Support level is between 0.85 and 0.90. Chart is completing a fairly quick head-and-shoulders top, with falling volume peeks at left shoulder, so expect it to fall back at least to that support level. Hard for it to move up without any positive earnings for a quarter or more, except on a buy out. Annual Revenues, which are 120 million for this company, would mean a buyout at current price would be around 9 X annual revenues… which is sorta steep.
Chart of MONIF-- had a major reversal top at around 1.35; now working on left shoulder of a head and shoulders top, with volume confirmation. has over a BILLION shares outstanding!! Stock needs pumping to deal with the selling. JMHO as a chart reader.
So all day until around 10 minutes ago, total volume was around 26K shares and price kept around 0.795 to 0.80. In the last 10 minutes, only 4,000 more shares sold, day's volume total now 30,800, and price is up to .845 where last sale was. So price popped up 5% on 4,00 shares. Seems to me the sellers have dried up at these ridiculously low prices,and the bottom pattern is evolving fairly symmetrically. I count about another 12 days or so of backing and moving sideways, with slightly increased volatility, maybe even another retest of the .77 to .79 support level, until bottom symmetry is completed, and then I anticipate a move back up to the . 1.00 to 1.05 range. Just from a technical viewpoint. No fundamental statement is being made.
Sentiment: Strong Buy
Agreed, Nickycruz, the tax loss selling is probably done for the day, as the poor traders who don't know what investing is, used IMSC for tax selling…. So we had diarrhea of the weak holders!! I was actually surprised to see this trading under $1.00 in the last month…, and so used the opportunity to back up the truck, and double up my holdings…Thanks to you guys who sold me shares for as little at 0.79!! A positive finish will make these people who are afraid of having debt, start to rationalize about why they sold it, when the story is just starting.
Sentiment: Strong Buy
So does anyone know when all these technical "awards" will get converted into contract "awards"? What are the prospects for this company? Time line? Pie-in-the-sky? Some other terrestrial contracts to keep the company going? Does anyone come to work every day and turn the lights on in the office?
Well, if someone had a BUY order in at a LIMIT price 50 cents less than prior trade, , and someone else put a MARKET order in to sell, and there were no other BUY orders at the moment, that would probably do it. Can you explain what the alleged manipulation would be and what the concern is, other the someone placing a market order on a stock that wasn't very active at the moment? ?
So the president of the corp last quarter purchased quite a bit of Inergy shares, listed as "Indirect". Anyone know who was the real recipient of the shares? IS this a family member or trust situation, or was he buying shares to cover being short?
Dec 13, 2011 GAUTREAUX WILLIAM C
Officer 20,000 Indirect Purchase at $22.81 per share. $456,200
Dec 7, 2011 GAUTREAUX WILLIAM C
Officer 10,000 Indirect Purchase at $23.65 per share. $236,500
Nov 23, 2011 GAUTREAUX WILLIAM C
Officer 25,000 Indirect Purchase at $23.64 per share. $591,000
Nov 21, 2011 GAUTREAUX WILLIAM C
Officer 20,000 Indirect Purchase at $23.41 - $23.5 per share. $469,0002
Would anyone care to explain the difference between the shares represented by BAMXY and BAMXF? Are they both ADRs? DO they both represent the same company, or does one also represent shares in other subsidiaries? Thanks for any knowledgeable responses.
The 2-year suspension of preferred dividends should expire in April 2012. Has anyone seen any notifications or indications as to whether dividends will be resumed at that time?
Yahoo lists over 600 million shares outstanding, yet JMHLY trades average of 4000 shs per day. Can anyone explain why this occurs, and who are its holders? Are there other exchanges that show greater volumes that would refelct true interest in buying and selling of this company's shares?
Lease with Getty Petroleum Marketing. So Getty Petroleum Marketing gets new owner. Lease still in effect. A little fear and panic because new owner not named. Buying opportunity. Terms of transfer not named. Poor communication. Class action lawyers frothing at the mouth.
It did break one of two necklines, but not both. It did not break the upsloping neck line that i described in last post. There are no 100% guarantees in investing, either using fundamental or technical data, or both; and there are other inputs that can overwhelm any chart patterns. Charts do not predict the future. If the chairman of some Fruit company jumps out his penthouse window, or a corporate plane goes down with a bunch of corporate directors on it, it doesnt matter that the chart was bullish, it is bad news that can make sellers out of investors. (Both of these things, by the way, have happened, as you know, in the past). Here, the problem with options is the time constraints, so not only do you need to interpret all the data, you need to time these things as well. The chart on CMG is not well. I wouldnt go long, as an investor, today. Probably not tomorrow or next week , either, since they are so many other companies out there to invest in, that have stronger looking charts. As to whether you should have covered or not, that is certainly up to you, since i am not an investment advisor. My advice is only, to read up on charting, especially the classic texts, not the corporate verisons of them, and get a good enough sense of what this is all about, so you can feel comfortable with the decisions you make, and why you made them. To paraphrase a wellknown quote, I think one should learn enough about the market technically to know when to buy and when to sell; to learn enough about the market so you know when NOT to buy and when NOT to sell, and to be able to know when you can't know when to buy or sell, so you can turn around and walk away.
Although you state this is not "classic", in fact the volume variations do NOT negate the head and shoulders formation, with break below neckline, in this case, and the short rally above the neckline also does not invalidate the Head-and-shoulders reversal pattern, although it might reflect some slight weakness in the subseuqnet downward move. Prime Computer was a beautiful example many years ago,also of a head-and shoulders top, which was followed by a near-term move above the neckline,and even a move to near the right shoulder height, before it plummeted. For a reference to this phenomenon, see Technical Tnalysis of Stock Trends, by Edwards and Magee, 5th Edition,1966, page 58-59: "The final step--the down-side penetration of the neckline--may be attended by som eincease in activity but usually isn't at first. If volume remains small for a few days as prices drift lower, a "pull-back" move frequently ensues which brings quotations up again to the neckline level,AND RARELY THROUGH IT. Normally this is the "last gasp"; prices then turn down quickly as a rule and break away on sharply augmented turnover."
Also, despite the volume being higher at the head than the left shoulder, the volume confirmation is really supposed to be in the decreased volume of the right shoulder, which IS seen in the Head-and Shoulders-formation of CMG.(Again, same reference, Section is called 'Variations in head-and-Shoulders tops," page 56 to 57. There is no great perfection in these formations, and so to use an engineering definition of specific requirements belies the underlying reversal nature of the pattern. If a reallly good looking head and shoulders top fails, and the price then goes higher, it is STILL likely to creash and burn within a short period of time. also, if you realize there are two necklines in the head and shoulders top of CMG,the first of which is upsloped, and catches a very short right shoulder, beforre the more obvious one, you will see that the price broke first below the upsloped neckline, at around 236!! That is why the head and shoulders looks a little "funky". Anyhow, when a formation occurs with an 80% chance of marking a significant reversal lower, I would not sit around and argue about one or two technical deviations from a "pure" head-and-shoulders reversal pattern, I would just get out. (or buy puts, as i have done in this situation). Also, beware of the many simplifications in the descriptions of many of these patterns, in the last two decades, by William O'Neal and others, as they often get people to think these are "Laws" when they are in fact a reflection of people's behaviors. No head and shoulders top is identical, they all vary a little. Original source gives a much better feel for what is happening.
50 DMA at 232.35. Current real time quote is 231.24, down over 4 so far today.... So, will need to see how this stock closes to see if you are correct. Needs upside volume and strong move above prior close to have any upside strength. Otherwise, will have spent less than 1 day above the 50 DMA, and will have failed to break above resistance of the 50 DMA,after spending quite a bit of energy moving up from 217,on less than stellar volume, and thus more likely to continue completing its head-and-shoulders top and more likely to be available on sale for 185 before it sees 250 again in this current quarter. JMHTO.
From a technical viewpoint, 50 Day MA is hovering around 232. Lots of overhead ( that looks like a giant head and shoulders top). After big rally yesterday, which did not break resistance of the 50 DMA line, it appears to be "toying" with it, but still has not definitively broken its pattern to the upside. The volitility over past 2 weeks reflects the difficulty in "knowing" to where the price will move, but it definitely needs much more good news to break to the upside, then it does bad news to test the 200 DMA, now down around 180, where it has a strong possibility of going without any news.
Well, they WERE right! High for year 262; now headed for 210. They even got it in the right order!
I see 175-180 range at the 200 dma as next stop.
Stock trading at 45X earnings.Made a major head and shoulders top,and has broken thru neckline, on its way to Plummetsville. Doesn't matter whether the food is good or not, food was the same when the stock was priced at $125. Doesn't mean it is investment range now.... What matters is stock supply vs demand, and when the big guys from the mutual funds and banks notice the head and shoulders top, and then go back to their committees to discuss and decide whether to sell their shares, price will once again demonstrate the principles of Investing 101.That's of course if they know TA. Me? Bought puts, and watching their prices RISE.
Quarter will definitely not be a good one cause of all the holidays, the blizzards, the power outages. Mexican grill is not where I would be headed during a blizzard, and for the bowl games more people were headed for the local Sports Bar. Yesterday was technically awful, with a close closer the the bottom of an 8 point range.
The chart on CMG has completed a Head and Shoulders top,might be useful for a textbook example...Neckline has been broken, with small rally up to the neckline which is now resistance.. Head and Shoulders tops are 90% predictive of a long term top. Next support down at 180 level. Any tekkies on this board have any comments?
What's your take on OPLK/Oplink Communications? Similar Growth rate, similar earnings (actually higher at OPLK),to OPNT, with a gigantic cup and handle that makes a giant triangle formation; earnings growth last 4 quarters +117%, +120%, +87%, + 95% for latest quarter. Higher sales at OPLK, similar number of shares,(19M for OPLK vs. 21.5 M for OPNT), yet PE for OPNT is 42, vs only 15 for OPLK. OPNT does pay dividend + bonus special dividend, while OPLK retains all its earnings. Anyone care to explain why OPNT is selling at that PE, vs that of OPLK?