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Hastings Entertainment, Inc. Message Board

  • mognj mognj Mar 21, 2012 2:53 PM Flag

    Listen and learn girlz.....Take note.....

    All you fundamental fools.....On January 25 and March 2 we hit resistance at $2.....We finally broke through.....Take note that yesterday....March 20...we dropped to $2 and bounced...Technically this is very important.....RESISTANCE becomes SUPPORT!!!!....What we now need is confirmation...meaning we need to drop back down to $2 forming a double bottom....If we bounce, then I say buy!!!!...I thought bottom might be $1.90...I was close.....This stock stinks...but short term?

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    • Looks like we are sitting on the 200MDA.

    • I am not sure about all the chart data at this point. What I do see is that we have a traffic jam; the price is too low for longs to sale, the company is buying shares, insiders are selling shares but NECA seems to buying them and the shorts want shares. The stock price should have went lower but there appears to confusion. Back to chart data we are closing in on the 200MDA(LOL)

      • 1 Reply to sidneydane
      • Wow. Very insightful. I agree. Things don't trade the way they should. I'm not saying they are manipulated, either up or down..just saying what you are - that there are some interesting dynamics.
        Longs see them as holding it down; Shorts as holding it up.

        Insider sold 25k shares yesterday (more than the average day volume) in one trade, and the price went **up**.
        Same thing happened back on 1/10 w/ a 60k block.

        When you leave out these types of transactions, volume is sooooo low. This thing could trade for $1.50 or $4.00.. completely unrelated to the fundamentals.

    • (shaking my head) You said, just a few weeks ago, that you were glad you sold at $1.85. Now you're calling $2.00 the buy price (assuming support holds). That's my problem with technical analysis. Previous sell points become buy points, and buy points become sell points. People spend so much time looking at charts and trendlines that they forget that the company they are investing in is an unprofitable member of a dying industry.

      Seriously, you're studying the chart of a company that could not turn a profit during the Christmas shopping season! It specializes in CDs and DVD rentals, while trying to deal with expensive leases; it's the next Blockbuster!

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