Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Charts on Near Term Uotrends -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (1063)	1/24/2009 11:53:24 AM
From: Jibacoa	Read Replies (1) \| Respond to of 1404

FUQI. An example of why I've never had much faith in "support levels", esp. so for dinky stocks Paul, it seems to me that you bought FUQI based on your DD from a fundamental view.Like the fact that it has 4Qs of better revenues and earnings, +CF, insiders holding >50%,low PE,Thompson's estimated earnings of $1.20 for 2008 and $1.50 for 2009 If you had approached it from a purely TA standpoint then you had to pay attention to possible or "imaginary" support and resistance levels and to how the stock performs, as it may be giving you indications of temporary tops and bottoms that will in turn, then become new resistance and support levels. :>) As you know, all round numbers supposedly are theoretical support and resistance levels because of their psychological impact. The same applies to previous Hs and Ls, up-gaps and down-gaps, etc. Getting back to FUQI's recent performance, if you were looking at it, or playing it from a TA standpoint, you had to watch how it performed as it approached the test of the first 'resistance' at the $8 level. (The $8.20 was the 'resistance' from the Oct31 H) After the good % up-move on Jan5 on volume of 365,500 The % up-move on Jan6 was still good, but only 1/3 of the previous day on volume of 350,000 On Jan 5 the stock closed at the intraday H, but on Jan 6 the H was $7.87 and the C $7.75 On Jan7 the H was $7.73 the L $7.18 and C $7.38 The %L was higher than the % gain of the previous day on less volume of 212,400 Although it isn't good to let your gains evaporate, the action on that thay wasn't enough reason to sell if you didn't want to join "the profit takers group". :>) On Jan8 the H was $7.87 the L $7.14 and C $7.74 on volume of 195,000 Although the $$ gain was a penny less than the loss of the previous day,the % gain was good on less volume, but the thing that didn't look good was the H at $7.87 was the same as the H of Jan6 which was a temporary double top, indication of a resistance level, that needed to be watched. <g> On Jan9 the H was $7.89 L $7.45 and C $7.51 on volume of 124,000 The % L was less,but the important thing was the triple top, indicating a somewhat strong resistance at that level. With the indication of a temporary top, it was necessary to bring the trailing stop loss to the $7.45 level, which was the L of the previous day and the H of Jan5. That way you resigned the gains on Jan6, but preserved the gains of the previous up-move to the H of Jan5 :>) Bottom line: When playing it from a TA standpoint, the support and resistance levels are just lines on the sand that should be watched, but they keep changing according to new developments. (Somewhat similar to the lines on a battle field, after all, what you are looking at is the actual intraday battle of supply and demand which is affected not only by fundamental factors, but in large part by psychological and other factors unknown or known only by a selected few. :>) "It isn't good to try to sell at the top. Sell if there is no rally or if the rally fails to go over the previous top." <g> I don't have enough time to do daily postings, much less to look at the daily performance of stocks, that each one should look at and draw his or hers own conclusions. RAGL Bernard

To: Paul Senior who wrote (1063)	2/20/2009 12:07:32 PM
From: Jibacoa	Read Replies (1) \| Respond to of 1404

FUQI keeps reporting nice gains on revenues and earnings. I also have it on my WL.:>) The pending 4thQ results are still expected to be OK. According to Thomson, the EE for 2008 and 2009 are $1.20 and $1.50 respectively, vs. $0.46 in 2007 and $0.29 in 2006.<g> But today it opened with a DG on a one minute volume of 42,852 Today's L,so far, of $4.50 seems important, since it is the same as the Feb5 L, the Feb12 L of $4.51 and the Feb18 intra-day double bottom at 9:30AM and 3:30PM The stock is down 45% from its January H. But it has a higher % potential gain from present levels than AIRT, although it doesn't pay any dividends.<g> However, there is again no rush to buy it until it gives a "buy signal".:>) The "target" in Yahoo is around $11, but if it just can get back to the Jan Hs, it will be a good % gain.<g> finance.yahoo.com Bernard

To: Paul Senior who wrote (1063)	7/20/2009 5:05:08 PM
From: Jibacoa	Read Replies (1) \| Respond to of 1404

FUQI. An example of why I've never had much faith in "support levels", esp. so for dinky stocks. Well, I suppose you no longer think it is so 'dinky'. :>) Remember the comments back in May ? AIRT continues doing well on low volume. bigcharts.marketwatch.com But, FUQI looks better and also has good trading volume.:>) bigcharts.marketwatch.com I have been kind of busy lately on other matters, but plan on doing another 'scan' this week, as some 'overbought stocks' need to be replaced.<g> RAGL Bernard