Hi S.G.,
I'm sorry that it took so long to get back to you; my day has been filled with meeting after stupid meeting. I was only able to take a peek @ the market around lunch time...
Looks like a great short IMHO (please bear (no pun intended) in mind,<g> that I have never intentionally shorted anything in my life. (I haven't been indoctrinated in the ways of the dark side... although Shack & Bob are certainly trying to convert me)<ggg> Just kidding... I can't short 'cause what little money I have is in my wife's RRSP
So here goes...
stockcharts.com a double bottom breakdown (bearish), very interesting to note that on the PnF chart BCB failed to punch through significant resistance @ 18.00. She turned down sharply. The stock is still in a long-term uptrend so if I was shorting this stock, I would place a stop-buy just over the last column of X's ($18) or the 2nd last column of X's @ 17.50 or so (buystop placed according to YOUR own risk tolerance & amount invested) Note that the stock has support @ $13.50 & the long-term trendline support @ $10.00 (today).
On the daily chart... stockcharts.com[w,a]dicayymy[dc][pc5!c21!c50!c200!h.02,.20!f][vc60][iut!Ul14!Lc20!La12,26,9!Lh14,3!Lb14]
S.G. looks like you really nailed this POS! Everything on the daily chart is very ominous (except CMF). As Cush is fond of saying 2 out three ain't bad LOL.
-D1 crossed over +D1 & the ADX has turned down indicating a change in trend (down in this case), Ugly candle as u pointed out, SAR has reversed, volume starting to pick up, Slo Stoc, MacD & RSI Negative...FWIW
I hope u make a killing... let me know how u do (please)
Good luck,
Peter |
