MOVI is no longer valid. It has changed to MOVIQ.PK

[Terliso]

MOVI & IFO

[Terliso]

I'm gonna watch MOVI tomorrow for entering short position
3 big white candlesticks <<<<<---------- too much excitement ....

[Terliso]

I'm gonna watch MOVI tomorrow for entering short position
3 big white candlesticks <<<<<---------- too much excitement ....

MOVI went up from 2.60 to 7.57 in just 6 weeks almost 200%   <<<----people will take profits here

[ScottishTrader]

I'll pop a copy of that intraday symmetrical triangle breakout up here, as it is such a textbook breakout, its beautiful.  I was a little concerned it might break to the downside, with the pressure in the markets yesterday, and wasn't actually around to see it, but I entirely agree Aussi, we're on a rocket ship now, and there appears to be no significant resistance for some way here. 

Symmetrical triangle target is (7.36 - 6.30) + 6.85 = 7.90.  Lets see what happens when that target gets made.  In the mean time, Just let it roll!!

P.S.  Terliso has just started up a short thread on MOVI, and he may have a point about resistance at the weekly 50MA, which currently stands at 8.99. 
http://www.3stocksonfire.org/trading/index.php?topic=5935.msg64683#msg64683

I don't short stocks, and personally don't think that MOVI will crash out in the same way that IFO has done, but it is worth bearing in mind.  I think that the combination of heavy short ratio and strong institutional ownership here should provide strong upward momentum in the short term.  It would take an institution dumping its shares in a serious way to pull this down at this stage  (which I suppose is entirely possibe if they want to liquidate a position into solid volume).

[ScottishTrader]

Will be watching to see if and when you take a short position Terliso.  Am currently long this one and up substantially, and think this has a lot more room to run.  Technically, we have had some very nice pattern breakouts, and it lo0oks to be in full bull mode (as you mentioned).  The high short ration and intitutional ownership would require an insty to start dumping shares in a big way to pull MOVI back down.

Fundamentally, with recent earnings and restructuring, this is still way undervalued here, and I am expecting this to settle in the $12-15 range, so I would be careful about opening a short position prematurely.  but traders (including myself) may start booking profits in the coming days, so you may be able to catch a short trem pullback move.  For now, I think the 6.90-7.30 area will provide pretty solid support, and may be an appropriate short target if the pull back does come.

Who knows, we may both be right, and I hope we both make money on this one

[Terliso]

2) In my opinion the price will top out at least around $8.10 to $8.60 .....from here I'll take short position if I see the technicals go bad on the daily chart

[killjoy]

Hi guys, new to the boards and new to stock trading!  Just for future reference, what explanation do experienced traders give when they see a stock experience surges of volume, but the price cannot seem to break above a certain price?  I'm looking at the multiple small surges that happened intra-day around 9-10am pst.  The stock seems to be bumping heads with the price around 7.50.  If a stock lingers for so long, does it mean anything?  Again, apologies if this isn't in the right spot to post these questions, but I am slightly invested in MOVI in particular.

[ScottishTrader]

Hmmm... didn't like yesterday's action very much, and sold out later in the day at 7.20.  Looking for a decent re-entry into MOVI sometime today or tomorrow depending on how the intraday action looks.

At the moment it looks like it could be an ugly day in the markets....

[ScottishTrader]

Hey Terliso,
You were right after all, yesterday would have made a good day to enter a short position in MOVI!  I sold my shares yesterday afternoon, as the chart started looking like it would take a slide, and we are now $1 below yesterday's opening price.  Did you short it in the end?  (seems like you have been looking at a lot of short positions lately).

Am looking to re-enter around 6.30 if I get the chance, will see what today brings

[AussieTrader]

Yep, my stops got taken out I had moved them just shy of the $7 zone.

There is still a great upside story going on, but with the markest the way they are got to protect profit first.

[ScottishTrader]

OK Aussie, I'll move my posts back over to our (bull) thread.

Was considering re-entry at 6.30 today if possible, but MOVI still looks weak, with not enough buying kicking in at this level.  Market is in full-on bear mode today - any thoughts about a decent entry point?

[AussieTrader]

In this market its difficult to call. MOVI trying to hold around $6.30. Just above 200sma.

[Terliso]

Hey Terliso,
Did you short it in the end? 

No, the volume is low so I did not trigger my short position.... Though I could have make money if I put a limit order around my opinion price

(seems like you have been looking at a lot of short positions lately).

Yes, that is my rule #5
Rule #5: Bulls or Bears - Analyze the direction of the market, trade only at the right side of the market (Long or Short it does not matter as long as you make money

[guledh0]

If MOVI hold above the 200MA thru next week. This stock is bound to rebound this year. MOVI FOR LONG.

[hardmoney]

I got a plug for MOVI on myspace.com of all places.