"Tryouts" for the March Madness Data Dump

[RL]

MY DART THROW

The dart hit ESMC. Only I posted on the wrong thread. Thats why I use a dart when picking stocks Ernie this Is a great Idea and should be lots of fun.

[mrmarket]

Tryouts are closed...the dump is ready to be posted!

[mrmarket]

The results are in:

ESMC (made the Top 5!!
IMGG.OB #6
GORX #8
NFI #21
AUO #22
FCFS #24
NCEN # 29
ARO #43
MTH #48
AH #70
SAY #78
ZQK #90


Nice picks gang!! Top 5 to be posted tomorrow....we know ESMC is one of them!

[ParkTwain]

ESMC - price vs 50DMA

You might have noticed that ESMC is 100% above its 50DMA line. There is no way anyone could recommend buying a stock in that situation unless you have your finger perpetually on the SELL button for the foreseeable future. It doesn't matter what its fundamentals are! BEWARE!

[Mi6op]

Re: ESMC - price vs 50DMA

You might have noticed that ESMC is 100% above its 50DMA line. There is no way anyone could recommend buying a stock in that situation unless you have your finger perpetually on the SELL button for the foreseeable future. It doesn't matter what its fundamentals are! BEWARE!

So you are saying if a stock is way over the 50DMA then it is effectively overbought and it should be a matter of time before a correction. What is the cut off you think of a percentage of the 50DMA?

[ParkTwain]

Bottle Rockets

A chart like that one is referred to as a "bottle rocket." In my experience, a stock 33% to 50% above its 50 DMA should be bought only with caution. Beyond that, you're looking at a stock that is probably going to correct in short order. A trajectory like a bottle rocket's.

Of course there is an exception if there is some kind of extraordinary news that leads the market to believe that the situation for the company has completely changed, such as "striking gold in the backyard," so to speak.

There is such a thing as a "flag" formation in a stock's chart -- where the price jumps up radically then slowly decays back down some minor portion of the gain. It is yet to be seen whether ESMC is in that position. A flag formation indicates that the market has found some new information about the company's prospects and has pushed the stock price radically upward for that reason. A flag is usually a one-day or so major jump that turns out to be sustainable.