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DSTI Alert

 
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ChickenHawk



Joined: 24 Apr 2005
Posts: 247
Location: Houston, Texas

PostPosted: Tue Feb 27, 2007 1:11 am    Post subject: DSTI Alert Reply with quote

DSTI was a last minute buy I made late this morning right before leaving for work. Sorry I didn't have enough time to post this sooner.

I've seen the same double patterns before, a few months ago, and regretted that the last time I waited until too late and missed an opportunity. Almost missed it today, but fortunate enough to get in at $4.10

The patterns I am referring to are the Scoop pattern with an Embedded Frypan bottom, as seen in the chart below. The stochastics are secondary. Candles Rule!

I expect DSTI will reach the $7+ range in a rather short period of time. My target is $6.00 and then I'll let the candles decide. I anticipate reaching the target date in 3-7 days.

Happy Candling!


Chart courtesy of StockCharts.com
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ChickenHawk



Joined: 24 Apr 2005
Posts: 247
Location: Houston, Texas

PostPosted: Tue Feb 27, 2007 12:10 pm    Post subject: Reply with quote

Leaving for work now. All the profits from yesterday were gone early today when the Dow took a nose dive.. but I find it amazing that as of now DSTI is up almost 3% for the day when the Dow is -170 and Nasdaq -51

I could have sold the position, but as a believer in using Candlesticks, I have learned to be patient.

Happy Trading Exclamation
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ChickenHawk



Joined: 24 Apr 2005
Posts: 247
Location: Houston, Texas

PostPosted: Sat Mar 03, 2007 7:03 pm    Post subject: Reply with quote

Update for the week for DSTI

I was a little nervous on Wed - the day after the big fall - but here is the thought I had at the time.

TRUST THE CANDLE PATTERNS Exclamation

2-26-07 Buy @ 4.1

3-1-07 Sold @ 4.78 +16.5% Profit ( two day period) - in the last hour of watching the 10 min charts (before leaving for work) the trading was in a flat mode. I decided to take some profits and buy back around the 5.00 level

3-2-07 Buy @ 5.20 I missed the early opportunity to buy back a bit lower, but the candles are still looking good for a move to the 200SMA (6.00 - 6.40 target). I estimate the 200SMA to be a good sell target around 6.03

Now anxiously waiting for next week....
....at least I have Steve's New CD - Projecting Price Targets that came out last week to keep me company this weekend Laughing

Big Note: The Dow was down 416 on Tuesday, but DSTI was up 8.90%...all due to Candles Wink

Thanks again Steve and Happy Trading Very Happy
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mjlewis



Joined: 10 Jan 2006
Posts: 42

PostPosted: Wed Mar 07, 2007 11:24 pm    Post subject: Reply with quote

Hi ChickenHawk.

I'm interested in your thoughts on the recent action in DSTI. I saw the bounce off the 20 day and the move through the 50 day ma, and bought at 3.55 back on 2/23. I sold some of my shares at 5.04 on 3/2 to take some profit considering the huge run it made in such a short time, but have held the remainder of the shares I purchased.

Are you seeing the last 3 days (large bearish engulfing, failed gap back up, and then today's action) as the "end of the ride" (so to speak), or are you looking for it to move back up after it falls back to the 20 day ma? The STO are falling after moving into OB territory, as well.

Thanks.
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ChickenHawk



Joined: 24 Apr 2005
Posts: 247
Location: Houston, Texas

PostPosted: Thu Mar 08, 2007 9:31 am    Post subject: Reply with quote

That's a tough one to answer.

Not wanting to be Enron'd, I took profits, and bought back in. Had some computer problem with IE for a couple of days and when it was resolved I was down 15%. I could have sold at 5% loss, but decided that I still like the double, strong candle patterns and believe that it will recover back to the $6 range, will just have to be patient and trust the candles.

Notice that it is still above the 1/2 way poinf of large bull candle on 2-26. could be a J hook .

with such a large bear candle on 3-5 I would expect a kicker the next day if the bears were strong, but the bull harami indicated the bulls are still interested. Will wait and see.

Thanks for the thoughts.
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mjlewis



Joined: 10 Jan 2006
Posts: 42

PostPosted: Sun Mar 11, 2007 10:11 pm    Post subject: Reply with quote

Hi Chickenhawk.

Well, Sold the rest of my position on Friday around 3.75. I see that it closed above the 20 day, and I'll buy back in if it looks like it's going to have another leg up, but the gap down with the STO falling down to 50 (and crossing below 50 now) is too much for me.

Good luck!
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mjlewis



Joined: 10 Jan 2006
Posts: 42

PostPosted: Tue Mar 13, 2007 10:58 am    Post subject: Reply with quote

No one has a "I told you so?" when I sold at support on the 20day ma?

I definitely have something to learn on my exits.

Very Happy
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