Hot Pick Of The Day

[IIC]

Scratch that...I didn't realize that Ski posted a WEEKLY chart...Sorry...Doug(IIC)

Ninner...I corrected my post w/ a later post...see above

But I have a question for you...

Your quote: "You just dont know when the upside volume will take a stock higher.....the point of least resistance is a lesson to you my friend"

Doesn't UPSIDE VOLUME always take a stock higher???...IIC

[Gwhiz]

Ski racer,
I do invest my hard earned cash.

[ninner]

Ninner...I corrected my post w/ a later post...see above

But I have a question for you...

Your quote: "You just dont know when the upside volume will take a stock higher.....the point of least resistance is a lesson to you my friend"

Doesn't UPSIDE VOLUME always take a stock higher???...IIC

yah i guess it does however, if there is churning....it may not move very much and then that wouldnt be the point of least resistance .....that would be down.


all the best

[New-born baby]

Peix

How about a PEIX chart to see where we are at with it today?

Here's a daily chart and you'll be able to see the support/resistance lines very easily. Yesterday's bull move brought PEIX right up against very strong resistance. The bull move was strong, too, in that it actually was a gap higher. If you are a shorter, here is the good entry to short PEIX again. You'd put a stop above your entry because PEIX may bust that resistance and move higher. And look at that Green Resistance line at $19.83. That's going to be pretty strong resistance. SO my plan would be: I would short PEIX here at $14.94 and put a stop above it at $15.20. IF PEIX busts out above $15.20, you take her long for a week or two. IMO this is just an emotional reaction to news, a mob-type frenzy that will last about four to seven trading days. This stock is a pretty emotion filled stock. Look at those highs: $47, and she hasn't even produced the first gallon of ethanol yet.

Because the stock gapped up yesterday, I look for PEIX to take out the resistance line. Lots of emotion here to contend with.

HERE is the link that tells you what sparked the emotional reaction to push the price on PEIX higher. They are going to start production on OCT 17.

[Gwhiz]

PEIX seems to be finding resistance around 15.40, is it possible that this could be the resistance point, instead of 15.20? I guess i'm just asking how elastic resistance points can be.

[New-born baby]

PEIX seems to be finding resistance around 15.40, is it possible that this could be the resistance point, instead of 15.20? I guess i'm just asking how elastic resistance points can be.

Resistance points can be somewhat elastic.

[skiracer]

Resistance points can be somewhat elastic.

I never heard of resistance points being elastic or being able to stretch or give. They are what they are. A line that is either broken or not. A moving average or trendline is a line that the price pushes up against and is stopped or it breaches it. Any line between two points is either broken or not but it doesn't stretch.
I would like to hear how it can be elastic or stretch. Not trying to give you a hard time but just curious.

[Gwhiz]

I dont know how valid this is, but I have read about "resistance zones", in other words general areas where a stock tends to either get shot down or surpass that level. Peix seems to have done that today, going just a bit higher than previous resistence before dropping, but tommorow may prove me wrong.
Here is an article:

http://www.investopedia.com/articles/technical/02/060402.asp

[mrmarket]

I dont know how valid this is, but I have read about "resistance zones", in other words general areas where a stock tends to either get shot down or surpass that level. Peix seems to have done that today, going just a bit higher than previous resistence before dropping, but tommorow may prove me wrong.
Here is an article:
http://www.investopedia.com/articles.../02/060402.asp

I see you go to Princeton High School...do you know Steven Barsamian?

[Gwhiz]

Yea, he was in my chem 1 class last year, I stopped by your house to play basketball with him once or twice.
He showed me your 81 consecutive trades of 15 % or more in a row this spring, thats how I found this forum.
I actually live a block up the street from you on Prospect.

My name is Morgan Martindell.

[skiracer]

I dont know how valid this is, but I have read about "resistance zones", in other words general areas where a stock tends to either get shot down or surpass that level. Peix seems to have done that today, going just a bit higher than previous resistence before dropping, but tommorow may prove me wrong.
Here is an article:
http://www.investopedia.com/articles.../02/060402.asp

This definition seems to be valid but I don't buy into it as it is hard enough to deliniate specific lines of resistance and support when interpreting a chart to make an entry and to have to consider wider "zones" around those specific lines. But to each his own.

[New-born baby]

I never heard of resistance points being elastic or being able to stretch or give. They are what they are. A line that is either broken or not. A moving average or trendline is a line that the price pushes up against and is stopped or it breaches it. Any line between two points is either broken or not but it doesn't stretch.
I would like to hear how it can be elastic or stretch. Not trying to give you a hard time but just curious.

Some of the Daytrading services recognize resistance areas. They say "it isn't just a set price, but a dime or so each side of that price."

[New-born baby]

Let's look at 'em

Okay! So nice to have a fresh data dump, and the charts look promising.
Here's FMD:
Working on a three yr cup . . . nice, nice chart. But with all potential cups the question is this: Is the chart making a cup or a double top? That's why Wm. O'Neill tells you to wait for the breakout on volume to buy.

[Runner]

Here is my easy way to define S/R lines....Remember I need it simple, but I think a picture is worth its weight in gold....

[New-born baby]

Mtex

Another chart with HUGE potential. Of course it sets right on the edge right now, but if she busts out . . . HUGE EXPLOSION higher. Nice chart