PERF - Stage 1B currently with improving relative performance which has just crossed the zero line, but no notable pickup in volume yet, but that is more important on the breakout week when you'd want to see at least two times the average volume. So watch for a strong close above the resistance at the top of the Stage 1 range. Attached are the charts.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Just looking at some of those charts you can imagine the pain the shareholders would be in who buy and hold at the peaks of these stocks PNTR, DRYS, BWEN, XPLR. Its taken almost 10 years just to have a minor rise relative to their peaks. The stock market can be a brutal place for those who don't know the system.
We have almost a similar situation in the UK/US with the mining sectors, esp. the precious metals sectors (gold and silver). I bought a stock, NYO at around 22, and it is now priced at 0.40, so down around 98%. Will I see my money back, maybe not, but really to sell out now would be pointless. Its worth one month's internet costs. I invested, and held, when I wasn't aware of bull and bear markets. I started investing just as the mining sectors was breaking out and got quite lucky...only to give all my gains back...because I didn't know about trends, bull/bear markets.
Point of this post...when a stock enters a bear phase (stage 4), being discipled and stick to your stop. Never ever lower it as prices decline. Selling at a 10-20% loss is acceptable. Accept small failures as a step towards victory.
USAK has been on my watchlist for a while as it's had a very strong Stage 2 advance during the last year after making a Stage 2A breakout at the end of April, and since then has moved up over 150% on heavy volume. The relative performance has been very strong and it's been consolidating for the last few months on much lighter volume and has broken back below it's 10 week MA and so looks to be entering a pullback phase within it's Stage 2 advance.
The 30 week MA is a long way back at 9.38 which is almost 30% below current prices and there's no near term support other than the most recent lows. So it's one to watch over the next few weeks and months for if the consolidation/pullback completes and turns up again as the volume from the previous advance suggests that it will attempt to make a Stage 2 continuation move at some point if the volume stays light during the rest of the consolidation/pullback phase. Attached are the charts.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
(2014-01-02, 02:58 PM)isatrader Wrote: USAK has been on my watchlist for a while as it's had a very strong Stage 2 advance during the last year after making a Stage 2A breakout at the end of April, and since then has moved up over 150% on heavy volume. The relative performance has been very strong and it's been consolidating for the last few months on much lighter volume and has broken back below it's 10 week MA and so looks to be entering a pullback phase within it's Stage 2 advance.
The 30 week MA is a long way back at 9.38 which is almost 30% below current prices and there's no near term support other than the most recent lows. So it's one to watch over the next few weeks and months for if the consolidation/pullback completes and turns up again as the volume from the previous advance suggests that it will attempt to make a Stage 2 continuation move at some point if the volume stays light during the rest of the consolidation/pullback phase. Attached are the charts.
That is a great looking chart. A nice pullback into the $10-$11 range would be spectacular and then it doesn't look like it has major resistance again until the $18-$20 range. The 30 week MA has a really nice angle upwards in its Stage 2 advance.
Adding this to my watchlist as well. Thanks!
I've missed more than 9,000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over again in my life. And that is why I succeed. - Michael Jordan
