SIRI Intraday Thread: Thursday April 16

[trippingthespeculatingpos]

http://www.stockpickr.com/problog/1596/


Four Must-See Charts: Tech Stocks.................................

[relmor2003]

http://quote.barchart.com/texpert.as...siri&code=BSTK

they say .45 is the resistance at this site.

I need to draw my One year chart. I dont see how its .45. I see two closes last year that shows some resistance at .42, and a failure to break past that. Im going to check this all out tonight, and post a one year chart later. This should show us if its .45 or .42. But as you saw today, .42 looked like it was resistance, and I have been saying .42 all along(as have other TA guys).
But they might get that number on another way of calculating it.

[relmor2003]

http://www.stockpickr.com/problog/1596/


Four Must-See Charts: Tech Stocks.................................

Ya, that one shows .40 - .43. There are different ways of looking at it, especially when you trade so shortly at certain points on the way down. To be safe, lets say .40-.45 might be rough, then it should ease up till around .56 cents, with a brief stop at .50 cents. That way no ones crying when it hits .43 and reverses to .40 again. LOL LOL
Id have to say these "resistance " levels on this stock are kind of joke, as you see how quickly these price ranges were trading their. Not too long at all, at any stage from $2 down to .12 cents.

[tucknroll]

anyone....i'd like to check out the sat site pararick & others went to, can someone pass on the link, thanks...

[MLSiri]

I thought today might have gapped, but it didnt. It closed at .38 yesterday, and opened today around .39 and filled down briefly for a low of .381(I wouldnt exactly call that a gap). If it stayed at .39, and didnt fill, then it would have been a shooting star, and todays candle would be called a star. A shooting star,used for a gap up only. I apologize, not what happened here. Just a very bullish pattern. Not to mention you cant have a shooting star without a gap, and I dont consider .001 cent much of a gap.
Regardless its a breakout past resistance, and has solved the triangle pattern. All very medium and longer term bullish. Short term its bullish, just remember, this stock is heavily manipulated, and sometimes the clearest stock charts dont tell the story. Breaking .40 cents with ISEG doing everything they could to make sure it didnt happen is another story as well. But were still so close to .41, that anything is still on the table. Sometimes stocks will have whats called a "false breakout". But those are usually off no news. I dont believe thats what we saw today.

Thanks for the chart and the explanations, Relmor! If you look really closely at your chart you can see the outline of a raging bull whose horn is taking dead aim at .42/.43 and beyond.

I'm taking your advise (and the other esteemed members of SA/SB/SW) to sell a portion of my core (10-20%) at around .51 and then rebuying on the predictable retraction to accumulate more shares for the upward push. As you say: wash, rinse, repeat!

[MLSiri]

http://www.stockpickr.com/problog/1596/


Four Must-See Charts: Tech Stocks.................................

Trips, thanks for these charts as well!

Go SIRI!

[MLSiri]

anyone....i'd like to check out the sat site pararick & others went to, can someone pass on the link, thanks...

TR: the main page is: http://www.satwaves.com/


read and comment on the articles and then go to the Forum. Pretty cool site!

[tucknroll]

got it, thanks

[stang3O2]

Relmor- I'm not as expierenced as you but isnt a shooting star a bearish signal, signaling to get out before the uptrend reverses? I could be wrong as i'm still learning the signals.

[relmor2003]

Relmor- I'm not as expierenced as you but isnt a shooting star a bearish signal, signaling to get out before the uptrend reverses? I could be wrong as i'm still learning the signals.

The star is a gap up, and a strong hold. Shooting star would be another gap up, and a close below the open, after a large up push. Yes, you are correct. But thats more for intraday than dailies. I call a shooting star a breakout off a gap up, as do other traders when looking at dailies, not intraday.
I changed it to not a star at all, as the gap was closed in the morning, its just a bullish uptrend is all really. No name for those two candles, unless there is a gap. We might have somethign tomorrow, if we get a reversal signal(but I dont expect this to happen).

P.S. Some people call them morning stars, or rockets, depends on the lingo. But a gap up, is usually even better when gapping up past a resistance level(might not close that gap for months, weeks, even decades(gap in the DOW chart from 1927.).