Quick look back at last 2 wks action:
Jul 25 high $3.18 Posts: Running into earnings. Russell add is driver. Profit takers have lost cajones. Price action down 23%
Jul 29 low $2.48 Posts: Shorts in control. Never should have gotten above $2.00.
Price action up 15%
Aug 1 high $2.85 Posts: Stair step action is good. Russell is driving. Buy for double
Price action down 8%
Aug 6 low so far $2.63 ??????
Not intending to poke fun but rather point out this stock is a bit directionless now. Watching for opportunity to trade but feels like we're in no man's land here.
I got my limit order filled today at $2.50 for the 25,000 shares. This adds to my other shares I have in this company. I was concerned that my limit order would not get filled at the $2.50 level but it did. Now it can fly to the double digit level which, in my opinion, will be reached in the next couple of years. Other investors who are knowledgeable about this company also believe that this stock has a high potantial. What is needed now are new large contract announcements. Even without new orders, the second half of this year should show better results than the first half. This trend has occurred in the past severall years. Thanks Marty for all the information you provide on this board. Keep up the good work!
S&P struggled all day with the 50 day level. Once it was clear this resistance would hold, TCS sold back off. Keep an eye on it. Likely fine given your long term perspsective, but still could test $2.40 if market sells off in the next couple of days.
Good luck with buy. So far stock is trading well. Dropped down to support at $2.48. As it did the typical "shorts in control" start their rants. The stock bounced off support and now up about 2%. Right now the overall market is reacting to the 10yr so watch the TNX index. It is down today and S&P is up. I'm not smart enough to say what will happen but I think the recent rise in interest rates is premature given Fed comments indicating they don't see fed rate increasing until 2015ish. Unless the overall market breaks into correction territory, it sure looks like traders are buying at that support level.
Amazingly the counter indicator seems to be holding. Last night our newest bear shows up dealing meth. today the stock is up 5% in down market. Hard to figure but certainly doesn't appear like the stock wants to test the support. chart is pretty bullish right now, but I'm not chasing. Will likely sell some more if we get close to $3
Marty; The day after the conference call, I put in mymy order in for 25,000 shares at $2.50. The day before the conference call, I sold these shares for $3.19. I am thinking about raising my order to a $2.60 price even though $2.50 seems to be a level that may need to be tested. Any thoughts?.
I think you're definitely smoking meth, because you can't afford crack.
Read your post again and explain how that could possibly be true. Hint: IT CAN'T BE TRUE!
You can't sell shares before the CC that you bought AFTER the CC unless you were short.
Sentiment: Strong Sell
Nice trading. I'm not comfortable giving trading advice given how often I'm wrong. Here is what i see and how I'm hoping it will play out....
I think another test of the lows is both likely and health for the stock. The $2.40 level was resistance in the Mar-13 time frame as well as in Jun-13. In Jul-13, it broke through and had a very nice rally. On Jul 26th when the sell off occurred, the stock dropped to the $2.40 price an immediately bounced. To me that is a fairly strong support level. The 50 day MA was also touched and held on Jul 29th so that may also be support.
Personally I'm looking for one of these support levels to get tested and see how it acts. If it bounces again, especially in a red tape market, I'll be buying at either of these levels. Likely more if it bounces off of $2.40. I probably won't be tempted by $2.60 because the basing action will be more healthy if it tests support before rallying.
Good luck with whatever you decide. At some point whether next week or in six months, the company will likely announce some significant new order on one of the contract vehicles and at that point the news will take over as the catalyst. If that happens, I'll likely be a buyer and ignore the chart .