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BCON before it's BGONE

 
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ChickenHawk



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

PostPosted: Wed Jul 25, 2007 7:25 pm    Post subject: BCON before it's BGONE Reply with quote

Man, how this forum has been pretty quiet for the summer, so I thought I might perk it up a bit.

I bought into BCON last Friday after the Morning Star signal. As you can see by the chart, the Stochastics were at the right place, at the right time.

Naturally, the probabilities said it should go higher, especially with that large Bullish candle. I jumped in at $1.88, but missed a nice move when I left the computer for an hour or so.

However ! As I have learned the hard way to trust the candles, the price has not closed below the 1/2 way point of the bullish candle.... is above the "T" line (acting as support, along with the 20 SMA).... and the 3 EMA, not shown, is above the 8 EMA - Thanks Rick!. You see I do learn something in the Stock Chats!

What is the "T" line? Hint Idea Join the Free Stock Chat on Thurday to find out Exclamation

I don't want to get greedy, so I have placed a Sell order at $2.20 (less transactions fees) for a 16% move.

All I can say is, "Place your Bets", and join in the fun as the odds are highly in your favor for making a nice, quick profit.

By the way, while watching the number of trades that crossed hands at the $1.72 area yesterday, I noticed a slew of sizeable orders which reversed a slide below the 1/2 point of the Bullish candle and pushed the price upwards in a strong fashion. This indicates to me, that people are seriously thinking the the trend is up. Patience is a virtue....

Happy Trading Very Happy


Chart courtesy of StockCharts.com
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Harry



Joined: 11 Jun 2005
Posts: 128
Location: midwest

PostPosted: Thu Jul 26, 2007 8:33 am    Post subject: Reply with quote

good luck I hope you are right. I don't want any of it right now. I have seen bull traps all summer set up just like this. Smile
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ChickenHawk



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

PostPosted: Thu Jul 26, 2007 5:20 pm    Post subject: Reply with quote

The Dow was down 311 today ( the day after I posted BCON on the forum), however, BCON was only down .01 with a spread between the 3 EMA and 8 EMA Exclamation

There is a penant that formed and BCON reached the point, but only a .01 move Question C'mon now, the bulls have got to be a strong influence in BCON, or else it should have plunged as well.

Your thoughts?
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rm



Joined: 05 Apr 2006
Posts: 140

PostPosted: Mon Jul 30, 2007 6:11 am    Post subject: Reply with quote

This one looks good to me, friday was a flat doji and closed up .01 above thursday. It's still riding between the 2 and 8 ema's and when I looked back on the insider trading I noticed 1.8 million shares that were bought by one person on 7/06.

I'm in at 1.81

rm
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rm



Joined: 05 Apr 2006
Posts: 140

PostPosted: Thu Aug 02, 2007 8:13 am    Post subject: Reply with quote

Well this one made a drop below the T line. It's down .10 for me. Are you still in Chickenhawk?

I had my stop loss a little lower than I needed to but I'm still learning, I didn't get knocked out so I wonder what will happen today?

rm
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ChickenHawk



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

PostPosted: Thu Aug 02, 2007 3:28 pm    Post subject: Reply with quote

I am still in until the price closes for the day below the 1/2 way of the large bullish candle of Jul 19th.

It is right at the 1/2 way point, but I am still trusting the candles, and staying with my strategy, waiting until the end of day.

For the past 10 trading days the price has remained in the top half of the large candle. The next few days may tell me what to do.
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Harry



Joined: 11 Jun 2005
Posts: 128
Location: midwest

PostPosted: Thu Aug 02, 2007 4:53 pm    Post subject: BCON Reply with quote

ChickenHawk, I am sure you know this but you are down 13.8%. If I am reading you right you don't have a stop loss set you are only going by the formation of the candles. The candles can't tell you the future, they only show the herd mentality after the fact. I hope you only have a small position. Be careful. Smile
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