|
PureBytes Links
Trading Reference Links
|
"I do not follow the stock, but I looked at a chart on the Yahoo!
database, and I could not see a saucer. I do not believe a chart
pattern could have much meaning on a .25 stock with so little volume."
The smoking jacket crowd doesn't like 52,000 avg. vol. stocks. Those guys
are working in 10s of thousands share "investments". but the poor investor
with 1-2000 shares doesn't not let it bother them too much. my data just
goes back 92 on SBEI, the low I see is 3.38 in DEC 96. Since then it has
gone to a high of 19.50 in Sept 97. 477% move in nine months! not a bad
return over time. A buy now? I don't see it but I keep it in my database.
Sometimes people mix up level of price with some sort of "value". this
stock has a 10.5 PE , price to sales of 1.37, revenue growth of 83% over
last nine months and a beautiful 1.9 million float that allows the stock to
move fast. We must remember the old dinosaurs were small once.
Richard Estes
-----Original Message-----
From: Al Taglavore <altag@xxxxxxxxxxxx>
To: Greatelto <Greatelto@xxxxxxx>
Cc: metastock-list@xxxxxxxxxxxxx <metastock-list@xxxxxxxxxxxxx>
Date: Tuesday, December 09, 1997 1:26 AM
Subject: Re: Interesting Patterns
>Greatelto wrote:
>>
>> For those of you who are pattern watchers, look at SBEI. Looks to me
like a
>> classic "saucer" formation. The stock has pulled back to the breakout
>> point....a great buying opportunity for believers.
>>
>> Looking at the longer term chart, it shows up as a "cup"
formation....still a
>> rather bullish pattern.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
>I do not follow the stock, but I looked at a chart on the Yahoo!
>database, and I could not see a saucer. I do not believe a chart
>pattern could have much meaning on a .25 stock with so little volume.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
>>
>> In my research I am seeing quite a few small cap stocks pulling back to
break
>> out points. Another good example is ADEX....a basing pattern pullback.
>>
>> Any comments from the "smoking jackets" out there?
>>
>> Jerry
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
>ADEX could be more interesting. I used the CBS chart. Again, after
>falling over 50% from the August high to the low 20's in Oct, it is
>surely due for some type of bounce. If you draw a trend line from the
>late Sep high to the high point in early Nov, has the price broken
>though on increased volume? I also noticed that the 50 ma is at 30, and
>the stock is at 24+. Dec 3&4 could be an indication of support. I
>could only take a position on a close above the Nov high near 27, then
>add to the position on any move above the Nov high at 33. Would exit
>original position on a close below 21. Noticed that the heavy volume
>came on falling prices. Need to see some meaninful volume on rising
>price. When I was actively trading stocks, I used a breakout above the
>3/72 day sma as a good place to enter any trade on a short term basis or
>take an option position.
>
>All of this is the way I would read the chart. This and 75 cents will
>buy a cup of coffee anywhere in Shreveport LA, where LSU will battle the
>Notre Dame Irish in the Independence Bowl Dec 28. Game a sell out, will
>be shown on ESPN.
>
>Al Taglavore
>
|