Winer... Excellent posting...
1) DML went down but the others may follow on Monday or later next week.<<<
I'm inclined to agree with you except for one thing...
I was watching the floor (market depth) on the NAI and the trading on the DML/CYP/LAB/NDE/MGE/MGJ and yes CWA... Other than DML ALL the others closed flat or up/down a penny or two on relatively good volume...
Most of the DML trading, other than the brief spurt around lunchtime, was on the bid (bidwacking). It was the same with all the others up until DML began it's short term blip upwards...
Once DML began it's climb all the others followed suit, right out of their daily bottoms...
When DML began it's decline to the 1.50-55 range, (around 2:00p.m.)... the others didn't follow...
The floor showed some pretty heavy bids down to .75 on the NAI, right up until the close...As a matter of fact they where still taking out the offerings up until the close of trading today...Had one of my broker's check the floor on the MGJ and it was quite well bid also...
What I'm trying to say is, there was plenty of time for all the other jv's to join in the downtick that DML took. They didn't... and that's what is beginning to confuse me...
Don't get me wrong... I have done fairly well trading the DML... My entire long position has been paid for by my trading position...Am just riding the profit now...Hopefully they (the profits) don't erode much further...
Looking at DML's chart, and up until yesterday I was expecting the formation of a second shoulder, wasn't expecting to see cleavage...That is BTW, why I posted and asked for a Techno's opinion on the chart...To which, I might add, there was no reply,
Re: The internet newsletter's:
I'm agree with what your saying about the letters...I get quite a few of them myself...I automatically disgard the information on those company's that are trading more than 50% higher than their 52 week lows...The others I watch the trading patterns for awhile...Usually I find that the more newsletters that pump a stock which is trading more than 50% of the 52 week high, the more volume is created in the stock with no upward movement... usually a downtick follows a few days later...Prime examples FDCD/cdn/otc and DVL/vse...
BTW: What price was the DRZ/DML at when Grandich picked up on it?...
My opinions, that's all, FWIW.
...ed |
