As a few folks mentioned here, that fake news bear raid resulted in all the shorts hard work being disassembled. All those firmly negative indicators they worked so hard for, started to level off and/or become slightly positive.
I bought long for earnings that day. It then showed up as a moderate buy for Friday in my system, and with MCLIM agreeing it looked like basing was ending, I bought more.
As of the end of day Friday, that nice little rally in QCOR now popped it up in my system with a top rated BUY signal for Monday (10 out of 10).
Typically, my top rated buy signals result in about a 10 to 12% gain over the next 2 weeks of trading, but can take 2 to 3 days to take off. In QCOR's case, charting indicates it should simply continue on Monday, but I still stick to my 2 to 3 days rule. So don't be scared out if it consolidates a little.
Anyhoo, just thought I'd share... even if I didn't buy the last 2 days, it's a screaming buy now so I would be buying on Monday. I might just add a bit...
This got bumped to the top, so I figured I'd update it quickly.
That screaming buy got it's 10 to 12% and while I'm used to seeing my technical indicators break down after that (sell), QCOR actually had another screaming buy signal last Thursday, and then ran 10% again on Friday.
The nice thing about the last 2 trading days is that even with the pullback from the highs Friday, there is no sell signal at all. It's a continuation signal.
That was a lot of hard work by the shorts (63% short ratio on very high volume) that resulted in zero change for my technical indicators.
If it's any indication how scared they are, I'm absolutely convinced that huge call volume on $28 that occurred during a 5 minute rally early last week, was the shorts having a backstop in case of a huge run up.
Can they continue to play some games now? Sure... but those short term short traders that pop up here are playing with fire, they know it, but they have an emotional attachment that won't allow them to admit it to the rest of their brain.
So this week I will again welcome their attempts, as they seem to be a part of the catalyst that moves us higher. Folk who are accumulating are using their little attempts to pick up the stock cheaper. Don't believe their claims here that they made money shorting at 30. I mean, I'm sure they did, it's at 28.5 now, but they lost massively last week and that small gain doesn't even come close to break even.
Sad that they don't know how to follow the new types of technical analysis needed. The kind that broke the old ones 5 years ago, and no one has published the new ones yet. Give it 10 years, after folks make millions, and you'll see books on the shelves, a little late to continue making millions.
Have fun shorts!
Nutin gainst old wierd Al, but these are some lyrics I can rock to. Dust off the old bong and be on the other side.... whooo, 1982 on a beach in the hamptons but I might as well have been at whiskey a go go '67....we will save "this is the end my only friend" for the trapped shorts
Sentiment: Strong Buy
Okay, hit the $30 in 11 days, now QCOR could steadily rise into earnings, I suspect by Friday $31-$32. Could be more. Battle at $30 Shorts and Long against new stupid retail shorts.
Sentiment: Strong Buy
I don't pay attention to R1 resistance points on my screaming buys, except as a place where it may stall for 2 to 3 days during those 2 weeks. At a glance 27.70 is R1, and 29.50 is R2. Didn't do the calculations but I bet if you check sites that post these, they'd be around there.
R2 happens to be just above my 10 to 12% target gain, so that might be more important than usual right now.
This buy call is probably pretty obvious to most folks as I really don't need to run it through my system to see a TTMSQ, the MACD, Fast Sto, CCI starting to turn, etc. I wrote my system to find stocks that aren't so obvious though and the obvious ones obviously pop up on it too.
The nice thing is it is an early detection system, so a lot of swing traders would have been waiting for a close above 27 as a BO buy signal. Depends on which system they use. It got me in over a buck lower than here.
Watch 25.97, as a close below it signals a 'sell if' for the next days opening 45 minutes. If it can't get above that the next morning, then the buy signal was false.
Cheers and GLTA this week...