BEL - Spike calls a bottom.

[billyjoe]

Adam,
I might add that BEL has been less volatile the past few months than virtually any of my Cheap Stock Portfolio under $10 stocks that have been screened for superior earnings and relative strength.

billyjoe

[Adam]

Good input I'm learnin so much from you guy's smokes startin to come out my ears. I'm going to keep my eye on that one tomarrow.

Question: I'm currently holding a position in LKQX which took a major jump after some time of consolidation. I'm up about 17% in this position and keep kickin around selling into this strenght. Are you familiar with this company? Just lookin for an opinion. I hold noone responsible should their opinion be wrong.

My impatience strikes again!

[Adam]

My objective: long-term hold. Gap fill the target, as mentioned in 1st post, with a stop to even as soon as it breaks out...

Has it surpassed a fair buy point? Well, what do you consider a 'fair' buy point? I look at it in terms of risk reward based on the bullishness of the chart. The first is measurable and planable, the second is interpretive of the charting. Some people would consider the current chart as still not good enough to trade. And that's OK. Perhaps confidence in the chart comes on a breakout, in which case there will be dozens of good r/r setups present themselves as you stalk it over the course of 2006. But whatever you do, you want to define what makes a play 'fair' to you and meets your objectives. If you don't like the TA I've presented, don't trade it. If you can't find the r/r that suits, don't trade it. If you can't handle the risk of slippage or gap downs or something terrible hammering the price down, don't trade it. That applies to every issue you are contemplating trading. I say all this cuz I feel that it's important in light of the bias and posting I'm doing for BEL.

So I would strongly recommend that you define fair in terms of risk and reward. Insist on a very healthy r/r ratio for your entry. Spot the support, the logical area to hide your stop under, and having done all DD and accepted the risk that you may lose money on it, execute that plan.

So where to buy if you do like it now? All ya gotta do is spot those support areas that hold or find those little quirky patterns that will give you those perfect entries and draw your line in the sand.

Me? I spot another opportunity tomorrow's intraday pivot. A 4% stop puts it under the gap support area, a 5% stop under the price support area as well. If you place your stop lower and introduce more risk, you better note that failure at 2.90 might lead to quite some slippage, meaning fast drop with little bidding until support lower down near the gap. So when you think about it, the current setup (tomorrow) from a slippage point of view is a good one, i.e. it's under support, but not under crucial support. Any slippage 'should' be minimal at 2.89. I say should cuz who knows for sure how many stops will be there too, and how big the holders are, and how much 'support' comes in after that failure.

But here's the chart:

If I understood correctly if I were to take a position in BEL than my stop loss shouldn't be under $ 2.90 no matter what point my buy in is at.

[spikefader]

..learnin so much from you guy's smokes startin to come out my ears.....
Question: I'm currently holding a position in LKQX ... selling .... opinion.......
My impatience strikes again!

lol

LKQX; nice pick! wonderful money flow, and a recent channel turn up that was bought nicely without taking out a 4% stop. So it makes sense to chase sometimes ya know?

And today I note it has an upper reg channel tag. I call it a profit-taking tag until it's forced to expand, and then it becomes in my mind a boom. Booming channel action is very bullish. The conservative approach is to take profits on the tag. The aggressive approach is to see if it booms first or shows weakness. If you like wave counting, then you'll look for more impulses out of this one cuz I don't think it's done. Looks like it's in either a 1 or 3 up of 5. I'd be holding the whole lot with green hope and a stop to lock something in. But I'm bullish at the moment Good luck, and again, nice pick and I'd welcome any more of those over in my thread!

[Adam]

Even a blind squirrel finds a nut in the snow sometimes....LOL

Thanks for the info. The tec talk is a bit over my head chart lingo. I realy only started working with the computer about a year or two ago. Im not into the technical chart manipulation can you show me something of this situation?

[spikefader]

Even a blind squirrel finds a nut in the snow sometimes....LOL

Thanks for the info. The tec talk is a bit over my head chart lingo. I realy only started working with the computer about a year or two ago. Im not into the technical chart manipulation can you show me something of this situation?

lol blind squirrel! good one.





Sure thing dude; I'll post a chart over in my thread.

[billyjoe]

Alert : BEL hits highest price in 5 months, Spike remains a genius !

billyjoe

[sisterwin2]

well I am hoping for more then what I see..... are we looking at the "pick of the yr" as MM as suggested?

[Thomrich]

Greetings,

I attempted to get in at 3.13 today figuring I was a shoe in,came back at the close,no fill and price 3.29.

Ive decide to use my distribution payments from Canroys to buy these type of plays this year.

Second city capital is now a 8% owmer of BEL stock.If my theory is correct BEL is in for a nice ride with soil treatment from hurricane contaminated gulf area.Im gonna hit support on monday,this looks juicy.

cordially Tom

[Karel]

I am really smiling a bit again because of BEL. End of September there was some positive talk on the Yahoo BEL forum, I checked the big holders, thought "what do they know that I don't know", and doubled down at around 2.80. Subsequently the stock dropped to the 2.50's, and then came November 2nd

Regards,

Karel

[Runner]

Spike you da-man on dis one!!!

[billyjoe]

Spike,
Disaster narrowly averted. It looked as if I'd be forced into selling BEL at open today due to a discrepancy in my on line IRA account which appeared that I bought stock Friday with funds that didn't exist, luckily my figures were correct, nothing was sold and BEL is now up 17% for me. Line up those waste trucks and continue dumping until I say "when".

billyjoe

[spikefader]

Well well well......or should I say BEL BEL BEL Thanks runner it's workin' out nicely ain't it! So there's the volume coming in now. Breakout, money flow green, impulsive 3 of 5. Glad that worked out all right for ya billyjoe. There will be plenty of setups for this one over the months ahead I suspect. Anyone wanting in now, I continue to press the 'stalking' technique. Wait in ambush and jump on it. I'd suggest the 4 impulse completion or the 'a' or 'c' correction entries, or a nice channel long day. Find the r/r setups that put the numbers on your side and then jump on. Don't go chasing this 3rd up cuz the timing is wrong now. Longs hold and interested buyers stalk. I'll post the next good r/r I see if that's helpful.

[Adam]

I'm not happy missin out on BEL. It never wavered to my buy point like I hoped. Environmental Waste Management is what I do. As you know spike, I hate it but if it makes you money it makes you money!!!!

[Runner]

I'm not happy missin out on BEL. It never wavered to my buy point like I hoped. Environmental Waste Management is what I do. As you know spike, I hate it but if it makes you money it makes you money!!!!

you ain't missed it!!