BEL - Spike calls a bottom.

[DSteckler]

Owen, I suggested on 4/6 that BEL would test the 200DMA, since the 61.8% retracement level was pierced. That's where BEL fell to Friday and held at today. What's concerning is that today's volume was much lower than the down days Tuesday - Friday. The situation still looks grim.

[spikefader]

Hey Owen,

Dude, don't feel too bad; we've all made dumb mistakes like that, so welcome to the club

For BEL, I follow it very closely, and have tried to call sensible r/r setups since the start of the thread. As you've read, I continue to hold long according to my plan with green hope and still about +10% as of today. I continue to targeted the gap fill up at 20.79 from 2/11/04 or +580% from my entry with a breakeven stop.

For up to date charts, head over to my BEL blog, the link in my signature. The latest chart is http://spike-on-bel.blogspot.com/200...-die-time.html and looking at today's action there is a nicely bullish candle today, with a 30 minute "tweezer" candle formation this morning at 3.17, and yet another close above price support. Considering those things, it's still in with a very good chance to bounce and recover. But below 2.90 and it's in serious trouble, and under 2.50 and it's a shot duck, all in my humble opinion.

So set your risk tolerance according to a logical plan, and best of luck dude.

[owenrm]

thanks spike.
Just for my edification, what is "r/r"

[spikefader]

thanks spike.
Just for my edification, what is "r/r"

r/r is risk/reward. Ideally for swing trades I search for setups that show at least a profit of 10-fold the risk, or r/r of 10. The bigger the better

By doing this, I'm putting the numbers on my side so that a few winners will beat the accumulated stopout small losers....but r/r is probably a concept you may focus on already during your trading??

Best to ya.

[Websman]

So much for BEL... I'll be keeping an eye on it over the next few weeks for a lower entry point.

[DSteckler]

thanks spike.
Just for my edification, what is "r/r"

Rodger Rabbit.

<g>

[spikefader]

Ting a ling

So much for BEL... I'll be keeping an eye on it over the next few weeks for a lower entry point.

Thanks fer stoppin' by Webs! Support is support until it ain't I guess dude. Shoo, my % profit just near doubled today! The Rodger Rabbit was just too good for the Street I guess

http://spike-on-bel.blogspot.com/2006/04/ring-bel.html

[New-born baby]

Thanks fer stoppin' by Webs! Support is support until it ain't I guess dude. Shoo, my % profit just near doubled today! The Rodger Rabbit was just too good for the Street I guess

http://spike-on-bel.blogspot.com/2006/04/ring-bel.html

BEL ringing the BEL on the long side today. Nice pop off the support line!

[spikefader]

BEL 2% risk support play today. http://spike-on-bel.blogspot.com/200...e-for-bel.html

Ringin' the bel!

[New-born baby]

BEL Bottom

Bel takes another hit this morning. Landed at $3 support. I wonder if $2.60 might come back in vogue again for another run to $5.

[spikefader]

Twas a good ride there for a while dudes. No joy and BEL gets the flick. Thought I was in with a real chance for a 5-bagger on that one, but alas, twas junk.

New hot stock to replace it is VLTS dudes. That thing's got potential!

Make 'em pretty.

[DSteckler]

<< New hot stock to replace it is VLTS dudes. That thing's got potential! >>

What gives it potential? A formerly $125 stock that has traded in the single digits for 3 1/2 years needs a lot of something to give it potential! <g>

[spikefader]

<< New hot stock to replace it is VLTS dudes. That thing's got potential! >>

What gives it potential? A formerly $125 stock that has traded in the single digits for 3 1/2 years needs a lot of something to give it potential! <g>

Click on the link I provided and there are plenty of charts and other tidbits of info that shows the bias.

[DSteckler]

I had but didn't see anything there about VLTS.

[New-born baby]

Twas a good ride there for a while dudes. No joy and BEL gets the flick. Thought I was in with a real chance for a 5-bagger on that one, but alas, twas junk.

New hot stock to replace it is VLTS dudes. That thing's got potential!

Make 'em pretty.

Click on "VLTS" above and you'll see it Dave.