DIET

[David Randolph]

Still nothing out of DIET. Technically it wouldn't be nice if the stock were to break the $3.10 support on close. I'll continue holding DIET.

[David Randolph]

I'll sell DIET today due to my general market forecast. I was a fool in letting this go down so much (still didn't breach the money management 2% rule, so it's ok).

I'll still listen to that conference call, but will be more demanding on valuation multiples and much more conservative on forecasts.

[soxguy]

we have a diet sighting.

[soxguy]

Another diet sighting. A recovery underway?

[soxguy]

Another diet sighting. Huge increase in volume. Meaningful? Up 70 cents from the low on tuesday.

[ygtrdr]

Something's going on with DIET. May look to enter on Monday.

[soxguy]

I never sold my position,so i watch this closely. It started moving after they announced those terrible earnings. But,as David said,it's not about the earnings as much as it's about the plan going forward. Obviously someone is optimistic. We shall see. My cost basis is 3.85. Hope to see that soon.

[soxguy]

Diet up again,5th day in a row.

[traderjbr]

DIET pretty strong past several days?

[soxguy]

Up over 5% today.

[traderjbr]

Sliced right through 3 significant layers of resistance with ease,very impressive price/volume action.Nice going soxguy!

[soxguy]

Up another 2.13%. At this point i'm just along for the ride.The last 2 weeks have been fun though.

[ScottishTrader]

Ascending trednline intact on DIET on the 30 minute chart.  Look for a break of this trendline to signal consolidation or a pullback.  Would seem to me to be an appropriate point to take some off the table after a significant run.

[soxguy]

Thanks for the heads up. I'd love to sell at $4 though. We'll see.

[Ares]

I'm just wondering if anyone here uses the linear regression/rsi(2).

I'm still learning how to use this tool.

This is what I see for DIET

These are the current regression lines I see.

3.83 = 5th line (top)

3.56 = 4th line

3.50 = Daily support/resistance congestion area.

3.30 = 3rd line

3.02 = 2nd line

2.76 = 1st line (bottom)

RSI(2) is below 20 and close to 0.

Does this mean that 3.50 is the bounce area or is the price still heading for 3.30 for the bounce?

What I also see is a sideways linear regression line.

The pullback is on it's 3rd day with a short inverted hammer on low volume.

Any comments on this risk rewar plan?

Buy at 3.30 with a stop at 3.20
risk = 10 cents

Sell at 3.56
reward = 0.26 cents

Sell at 3.83 if it breaks 3.56 (3.46 trailing stop)
reward = 0.53 cents

If it breaks 3.83 and top linear regression line rose above 3.83 (3.73 trailing stop) or sell when price hits the top regression line with RSI(2) above 80.
reward = ?