"But I wouldn't make projections based soley on the movements of last year. It's a totaly different market."
You make a very good point here. With the Asia markets in correction mode I would have to assume that they will drag the American markets down with it. If we drop around 75 cents I'll be adding position. Who knows whats really going to happen? Pay your money and make your bets.
We are 12 days into this move.
Volume is 200,000 in the first hour and will likely exceed average again.
There was a dip to $7.60 but it quickly moved above the trend line at $8.12. This was one of those buying opportunities.
TBSI is leading the DB stocks again.
OK, good observation.
Back in June there were negatives like SK-SD, MACD, and price below 50DMA and 200DMA. By 7/14 the first two were repaired, price broke through a down-trend, and moved up $1.73 in 17 days from the breakout. THIS move is more similar to the current 11 day move, which has the added benefit that price is above 50DMA and 200DMA. Also, the fast line of the SK-SD has moved sharply through the slow line. This is an indication of a very strong move, this time.
Of course, chart patterns are subject to interpretation, and I am just giving mine. Many folks may see it differently.
I don't expect it to go up every day, but to trend up over time. I think that $9.50 is possible on this move. If it moves faster above $8.79, with volume maybe double, then this could be a more major move.
but the reason i said that this stock could fall like a rock is because look at his previous history and how TBSI closed at 7.77 on july first and opened up the following days gaping down towards 6.50..we'll see if the streak can go to 18 days in a row..
Volume is increasing into the close and at 740,000, is above average. The support line with a slope of +$.16 would be as follows:
Next Fri. $9.24
There is minor resistance near $8.40 that should break tomorrow.
I agree with buying the dips. How to identify a dip? That is the question.
The dip today to the low of $7.96 touched an up-trend line that has been in place for 11 days now. That line has a slope of +$.16 per day. At this rate it will reach my ST target of $9.50 in about six to nine days. That is after passing a possible pivot point of $8.79.
Volume, at 635,000, will likely exceed average, again today. TBSI is the only DB shipper that is up today. At $8.34, it is up $.17. Yesterday it shot up, on increasing volume, just before 3PM.
Volatile to the upside? Isn't that a good time to buy?
I must say that i love TBSI and it is a secret to the entire stock community. Even though i love this stock, i can not say that i would purchase it at these levels. Yes, the market has been crashing and TBSI has been holding a positive ground with the major indexes down 200 pts over the past couple of days but right now TBSI is highly volatile and thus is un-attractive to me. HAD i bought this at around 6 dollars per share i would still be holding long for dear life but bc i missed that boat, i cannot enter at these levels. i hope im wrong bc i am not short this and so i can too can jump on the tain as it starts to leave towards 15 dollars per share..it will take some time to get there but i will be patitenet and wait for it rather than rolling the dice.
long term i am hold and buy the dips but short- term i'm a net seller into the rips.