Jiesen tries to take over the world

[spikefader]

Spike,
BHMC fell pretty hard today. Made all my calls look very nice. I hope BillyJoe is okay.

I have been out of the office all this week. Can only check in at nights. But I have this bit of news if anyone is thinking GM short: Dr. K wants to buy another large stake in the company, and get a seat on the board. Seems the SEC is going to okay the manuever. Might make a short pretty uncomfortable. Might make a long a nice move (collect the divy and the capital gains). I haven't been able to follow the posts so I am just posting. Sorry if I am being redundant to another's post.

Best to ya!

Yes it did. And today too. Warning Will Robinson was 100% right! Once it lost 85.99 it was destined for disaster. It didn't even blink at the gap support and fell straight through it without much volume support at all.
The double top was sitting there, the failed bull flag, and the last two days are pure cream for your calls. Approaching support, so might be a good time to think about taking profits. Bid S2 or S1 prices and wait for the fill to maximize your profit, and if you're really bearish on her, sell more at the top of any 4 correction she makes.

Great trade on that NB, very nice indeed. Thnx for the tip on GM.

[jiesen]

bought a small (<1%) position in IDWS today at .36. They're supposed to be announcing a minimum 0.37 dividend today.

sold out of IDWS today at 0.47 for about a 30% gain (in 1 day). They raised the dividend amount to 0.87 or more today (instead of actually declaring it). Great, I'll take the profit now, and not bother to find out whether they're actually going to pay this or not. If it goes up another 30% from here I just might catch Spike in the POTW! Wouldn't put real money on that happening though...

[New-born baby]

Bhmc

Spike,
BHMC fell pretty hard today. Made all my calls look very nice. I hope BillyJoe is okay.

I have been out of the office all this week. Can only check in at nights. But I have this bit of news if anyone is thinking GM short: Dr. K wants to buy another large stake in the company, and get a seat on the board. Seems the SEC is going to okay the manuever. Might make a short pretty uncomfortable. Might make a long a nice move (collect the divy and the capital gains). I haven't been able to follow the posts so I am just posting. Sorry if I am being redundant to another's post.

Best to ya!

[billyjoe]

Jiesen,
In the words of my grammaw "I never heard tell of such a thing"


billyjoe

[jiesen]

bought IDWS.PK

bought a small (<1%) position in IDWS today at .36. They're supposed to be announcing a minimum 0.37 dividend today.

[spikefader]

...right now, with that tweezer in place, and the weekly long, it IS bullish, and I think your bearish view is in trouble

OK, the tweezer has been taken out, so I'm on board with your bearish view NB!

[Lyehopper]

tis what it tis....

Sure I'm dogmatic. I'm a preacher. FRGB is just another example of how a daily and weekly chart disagree. No channel long touch on the daily. Money flow is awful. "It is what it is until it ain't."

I'm watching and learning....

[New-born baby]

Yup

LOL, well no-one can accuse you of being without conviction . But what IS it really? A weelky ALWAYS trumps a daily NB. Don't you think? You are basing your analysis on price action for only 2 months, and yep, short term it's been bearish. But fast short-term action into long-term heavy support (with such a great looking weekly chart, including money flow) down to great vol by price on both charts can't be ignored.

I think with this one, your read can't see the trees for the forest - heh, but hey!; from small things come grand creations. But right now, with that tweezer in place, and the weekly long, it IS bullish, and I think your bearish view is in trouble

Yes, Spike, my read may very well be in trouble. Charts aren't 100% accurate, and somebody like me makes them even less effective.

I am not quite ready to quit on this one for this reason: remember a few days ago, oil broke the neck on s~h~s formation? You posted that she'd fall to $58, perhaps $50. That very day she bounced back up above the neck. Then yesterday she fell through the neck again, and I do think oil will hit your targets. So what I am saying is this: today, everybody is up (save BMHC ), and FRGB is in with the crowd. But we'll see what happens next week. I am thinking bearish thoughts on her. But hopefully she'll take out MMs target first.

If the weekly trumps the daily, (always, no less!), then DELL and WMT are definite shorts. WMT weekly (from 1999) calls for $20- bottom. Sam is dead and gone, and the chain is suffering from a lack of his leadership.

Thank you for the counterpoint. I'll certainly be instructed by what happens.

[spikefader]

Sure I'm dogmatic. I'm a preacher. FRGB is just another example of how a daily and weekly chart disagree. No channel long touch on the daily. Money flow is awful. "It is what it is until it ain't."

LOL, well no-one can accuse you of being without conviction . But what IS it really? A weelky ALWAYS trumps a daily NB. Don't you think? You are basing your analysis on price action for only 2 months, and yep, short term it's been bearish. But fast short-term action into long-term heavy support (with such a great looking weekly chart, including money flow) down to great vol by price on both charts can't be ignored.

I think with this one, your read can't see the trees for the forest - heh, but hey!; from small things come grand creations. But right now, with that tweezer in place, and the weekly long, it IS bullish, and I think your bearish view is in trouble

[New-born baby]

Dogmatic

Sure I'm dogmatic. I'm a preacher. FRGB is just another example of how a daily and weekly chart disagree. No channel long touch on the daily. Money flow is awful. "It is what it is until it ain't."

[spikefader]

NBB,

I think you've practically called the bottom there at 71.99. Your crystal ball may need some adjustment!

heh, ya, NB, forgot all about the tweezer bottom. That one was only a penny off NB, and is a better example of one NB (as per our other converstion about tweezers).

But as to crystal ball, that's funny. And this is an example of why saying a stock WILL do this or that, and taking a rigid stance like NB does, can come back and make one look silly, but that's alright Gives us something to kid each other about.

But as far as my view, I see the major weekly channel long coincided with that tweezer double bottom, and that's as good a setup as you need to see to get firey bullish until yesterday's low breaks. So I'm firey bullish on it.

Great observations Lyehopper. A lot of people do 'believe' fibs and I'm one of 'em. They really are a fascinating phenomena. But it's not so much believing it, as merely playing one particular setup in the world of TA.

[New-born baby]

You might be right.

NBB,

I think you've practically called the bottom there at 71.99. Your crystal ball may need some adjustment!

You could very well be correct. If FRGB would close right now, she formed a tweezer bottom, a bullish reversal signal. Volume is low, but higher than normal for this stock.

Still, I am not bullish on her right now. I could very well be completely wrong, but I am not yet convinced I am.

Best to you, Jiesen!

[jiesen]

FRGB is up some at 10:06 EST. Last sale was $72.97. So the market maker moved the ask up to $73.97. That figure marks the neckline. What should happen is that $74. is touched and rejected.

NBB,

I think you've practically called the bottom there at 71.99. Your crystal ball may need some adjustment!

[New-born baby]

Today's action

FRGB is up some at 10:06 EST. Last sale was $72.97. So the market maker moved the ask up to $73.97. That figure marks the neckline. What should happen is that $74. is touched and rejected.

[New-born baby]

Sure it is

I posted this on the FRGB thread....

http://img397.imageshack.us/img397/3269/frgb3rd.png

I realize my TA is not up to "Spike" standards but I think a quick 61.8% retracement of a fundamentally sound stock is worth noting.

Sure it is. Now the question: is that the only indicator you want to jump in?
You could look for an intraday pattern too. But let's check the chart out to see what else we might find:



I wish you the very best. I am too scared to buy this one.