DSTI

[kslifka]

Nice job...nice profit.  I just noticed on the daily chart DSTI put in a double top.

Don't know what you have in mind but you may want to consider selling and buying back lower.  My opinion.

I had been watching this one since last year waiting and waiting. Call it a gamble but I invested $10k yesterday. Guess who's happy today? Wish I would have had more to invest but most of it is tied in the 3SOF portfolio. I didn't see it falling much farther despite all the dumpers on yahoo.

[lancefur]

I already sold everything with the same idea in mind but not sure what a double top means? I just used my gut on the purchase of this stock since I liked the way the chart was looking and have been familiar with the company for a while. I got out with a 53% profit though.  I hope it tanks tomorrow so I can buy in cheaper like I did last night when I did my initial post.

[kslifka]

Here is a double top on the daily chart..

[lancefur]

So a double indicates a potential downward trend again with a great opportunity to buy in at a lower price and still make some coin on this? Or if my question is poorly worded, what does a double top tell the investor/trader?

[kslifka]

Intra -day double top indicates resistance for the day. 

[lancefur]

Awesome. I love this sight. I learn a lot everyday that makes me a better trader. At least a more knowledgable one, maybe not better. 

[lancefur]

This had a nice drop today. Could be a ready for a good long next week with congress having meetings about solar energy. Who knows. Any opinions?

[lancefur]

I bought yesterday and lost some but looks like a good bounce back today? Wondering if we have seen the lows and this is reaady for a run. It seems to have tested the 10MA so wondering if this thing will just fly up and away and say, buh bye now.   

Now that I typed that, watch it fall. 

[cumulina]

I haven't heard any news, but something is brewing, I think.

I only have DSTIZ, and they are up 39.72% now.

DSTI has so far hit 3.45 but it looks like it is taking a breather right now.

[lancefur]

This stock is looking like a day traders dream recently. I wonder if it's going to have any upward consistency soon? Probably not.  I am still holding and still making money. I am still not sure what's driving this beyond the State of the Union buzz about alternative fuel energy. I have seen some stuff but not sure if that would have this much of an impact.

[cumulina]

Ah - if only I was any good as a daytrader!

I am holding DSTI still - hoping for a continued good surge.

Reason for last weeks move:

Jan 19 (Reuters) - DayStar Technologies Inc. (DSTI.O: Quote, Profile , Research) announced a series of moves to restructure its finances, including the transfer of a $15 million senior convertible note to a new investor and a $5 million equity raising.

The moves triggered a 15.3 percent rise in the solar cells maker's shares to $3.31 on Nasdaq.

DayStar said it entered into an agreement with an investor under which the original investor will transfer the debt, a Class B warrant and the associated rights of each to the new investor.

Prior to the transfer, the company will make a payment to the original investor, in the form of cash and shares, which will constitute as payment in full for all amounts of principal and interest currently due.

Principal and interest payments to the new holder of the debt will resume with the first principal payment due on Feb. 19, the company said in a statement.

The company also said it agreed to sell 2.5 million shares at $2.00 a share to another group of new investors. (Reporting by Jennifer Robin Raj in Bangalore)

[ScottishTrader]

OK, intraday charting on DSTI.  This 15 minute chart gves us a good idea of the recent action on DSTI (man I wish I'd seen this before!!!)  We can see that it moves VERY explosively.  If you are aiming to buy a breakout, forget about it unless you are extremely quick.  Has to be about anticipating what the next move is going to be, as well as support/resistance levels where it should base and break out.

As we can see, after the initial breakout from $2 on the 11th, it made a double top (actually almost looks like a triple top) as ksflika pointed out and then started pulling back giving up a signifiacnt proportion of its gains.  However the pullback formed a falling wedge, which based at $2.50, where it struggled for the rest of the 16th.  Come Jan 17th, Bang!! off to the races again.  This time topping out at 3.45.  From this top it formed a channel pullback, and again you would be looking for basing action to demonstrate the next support level, which it found at 2.75.  On Friday it broke out from here again, first hitting 3.45 resistance, pulling back a bit and then going for another thrust up to 3.71.  It couldn't hold this level and pulled back, but so far, 3.18 has held.

Looking at this intraday chart, I think that 3.45 is important resistance, as is 3.71, friday's high.  It would be nice to see 3.18 hold, but if it decides to make another pullback, it looks to me like it may come back down to 3.00 or even 2.92-2.94, before basing and making another breakout.  That is, if it continues this pattern.  The 5 minute chart makes me think it might also be putting in the right shoulder of an H&S top. 

If you already have some, make sure you lock in profits to protect against a significant downside move.  If you are looking for entry, watch for low volume basing suggesting it has found a support level, on either the 5 or 15 minute charts.   I would just be careful here, as it has already made a very significant move in the last few trading days and may need some consolidation in this range before heading higher.  But you never know in these crazy markets, you just have to do your best to read the situation as it stands.

[cumulina]

Nice, ScottishTrader.

Now - here is a story that'll make all solarstock owners go absolutely GA-GA!

Wal-Mart's Solar Energy Vision

The retail giant recently issued an RFP, or request for proposal, to install solar energy systems on its stores in five states -- the largest procurement of solar ever proposed. Bids are due on January 5, hence the end-of-year scrambling.

http://makower.typepad.com/joel_makower/2006/12/walmarts_solar_.html


The result of this is supposed to be announced feb. 28 I think.

Also, tuesday President Bush is going to speak:

In the clearest sign the White House is responding to international and domestic pressure to act on climate change, Tony Snow, White House spokesman, yesterday said that in the president's State of the Union on Tuesday Mr Bush would seek to "balance the needs of security and, at the same time, also the environment. And you can expect him to make that linkage in the speech."

http://www.ft.com/cms/s/c26cae10-a765-11db-83e4-0000779e2340.html

One should really keep an eye on alternative energy stocks in the near future.

[ScottishTrader]

Absolutely Cumulina.

Have a look at Sunpower (SPWR) I have a thread on it here at
http://www.3stocksonfire.org/trading/index.php?topic=7420.msg78328#msg78328

Is looking pretty good right now.  I do like solar companies a lot (my dad started a solar heating company in the 80s), but most of them have been getting creamed over th last 6 months or so.  The exception seems to be SPWR (althoguh I haven't had too much of a look into the secotr, though I know you like it too )

Back to DSTI,  I just noticed it got hammered in the aftermarket on Friday, and is down over 11% at 2.95.  Will be interesting to see tomorrows action, whether that 2.92 level will hold or not

[waxweazle]

Looks like a breakout of the bullish wedge