the wrong chart! 

[mitchjas]

Melf Elf - Great to see your technical comments!  I always enjoy reading your technical posts because they make alot of sense the way you put it.  

Thanks,
Jason

[Melf Elf]

Melf, I think you posted the wrong chart! 

Se7en,

Oops...I sure did! 

Sorry about that.  Here's the correct chart.

Melf Elf - Great to see your technical comments!  I always enjoy reading your technical posts because they make alot of sense the way you put it. 

Thank you, Jason.  I often feel that my comments are much too technically detailed, and possibly confusing (if not outright B-O-R-I-N-G), so I especailly appreciate knowing that they make sense to you.  Thanks again.

[rickjust]

hi,
just hit my buy limit 342
maxi

[etercnoc]

Melf


   Thanks for the great charts. Where do you get them from?Thanks again.

[etercnoc]

Also do we need to close over 3.52 to break the down channel?

[Melf Elf]

Thanks for the great charts. Where do you get them from?Thanks again.

etercnoc,

This chart is from Metastock, which I purchased years ago.  I pay Reuters $35.00 a month for end of day data on stocks and indices.  It's only about $25 a month if you just want stocks. 

The charts with the black background are from Scottrade.  Those are free.

Also do we need to close over 3.52 to break the down channel?

The top of the channel comes in today at 3.61, slightly above today's 3.58 high.  We'd need a close of 3.62, or better, for a channel breakout.

Good luck!

[bula]

I'm thinking this one is getting closer to a buy here.  I'd like to see a reverse candle at the open to 3.2.  If Melf's bottom channel holds there, then I think timing is right for a break.  I'm gonna bid a half position near the channel bottom and then save the rest for a breakout buy if it occurs.

Good luck.
Bula

[wontfindaname]

Looks like the bottom is falling out on this one today. I'm still holding though.

[Se7en]

Looks like the bottom is falling out on this one today. I'm still holding though.

touched exactly the lower bollinger band and the 50 MA is also just underneath!

[for3J1M]

wow, this is starting to look ugly! we need some news!