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XJT & ESL

 
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rm



Joined: 05 Apr 2006
Posts: 140

PostPosted: Thu Aug 10, 2006 1:19 pm    Post subject: XJT & ESL Reply with quote

How do these look to you guys, good enough buy signals to get in?

I see some resistance at 6.67 on XJT but it formed a good candle which has come through the 50 ma. The weekly chart is week Laughing , but it does look like some support is there.

ESL just looks like a bottom is there and some buyers have come in.

rm
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ninner



Joined: 17 Feb 2006
Posts: 167

PostPosted: Thu Aug 10, 2006 10:20 pm    Post subject: Reply with quote

hey dude....well my opinion is i would wait to see if it opens higher and then buy in....i believe that is a nice piecing pattern ..doesnt the gap down make more reliable...i would buy some ESL....it may test that gap....this market stinks right now on the long side...personally, i think we are going down further.


all the best
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rm



Joined: 05 Apr 2006
Posts: 140

PostPosted: Fri Aug 11, 2006 1:30 am    Post subject: Reply with quote

One good thing about this market, it makes it easier for me to decide when to take profits. If I get a good percent rise, I'll take it.

You never know what candle the next day is going to bring about. Confused

If ESL and VLCM can break a little resistance they've got plenty of room to grow.
XJT I'm watching more with it's fundamentals (low debt, good cash) in mind. I am surprised it had such a turn around day with all the scare in the airline industry, I wonder why people jumped in today.

I'm saving some money back for a possible HANS buy. We'll see which one wins out... the downtrend... or my patience Razz

rm
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Scooter



Joined: 02 Jul 2006
Posts: 98

PostPosted: Sun Aug 13, 2006 12:07 am    Post subject: Reply with quote

I see a couple problems with XJT. First, I think it could be argued that there is not enough of a downtrend established to consider the piercing pattern of 8/11 to be a legitimate sign of a reversal. It might be a little early. You basically had four days of downtrending after a period of consolidation. I think most of the candle gurus like to see about 10 days of a trend before calling a reversal. Secondly, the stochs are not quite oversold (using 12,3,3), though the Fast does seem to be starting to turn upwards. If nothing else, the Piercing line could be a sign that a reversal is coming sometime soon. Stay tuned.

ESL is intriguing. Three good up days after a near-doji and that in the face of an overall down market. As rm indicated, it's got quite a gap to fill if it gets some momentum. You mentioned a little resistance, rm. Where do you see that at, and what is your reasoning?

I agree VLCM is another interesting one to keep an eye on. Thanks for bringing these to our attention. I've added them to my watchlist.

Scooter
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rm



Joined: 05 Apr 2006
Posts: 140

PostPosted: Tue Aug 15, 2006 1:51 am    Post subject: Reply with quote

Whew,
been laying flooring and have gotten behind on things.


On ESL, on the weekly chart back from Oct. 04 to May 05 it was struggling to get too above the 33.95 area, it broke through that area may 16th.

Mainly I was talking about the candles where it dropped on 3,4 and 5th of this month. It needs to beat 34.45 on the 3rd to get some open area.


Volume did pick up a little yesterday.

I do want to see VLCM open up higher today than yesterday.

rm
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