GlobeTel Communications GTE - is no longer valid. It has changed to GTEM.PK

[Lucas Scott]

Hi Terlisa - the H&S on your chart seems to me a bit of a reach because the left shoulder took a year to form and the right shoulder only two months. Either way I think today's move invalidates that particular H&S. Wow, what a tear GTE has been on!

[Lucas Scott]

Just 5 sessions left for the $1000 bucks... GTE is leading the money 83% so far

YEAH!! That's my pick!! I'm starting to feel like Secretariat at the Belmont.

[Melf Elf]

While it could be driven higher toward the 3.53 target IN PLAY purely on fundamentals, technically, its "ahead of itself," with the 50DMA and 200DMA badly inverted.

I thought that GTE would have more trouble than it did at 3.00-3.045 resistance, but it was "on fire." The 3.53 pattern target MADE this morning.  Congratulations to those long, and to LukeQ, who has GTE in the Stock contest.  Nice pick...applause!

GTE currently is BID 3.28...ASK 3.30, down seven cents on profit-taking.

[metro]

I sold today as RSI above 70 and candle above top B band and MACD too high for me and it hit target.

Now will see what it can pull back to ...

http://tinyurl.com/dgzmg

This is the best on on the contest - good timing...

[JKN]

I cashed in my trading shares of GTE at $3.50, still holding nice core.    Just looked way overbought to me and I think that massive resistance looms above 3.65.  News may drive this well above $4 but I had to take my profit here.  I'll definitely pick some shares up if it pulls back, hopefully in the $2.50 range.  Lots of momo and emotion in this beast right now, news could really light it up.

Good luck to all !

[ScottishTrader]

Well GTE had its pullback, marking a recent low of 2.80, very close to the 38.2% fib retracement level of 2.75.  Is now pushing back to the 3.30s.  I still like GTE a lot, and have my holding from 1.96 (though I originally bought at the first 1.60 breakout - oh that I had held my original position )

Interestingly, the Fib extensions calculated from DDmachine.com give some pretty tidy targets - low target of 4.27, likely target of 5.18 for this run, now I like the sound of that

In any case, I think it may retest recent highs this week, the only thing I am concerned about is how it will react to news (seen too many run-ups only to "sell the news", no matter how good).

Any other comments on recent action ar much appreciated

[ScottishTrader]

OK, slight adjustment to my trading plan - have been working from a log chart, but the linear one fits much better.  Also, the 10 Day EMA  Looks to have provided support on several occasions lately, so I will use that and my revised (linear trendline) to protect profits. 

RSI pulled back towards 70 today (may have crossed over) so I am watching carefully for a pullback - I don't want to see a close below 3.00, but GTE got a pretty strong bounce off its low of 3.06 today, and I think it should react positively if it comes down to the ascending trendline.

[bjc]

After selling into the rally at 3.00 for a quick 20% last time, I decided to get back into my position.  I'm paying about a 10% premium to the shares I sold about a week ago, but I think the next move for GTE should be upward.  Bought at 3.28 today.

I think it's ready to rock and roll any day.

[ScottishTrader]

well bjc, I hope you are smiling, as GTE keeps on trucking

Another small but solid positive performance today, GTE broke through important resistance on Friday, and today's action showed continuation of that move.  Once again, the trendline was confirmed on Friday.

While it was a little disconcerting to see the generally low volume (actually vol. wasn't that bad, over 1mil shares traded), and that it pulled back for most of the day, it closed strong and I think it is well set up for upwards continuation of this breakout tomorrow.  Next serious resistance is just below $4. 

[bjc]

ScottishTrader-

Smiling, indeed .  Too bad it's finals week.  I'd like to see us push through the high in late November  on some high volume, I think 3.66 (stockcharts.com is down.)  I'm hoping we break through tomorrow and I can unload my shares in the 3.80s or 3.90s...

[bjc]

BINGO Scot!

I'm thinking about dumping my shares here, but dont want to blow another 20% like I did last time (and like is happening right now in NVAX  )

What are your plans currently?

[ScottishTrader]

I know what you mean, and each person has to think about their own risk and when to lock in profits.  Personally, I see GTE hitting key resistance right around here, but it is acting very strongly today, and I think we have a good shot at breaking $4 if not today, then later this week.

This is the key point, as you can see on the chart, and one of two things could happen - it could pull back and trade in range to form the handle of this cup formation, which would also be nice and bullish, or it could just push through, whic if it does, I don't see a lot of resistance below $5.

Personally, I'm sitting with a 94% gain here, and I would sure like to see a double, so I'm gonna hang on for now.  I'm pretty confident that GTE can break $4 with this kind of momentum.

[bjc]

I had my finger on the trigger, but I'll continue to hold.  A poster on Yahoo! spotted a second couple and handle, dating back to about June 05.  The handle might be a little short, but I just want to see what this puppy has left to give.

[bjc]

Sold at 3.88.  Didn't want to watch a quick 19% profit disappear. 

Scot- did you take your 100% profit?

[ScottishTrader]

Sorry, haven't been able to post much lately - I ended up selling this week at 3.50, below where I would have liked, but I was waiting for a break off the trendline, and thought GTE had it in it to test 4 again.  I guess I was wrong

The last couple of days have been pretty ugly with a lot of profit taking/panic selling - hey I sold out too!  However, the chart right now looks ok, and if the low of 2.80 holds, this could be seen as healthy.  2.81 was the 50% fib retracement level, and the longer term ascending trendline and 200 MA both provide support just below this level, so this could well be a good time to get back in.

However, having seen so many stocks break down and break through perceived support lately, I am not sure if I'm willing to take my chances right now.  Looking to get to cash, and safe investments for the christmas period so I can relax andd enjoy myself, esp as I won't be able to check things much.  Not sure what I'm willing to hold right now, but GTE may be an attractive buy in the low 2.80s if it goes back there.  See what today brings.