G's place II

[eagerlearner]

elite thanks for the fast reply.
i am in PWEI with you too .... the rectangle looks perfect .... does it need to close above 25.85 to validate the breakout?
Thanks!

[eliteG]

elite thanks for the fast reply.
i am in PWEI with you too .... the rectangle looks perfect .... does it need to close above 25.85 to validate the breakout?
Thanks!

thats a good question.. one can draw the higher line a bit lower and say that its already broken out too(as the chart below shows) but what makes me feel comfortable is the volume increasing on this rise.. money is flowing in.. even if we dont break and run yet, we will be set up 

woops no chart below

[catrader]

glif, now 0.03 +0.007 on day, setting up for g2 or g3 you think?

[eagerlearner]

PWEI -- big volume just came in and pushed it down , then it bounced back again ... looked like some bad news hit , but i couldnt find any ..
hmmm

[eliteG]

PWEI -- big volume just came in and pushed it down , then it bounced back again ... looked like some bad news hit , but i couldnt find any ..
hmmm

yea.. or maybe some big guy dumping.. what a fool though he coulda got higher prices without doing that.. unless like you said bad news hit.

glif, now 0.03 +0.007 on day, setting up for g2 or g3 you think?

same as my comments before I think its worth a shot but ca.. I have to ask have you ever seen the g-pattern.. I mean there is nothing to imply g2 or g3 here at all.

[catrader]

rereading your g pattern thread, glif might be in g1 then, right?  increase in normal volums + increase in price.

[eliteG]

rereading your g pattern thread, glif might be in g1 then, right?  increase in normal volums + increase in price.

I agree but G1 is too general.. many stocks have a price rise with violent volume.. many stocks qualify for G2 as well.. but its the G3 that makes it a g-pattern and thats a passing of that g1 close/open/high.

[Loffigus]

Whoever sold all those PWEI shares may have been someone that bought them last year and wanted to sell them at when they were worth $2,000,000
It was about 80,000 shares - which at the current price would have been just over $2M

Not sure if that's right, but it's as good a guess as any.

[eliteG]

Whoever sold all those PWEI shares may have been someone that bought them last year and wanted to sell them at when they were worth $2,000,000
It was about 80,000 shares - which at the current price would have been just over $2M

Not sure if that's right, but it's as good a guess as any.

I hate it so much when a drop like that happens.. it happened to me once before on DWSN I think it was in October 2004 price dropped from 27 to 22 suddenly(so way worse than this).. geez.. still goin down and intraday looks weak.. but my stop going in was 22ish so I'll hang on unhappily for now.

[OneStockMind]

I'm following today's GLIF action and trying to learn something about level II and MMs.
So, ARCA was pushing it constantly with high bid up to .30.
Then TRAC showed up on the ask with huge size and ARCA followed doing the same thing.

Now, if they have a EOD run I'll know those asks were fake and they were trying to scoop up cheaper shares to make profit on that run.
If if closes low then I guess it was just a small run.

[eliteG]

I'm following today's GLIF action and trying to learn something about level II and MMs.
So, ARCA was pushing it constantly with high bid up to .30.
Then TRAC showed up on the ask with huge size and ARCA followed doing the same thing.

Now, if they have a EOD run I'll know those asks were fake and they were trying to scoop up cheaper shares to make profit on that run.
If if closes low then I guess it was just a small run.

You gotta watch out with those lvl II assumptions.. anything could be going on and none of us can confirm it at all but as human beings we like to put a story behind it.. so always keep that in mind, oh and I should mention that watching lvl II all day, can make you cuckcoo lol 

[OneStockMind]

Now you tell me 

[eliteG]

Now you tell me 

LOL.. I wish someone woulda told me 

[Loffigus]

Now you tell me

LOL.. I wish someone woulda told me

Now that you mention it, I do twitch a lot more ever since I started watching Level II's.

[eliteG]

wow talk about bad timing.. I mean I nailed the ker-plunk on PWEI.. I remain set with my stop but now I fear it can be hit today.. what I would give for mr.big sells address..