SGI looks like it could be topping out at a prior high. It has a large gap up at lower levels that still needs to be back filled. Earnings should come out in early may and in my opinion will not support the current price.
SO, today we find that support in the $5.75 area has become overhead resistance and must look back to 2009 to find the prior low of $3.42. Looking at the SGI call and put options for all strikes and dates shows a market that is devoid of any trades which IMO signals a total lack of interest.
There is no news or events that could propel SGI higher and therefore it is my opinion SGI is headed down to test the $3.50 area.
Also, once it drops below $5 many funds will sell as they usually have a minimum price threshold for stocks that they hold.
After reviewing the future call buying activity; it appears that there are almost no buyers. This is a real good indication that any interest in SGI may have dried up and the stock will languish. Call option sellers have every incentive to keep the SGI price at this level or lower; which would keep the call options they sold, worthless.
Thank you, may the profit god smile on you.
I have traded SGI a number of times and have done quite well. I started trading in 1972 using profits to buy real estate. I do a lot of option trading.
Thank you for giving me your kind instructions as to how you calculate your support level.
I have been an active tader since 1966 and feel comfortable with my own calculations.
May you enjoy the day as it unfolds...
So, SGI has now slipped below the 200 and 50 week moving average. That is not good! My target of $6 to $7 is looking like it will be fulfilled soon.
Well it looks like SGI has had a triple bottom breakdown and is headed to $6.
PUT THE TWO TOGETHER FOR COMPLETE CHART
Sorry to burst your bubble; I am not short. I don't expect my message to effect anyone. Like I said; I will wait for $10 and then consider buying. I do not like what I see at $10 and believe SGI will drift down to $6 / $7. That is just my opinion. You don't see me making repeated negative comments; now do you.
Well Shorti, in your recent message you said you may wait for $10 to do some buying ... now you think if you say it may go to $7-$6 your little message will have an effect on people ? No Chance ! and tomorrow morning I will buy what is clearly a bargain price with the rest of my cash ..and go to sleep like a baby. keep dreaming pal , but you better cover ...back to $15 in not so long time....read the transcipt