[QUOTE=billhart22;50428]It's been a while since I posted a chart on this guy, nothing has changed, it appears to be a rare, but massive reverse symmetrical triangle. Typically, the moves between the heavier dark blue lines that mark the triangle are 123 type, which is the case for all moves with the exception of april to the later part of may. That one is a little more complicated. I note a little resistance line that we almost hit today in red. I also marked the fibs, and the round numbers of 0.05, 0.10 and 0.15, which you can see where pretty solid support and resistance zones. Since none of these lines overlap, there isn't a case for one of them to be stronger than the other, such as those I marked on charts such as SIRI previously. Hopefully, the pattern will play out, and we will see it eventually hit the upper trendline. If the pattern stays true, then we will of course see ups and downs along the way. A lot of these patterns have been forming on 60 min charts of the US E-mini futures, along with some of the market leaders... but have given a wilder ride (expected for shorter time frames). I'm kind of a dummy, since I entered before the last touch of the line... if I believed my own lip smack, I would have waited until then and been up a little more at this point.
I hope this one plays out.
Last edited by Dr. Dave; 09-05-2009 at 05:57 AM.
SPNG-
Last I updated this, we had a pennant, and what I believed to be the set of waves up (green numbers). My measurement of the target for the green pennant move was 0.008 off, but oh well, lol. There appears to be possible a new pennant or flag formation in the works. So "technically", those not in could place a buy in the formation, with a stop at the double-fib .18 mark... or if there is a close below the lower orange trendline. We have some confirmation of the pattern in the volume, you want to see a decrease in volume as the pattern forms. If the stock were to break out on tuesday, we'd expect the target to actually be the old high or close to 0.28 (how's that for vague, giving a range now...). In terms of bigger waves, the blue 5, would be a larger scale 1, and the blue C, would be a larger scale 2, so lets hope we are seeing the larger scale 2 to 3 move, where the resistance at the blue 5 will be blown out of the water, and the possible pennant move high in the sky.
Disclaimer - again, it's all tea leaf reading, just cause I'm a freak that believes in the stuff somewhat doesn't mean it's gonna happen. My only DD is reading imromo's reports.
But, I like SPNG for several reasons, we can buy the stuff, we see it advertised in real places, and.... the chart is pretty clean - can't say that for some of these.
Last edited by Dr. Dave; 09-05-2009 at 05:56 AM.
I noticed the orange pole line overlaps one of the candles, it's that candle that I used for the current lower orange trendline.
Another thing to note, I added in some volume and money indicators. I cut the time frames in half, and that seems to give good signals and correlation for these pennies. Everything happens with these much faster, so I don't think using default settings is where it's at. In fact, as erratic as some of these pennies are, I hold my opinion that most indicators aren't worth much, but in the case of SPNG, the price and volume action is much smoother than most, so I think they are ok for this guy.
beep .
Sean, go to bed, isn't it 3 million am in the morning there?
Last edited by Dr. Dave; 09-05-2009 at 05:57 AM.
Update from the shrub -
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This is what I got from Scottrade.
Dear Client:
Thank you for your e-mail.
At this time Scottrade is not permitting new purchases of these securities within our accounts. We do regret any inconvenience this may cause for you. This trading restriction is due to the cost prohibitive clearing requirements of these particular companies' transfer agents.
Please let us know if we may be of further assistance.
Sincerely,
Don Simon
National Service Center
Scottrade Inc.
http://investorshub.advfn.com/boards...ge_id=41222304
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Also, buried in that list ....
CWRN LKRV
CXAC LYMGF
ENCS MAMG
ERUC MDNO
EVFL MDRG
EWRC MLCO#
FMNJ MNTY
FNXC MODR
FTAR MSRM
Walking by the boob tube a minute ago saw a huge sponsor blip for Spongetech on ESPN, ...
Some bass fishing tournament ... It's on the main podium, on a good sized sign out in the crowd ... everywhere!
I see now, apparently a repeat from June -
SPONGETECH TENNESSEE TRIUMPH PRO
http://sports.espn.go.com/outdoors/t...S_KentuckyLake
Great exposure nevertheless