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—Rob -
CTC Media (CTCM)
CTCM (IPO'd yesterday) gained another 7.06% today on volume of 903,320. I was just checking out their prospectus on the SEC Web site, and their numbers are actually looking pretty good.
—RobComment
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Ctcm
CTC Media's 3rd day of trading. For an IPO, it seems to have held up reasonably well in an awful market day.
—RobComment
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Most IPO's are price-supported by the selling group for 30 days after the initial issue date.Comment
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IPOs
That's the first time I've ever heard that. Just out of curiosity I took a look at a couple other recent IPOs ...Originally posted by DSteckler
—RobComment
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GOOG: Symmetrical Triangle
—RobComment
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It might be bullish
the GOOG chart is still in flux....With the markets in turmoil, and likely to stay that way into late June, trade GOOG if you can but don't marry it.Comment
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Symmetrical Triangles are not bullish
Rob,
Symmetrical triangles are not bullish; they are neutral UNTIL a direction is indicated by a breakout in either direction.
Should GOOG bust the lower trendline--hey, you are talking a very bloody play here--a fall of $175-$200 down to the $175 marker, or even lower! Yeah, I believe that can and will happen myself. Bullish? Not even close . . . . But remember: GooG has to bust one of those trendlines to indicate which way she'll run. If I am wrong and GooG busts the upper trendline, then add $200 to wherever she busts out. But myself, I don't see that happening. You F/A guys can count the beans a lot better than I can, but I read somewhere that GooG profits are flat. Maybe some guy named Rob posted a chart on it somewhere
The PnF likes GooG to $432. In fact yesterday's action was a double top breakout, and looks bullish to there. Still, when I draw the MoMo trendlines, it is obvious that GooG has busted the uptrend. She is simply trending sideways in a symmetrical triangle formation like your chart shows. The big move is yet to come. My gut--with all 11 herbs and spices--insists that the move is South.Comment
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Sales and Earnings Put the OO in GOOG
Thanks, guys.
New-born, according to this page on stockcharts.com, "Edwards and Magee," whoever they are (I'm guessing venerated T/A gurus), "suggest that roughly 75% of symmetrical triangles are continuation patterns and the rest mark reversals." Now, though they add later, "even so, we should not anticipate the direction of the breakout, but rather wait for it to happen," when I examine the incredible growth of this company's sales and earnings, I have to say the chances of its breaking to the upside are greater than 75%.
Obviously there are no guarantees in life, but I think GOOG is strong and getting stronger.
Add'l observations welcome.—RobComment
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Originally posted by Rob
Edwards and Magee: who they are.
You ever heard of "Fibber Magee and Molly?" Molly's maiden name was Edwards. Certainly they were 'venerated,' but not for their chart reading abilities.
On the serious side, I'd say I agree with their assessment about 75%/25% being "continuation/reversal" patterns. I also agree that we need to wait for the breakout to get a clear direction.Comment
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Imcl
Rob, I'm looking at IMCL's July 35 in the money calls. I like the premium and since I'm really about as much asset preservation as I can, I may write those calls. I stand by the 6 -month solid support of 35.Comment
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Trader Jack
Jack, the way management seems to be soft-pedaling the positive results of the trials presented at ASCO, you just may make something with those calls. However, please do not be offended if I tell you it is my sincere desire that anyone writing July 35 calls will soon be sent scrambling to buy them back.—RobComment
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Rob, if my shares get called away, I still pocket a nice monthly premium, and if IMCL is below 35 by July expiration, it's an excellent accumulate!!!Originally posted by RobComment
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Parl ...
—RobComment
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ELOS Doing Well Today
What say you, anybody? Is it time to buy ELOS yet?
—RobComment
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