At the open, it gapped up to $4.27/4.28 ~ with a day low of $4.22 and closing
on the day high of $4.41. A $.10 gap up on a $4 stock is significant.
2bc88, et al
My intra day trade activated at $4.27 ~ long at that level with a stop at 4.03.
Damn, I wish it had not gapped up on the open as much ~ as the benchmark
buy level was 4.21 on close as posted yesterday. MACD crossed over but I
know we are still below 2bc's Slow Stoch of 20.0 (15.98 @ close).
G/L to all traders ... and even G/L to all you fundamental guys - or as you are
known to tech traders ~ 'funnymentalists'.
2bc88, et al --
On my system, the intra-day trade mode signal is ON for trading tomorrow. BUY on a close at $4.21 or above
with a stop at $4.03. This is the first BUY signal since 9/24 (at $5.44 with a stop at 5.30.)
Just letting you know since we have established a collaborative exchange of tech trading ideas.
augustus, it's me rlo, not 2bc. Nice trade @ $4. 00.
The previous short signal was at $5.29, with a stop at $5.47 -- a lot of room to go to get there.
harry, if you think this is going to V bottom and bounce straight to $4.73 then hey, whatever blows your hair back man. This isn't about pennies, it's about where to make a calculated long entry with an appropriate stop. Could it V bottom and bounce up $1.00 of the low?
Sure, but with so many trapped longs at much higher prices the supply on any up move would be significant. You're going to have to wade through a lot of overhang to sustain a short term move up..
I'm a little surprised with today's price action. Tip of the hat to
2bc88 for a nice intra-day trade. augustus, did you trade PGH
2bc88 - Are you enjoying this minor little pullback? lol
No change in my indicators for a long entry.
Last signal was short at $5.29 with a stop at 5.47 -- did not
trade this signal -- ugh!
Let's see if support level at $4.50 on the longer term (3 year chart) holds as mentioned on 10/5. Way overdue for some kind of bounce -- RSI at 13.13 -- that RSI number has to be lucky, right?
Agree -- so much supply (overhang) of trapped longs that any bounce will be met with
heavy selling. Did not know that you only trade PGH in your IRA. I'll keep that in mind as
the system I use throws off intra-day and on-close short term buy, sell and short signals.
And as you know, PGH is not making any V bottom. You'll get a retest of whatever low this
eventually makes. G/L
2BC88, et al.
The move up to $4.94 in early trading was met with an immediate barrage
of trapped long(s) selling in to the strength. This is why if you take a shot on
the long side here you damn near have to be (intra)day trading to capture
any gain. There is just so much selling supply (overhang). I thought we might
have a potential trend reversal Doji 'stick today -- but no change in short signal
at the close. G/L
With the oversold levels this extreme, (RSI, Williams%), you would think a bounce would be imminent. I don't know if the Fibonacci retrace to 61.8% is stronger than the the support level at 4.5, (look at the 3 year chart).
There are so many longs trapped at higher levels that the overhang of sellers on any bounce will be significant. If you take a shot on the long side here, be nimble with a tight stop.
2BC88 -- Sounds good to me.
The PGH slow stochastic (SS) reading that I am getting is different than
the numerical one you have been referencing in your posts. My chart has
an SS reading as of Friday's close of ... %K (14,3) 11.60 and %D (3) 9.71.
Are you using a different duration parameter?
I'm kicking myself for not acting on that 9/30 (5.29) short signal ... but man, it takes some balls to short a stock as badly oversold as PGH was/is. Who would have thought at that short (5.29) level you would be sitting on a 10% gain in a few days?
That 's the great thing about tech trading though, it removes the thinking/emotion ... and it
looks like I out-thought myself on this one not acting on that signal. G/L
A thought for the weekend ... maybe ease up on the fundamental long guys who are in a
lot of pain on this stock. From their comments, they all seem like good guys and taunting
them ... well, maybe take it a little easy on them because always remember,
"there are no virgins in investing ... we've all been raped".
OK - maybe if we stop hurling insults at each other we can share technical trading metrics.
The current PGH signal I have is short on 9/30 at $5.29 with a stop at 5.47. As I posted
earlier -- I am not short and did not follow this signal on 9/30.
Can't bring myself to short stocks with RSI's under 20. I will update as
price action dictates. Intra-day trading mode on PGH is OFF -- meaning no trading action
in this stock tomorrow.
I will update as price action warrants. G/L
I previously posted that I was stopped on this trade at $5.26.
Remember dumazz, keep tight stops to avoid catastrophic losses.
Even a genius like you that bought at $6.83 and continued buying in the
mid-6's - then rode the trade(s) all the way down to $6.00 would or should
now to keep your losses small and know your exit BEFORE you take a long
RSI at 19.86 - deeply oversold. I was stopped out of my long ($5.44) @ 5.26. Candlestick pattern(s)
indicate a short of PGH @ 5.29 with a stop at 5.47. I did not trade this short signal.