DCN - another MA(200) breakout in an oversold stock

[TheChartGuru]

In, 2000 @ 3.10...another MA(200) breakout in an oversold stock

The Guru has spoken

[BOOOYAHOOO!]

In, 2000 @ 3.10...another MA(200) breakout in an oversold stock

The Guru has spoken

And lemme take this time to appologize to you and everyone else. When it started the week at 4.10 and I made it my play for the weekly challenge you can see in my post that I said DA BOTTOM would come in at 2.65 on da low end of my range. Well I missed by .01 and I am truly sorry. :) That said, it will retest the 2.66 low so maybe my 2.65 perdickshun can still come true! YES! But I guess she can run to like 3.50+ and unwind all of this extremely negative OBV today. Hey shorties! Cover baaaabeeeeee! LMAO

[jeffwils]

You still sticking to your 10% gain then exit? I was in a meeting when that sucker busted the MA (200) and didnt get in. Got an account on Prophet.net now. WAY better than the scottrade stuff.

[TheChartGuru]

I got the Silver memebership. PN gives you a free 7 day trial and you can try the Gold. That's what I did, but didn't really care for it.

I'd like to get more then 10% when ever I can. I'm looking for a MA(500) breakout over $3.35


The Guru has spoken

[jeffwils]

I opted for the silver as well. I didnt figure I needed the Gold. I pay for that and stockfetcher. I bought a course called stock teacher a while back. It's in PDF format. It covers nearly all of the things you have said on this board. Thanks for posting your moves. I have learned a great deal from them. Your presence here is valued very much.

[Mad Girl Investor]

I opted for the silver as well. I didnt figure I needed the Gold. I pay for that and stockfetcher. I bought a course called stock teacher a while back. It's in PDF format. It covers nearly all of the things you have said on this board. Thanks for posting your moves. I have learned a great deal from them. Your presence here is valued very much.

Jeff,

Would you be willing to share your stock course? Im new and learning and could use some help. Thank you.

[Mad Girl Investor]

News today that DCN is working with a restructuring firm to avoid going bankrupt. Stock down to $2.80 in after hours trading.

I got in yest at 3.18. My feet are sweating...:(

[jeffwils]

Mad Girl your DCN is doing a lot better this morning. I nailed some $$$ on the ride up. I like that! Waiting on BMD to break the 200 and do a pull back like Guru said. Tick Tock......

[TheChartGuru]

BOy what a ride for DCN...I didn't have the money to average down :(

Defenitely, panic selling

BMD took off as expected...will it pull back? Dunno...stuck at $6.58 right now. Seems no one wants to sell their shares. Keep an eye on BCON

My GNTA finally taking off today. Man what about OSTE! I sold to early around $4.47..

The Guru has spoken

[Mad Girl Investor]

My feet have dried out a bit...I saw it go from 2.75 when I woke up and within an hour, down to 2.27. Gulp!

Now, back to 2.82..and Im still in.

I think I need a new pair of depends!

Congrats Jeffwills, for your ride up!

[jeffwils]

BMD sure flattened out this am. Sitting here waiting for the 200.

AHCI (bought at $5.05) is just sitting there for the last couple of days. Thinking about pulling out til the chart looks better. The 50 is forming a resistance line and I aint liking that much.

[roy]

Chart Guru,
Learning a lot from you about Technical Analysis and trading in general. Thanks a lot for everything you do here. One question: what do you look for in the chart when you sell? Yesterday, you sold NAVR at 4.01 when it was at the peek (which is perfect); what indicated that it was going to be down from there? Thanks again.

[TheChartGuru]

NAVR moved up pretty fast yesterday and it gapped up at 2:50PM. Watching the 1 minute chart, it then formed a small green candle then a red candle. This told me to get out because NAVR had peeked. I like to take profits, but if I would have been wrong and NAVR would have gone higher, I may have bought it again on the pullback. As you can see, that WAS the top for NAVR. It has gone down the ma(200) twice. MA(200) is resistance and it needs to break through it and then find support at the 200 again before buying it. I rarely buy an oversold stock twice once it had it's bounce. OWENQ is down also today.

The Guru has spoken

[jeffwils]

Thoughts on AHCI? All those crosses I thought for sure it would have bounced by now. it's toying with the 200 but cant seem to stay above it.

[roy]

NAVR moved up pretty fast yesterday and it gapped up at 2:50PM. Watching the 1 minute chart, it then formed a small green candle then a red candle. This told me to get out because NAVR had peeked.
I see. The momentum slowed down, and the red candle indicated a sell. As always, thanks, TCG.

[Mad Girl Investor]

Guru, are you still in DCN? IF so, any insights to offer as to whats coming next?

[oldboldpilot]

Take some Chart Guru, temper it with BoooYahooo and you get better
results. Fridays are a good day to sit and contemplate your navel.
Watch out for restructuring plays. More often than not they are disastrous.
Hope Mad Girls DEPENDS didn't fail her and she stayed dry !

[TheChartGuru]

Mad Girl, I sold DCN at $2.87...lick my wound and move on. I broke my rule yesterday, which is to wait for the pullback to the MA(200) before buying DCN. It hasn't been able to hold above the 200. Support is at $2.20, if it is compromised it can go below $2.

The Guru has spoken

[roy]

Here it comes again ...

[BOOOYAHOOO!]

WOW! -20 million OBV the third time down to 2.25 and this time it hit 2.23. I'm not sellin! Nooooo way! :)

[mhertz]

Is this a buy at under $2.30?

[BOOOYAHOOO!]

Now at 2.11, 2.10 is 50% below the last major suppot at 4.20. Let's see sum real fer into da close ta take er sub 2.00 :)

[mhertz]

Now <$1.75 - where's a good entry point??

[BOOOYAHOOO!]

Now <$1.75 - where's a good entry point??

If you paid 1.75 ya done better than me! :) Looka the last trade of 90000+ shares! Can you imagine how much $$$ that guy lost today alone?!!! LOL

[Pierre]

Buck -fifty... is that low enough fer ya...
So... do ya think it's a buy now? In and out on this one...
Can't seem to find a bottom here, maybe monday...

[TheChartGuru]

DCN, EGHT and BCON are going to be a great plays next week!

The Guru has spoken

[BOOOYAHOOO!]

Buck -fifty... is that low enough fer ya...
So... do ya think it's a buy now? In and out on this one...
Can't seem to find a bottom here, maybe monday...

I'm waitin to see da final chawt setup but I'm not real hopeful being that it went a full 30% outside da parameters of my 50% rule, the last time I saw selling like this was with Enron! We all know how that turned out. Still wanna see da chawt but I personally didn't think it would break below 1.90. This thang got salamied! :o

[Pierre]

Not to sound like an idiot...I can't wait til monday... I mean, where's the Ford people gonna get their axles now...Should be quite an opening...I'm excited and quite giddy... then again it's probably the Jim Beam & coke...
Well good luck!

[oldboldpilot]

take a look at today. I sat in front of my screen for a good portion of the
trading day today and I NEVER saw the trade that took MSEV down more
than 50%. It popped right back but this is an illustration of how you can
be blindsided when trading penny stocks. Regardless of what charts
indicated, Dana(DCN) plummeted because it is restructuring. That is half a
foot from declaring bust ! Hopefully, people who bought into DCN didn't try
to average down ........they got out with a flesh wound rather than a
complete meltdown. On the DISCUSSION board, I asked people if they had
a clue as to why Zoltec (ZOLT) took such a hit last week. Without
exception, the answer was the stock was overbought and overvalued.
Today it rallied and gained back all it had lost and then some. Charts
are great but they don't tell you everything !
Those who feel DCN will come zooming back.....take a look at Lucent and
see how it's doing after being a high flyer.

[BOOOYAHOOO!]

I'm waitin to see da final chawt setup but I'm not real hopeful being that it went a full 30% outside da parameters of my 50% rule, the last time I saw selling like this was with Enron! We all know how that turned out. Still wanna see da chawt but I personally didn't think it would break below 1.90. This thang got salamied! :o

So much selling that it is even tough to tell if that is a true chawt setup showing a new trend low into da close or it isn't. I will just have to wait until the open on Mon for a better idea. I would venture to say that the best we can do from here would be the 2.25 area in the very short term. I bet that gets hit sometime next week. Since this stock is no so far outside my parameters I will sell everything if it hits that target. At 2.25 I would be out purt near close to painless, wish me luck! :)

[bludevil007]

TCG, what's your plan for DCN next week, given the recent dropoff. Im following closely on BCON, but was just curious about this one.

[jeffwils]

my guess is he is gonna wait for it to break out of the MA (200) then wait for it to hold, pull back then nail it. Just a guess though.

[jeffwils]

oh wait...its break the 200, wait for the pullback, wait for the bounce...THEN nail it. yep...that's it.

[Pierre]

It's not that bad. Lotsa buys in the after hours... including a 10 and a 5 million block @ 1.60...Who knows, we'll find out monday morning... sure looks like a bargain to me...Definitely a bloody mess in the last 20 minutes...Lots of panic sellin... I am definitely rootin for Boo on this one and I hope everything works out well for da " Booyah".

[TheChartGuru]

Thanks Jeff, I'm tired of explaining the MA(200) entry LOL

The Guru has spoken

[Damon]

Boo, did you buy this? If so, at what price? It sure took a dump today. Is anyone else on the board holding DCN?

[George Costanza]

Hello all.
This is my first post. I discovered The Chart Guru’s threads by happenstance a couple weeks ago. I have been impressed with his accuracy and the upscale nature of the conversation that springs up around his postings.
As my screen name might indicate to those Seinfeld fans among you, I am one unlucky person when it comes to most everything. LOL I have even tried George’s method of “doing the opposite” of whatever my gut impulse is. The only exception to my star-crossed nature is my exceptional ability in fantasy football. Well, at least that’s something. J
Anyway, I wanted to apologize for some of the horrible results of late. No matter the situation, a stock almost always drops when I buy it and rockets upwards when I sell. A great example is DCN, which I bought at $2.93. I also bought BDM near the close yesterday at $6.44. However, it dropped going into the closing bell and I have the worst luck when I leave money in the market overnight. So, I went ahead and sold so you guys could ride it up today. Ha J
The very first time I opened a brokerage account was 10 days before the peak of the bubble in 2000. My next big investment was at the end of August 2001. Timing is everything.
Anyhoo, sorry to bum everyone out but I wanted to chime in and say how much I have enjoyed finding a forum where people are cordial and discuss things in an intelligent manner. I also wanted to once again apologize for anyone I brought down with me with DCN and others. I am thinking about making postings like TCG whereas I list my stocks as purchased so people have forewarning of what to avoid. Which reminds me, stay away from NYNY as I bought an insane amount, 4700 shares, at $4.80 today. Over this weekend I’m sure they will find out that horses cause cancer or something like that.
I would give anything to sell a stock at a 5% to 10% gain just once! Running out of money though. LOL
Good luck to all! And seriously, beware of my picks.

[Kevin Wong]

I'm still in with DCN. I'm not holding much, but I bought in a few weeks back at $4.XX...the past two days were just lousy. I didn't have time today to sell the stock, I've been too busy at work today. But like I said, I'm not holding too much (only about 6% of my total portfolio value). This loss has totally offset all my gains the past two weeks, but we'll see what happens. DCN went higher in after-hours and we'll see if this one gaps up on Monday. New lows really scare me, but I'm hoping this was it. Some good news would be nice, but that's totally up to DCN.

[TheChartGuru]

George, you are way to hard on yourself my brotha. Perhaps all those rainy, gloomy days in Washington State are getting to you. Maybe you you need to move to sunny and fun Florida or , perhaps, all you need is some knowledge on trading stocks. Perhaps you are trading the wrong kind of stocks. I prefer stocks between .5 and $5, but maybe you would do better with more mature growth stocks that aren't as volatile. Do you have a trading system or method of your own or are you just trading stocks that are profiled in the forum? There's nothing wrong with trading the forum stocks, there are lots of good picks here and lots of knowledgeable traders, but I think that you are not using proper entry and exit strategies or money management. May I ask why you bought DCN at $2.93 near the high? You had a great buy with BMD and you sold it because you didn't want to hold over night? Georgie, where is your trading descipline? I would understand not holding a position over a weekend or holiday weekend, but over night? NYNY is not too bad. It's consolidating at the bottom and it's in a slight uptrend. Did you put all your eggs in NYNY or are you diversifying? How long do you plan to keep your positions? Until they go to the moon or will you be content with a 10%, or whatever, in X number of days or weeks? Do you buy and hold long term or just for a day or days? Do you watch the market during the day or when you get home from work or school? You must have a plan or you're going to lose all your hard earned money and you'll be playing fantasy football all summer. BTW, go COWBOYS ;)

The Guru has spoken

[roy]

Costanza,
Don't get discouraged - patience is the key in this game. I feel the same every now and then. Read through Guru's postings. You will learn a lot.

Welcome to the forum.


Jeff,
You forgot to mention when you have to look for MA(500) breakout - LOL.

[TheChartGuru]

Roy, you making fun of my MA(500) man? lol

I have mentioned the MA(200) and MA(500) so much this week, I've had dreams of the two giant MA's chancing me over the fence. But seriously, that's what I mean about having a strategy for entry and exit. Some traders use RSI, MACD or Stochastics. I prefer to bottome fish, others prefer momentum plays. I believe that you need to decide on what type of stocks to trade, put them on your watch list and trade them. Have faith in your system or don't trade at all. Yesterday I bought DCN and it bit me on the butt today. I didn't expect it to tank like it did over night, but that's part of trading. Lick your wound, dust yourself off and get back on your feet. I traded BMD today and made almost $500. I padded myself on the back and move on to the next trade. No time to celebrate or weep. You must take emotions out of your trading and use stop limits.

The Guru has spoken

[englishman26]

I set an entry of 6.40 on BMD and went skiing. It gapped above.

[jeffwils]

Dern it...i knew there was something i forgot. I have read Guru giving away his strategy so many times you would think it was burned into my brain. So it's wait for the 200...wait for the hold...wait for the pullback...wait for the 500 then nail it. I like it...systematic and reliable!!!!!

You gotta give it up to him...he sure does have patience answering so many questions. Someday we will read about Guru sailing his 65 foot yacht around the world, trading stocks via satelite with a boat full of chickies and all the cubans he can smoke. Guru...can I come too? I can wash dishes or something. The Navy taught me how to do that for sure!!!!!!!!!!! HA HA!!!!!

[Mad Girl Investor]

I will be brave and admit that I am still in DCN at2.95.

Its a learning experience for me (Which so far has only cost me $1725.00).

Its all good, cus I have faith that what is meant to be, will be.

And I will live to trade another day...hopefully Monday in BCON (Thanks TCG and Jeffwills)

[jeffwils]

Mad Girl

People were panic selling again because of what happened the night before. My guess is it's gonna go north Monday morning. I made a little change on the runup this am and I intend to do it again Monday. Like I told you...I will reveal my UA loss as soon as I get it all back. HA HA I got you beat for sure though on the loss. That stings loosing that much. Get that book Guru told you about and get a trading course that covers MAs and candles (if the book doesnt cover that). Take it slow and dont put down so much cash. Baby steps...I keep telling myself that every day. I thought in the beginning I had to buy 1000 shares at a time. Not when you are learning you dont. Watch that stock monday...it's probably gonna run up in the morning. I hope it does...that was fun this morning.

[George Costanza]

TCG…
When I had finally saved enough money and started investing, just before the bubble burst in 2000, I had two competing concepts in my head.
The first is that of my dad, “buy and hold”, the old school approach. I must admit it has served him well, but I had trouble thinking in those terms. I could get hit by a bus tomorrow, so to buy a stock and hold it for 5, 10 or 20 years just doesn’t appeal to me.
The second concept was that of so many people I knew then. They started investing in the mid-1990s when it seemed impossible to miss. They would invest for anywhere from a day to a couple months, and then take their profits. I knew this couldn’t last, but the shorter term approach appealed to me.
I initially invested in companies that I understood, had read up on, etc. However, with the top-of-the-bubble timing, everything I picked went right down the toilet. After about 6 months of that torture, I gave into my dads insistence that I needed to just hold on for the long term and, “not try to time the market”. Of course this ended up being even worse as everything continued to plummet, even incredibly sound companies like Microsoft lost me thousands.
I took a break from putting anymore of my money “to work”, or in my case, “to death”. Then, in late August of 2001, I had saved a considerable amount more and decided to invest. Needless to say, the horrible events of September were soon to follow.
After one last try in the summer of ‘02, I finally gave up in March 2003 as I had lost my job. I closed out my portfolio just before the start of the IRAQ war as the uncertainty was just too much risk for my remaining savings.
Late last year I decided to give it another shot. I reviewed the workings of the MACD, Bollinger Bands, stochastics, SMAs, etc. I then found this forum, and followed the discussion and picks. Then, as of last week, I got back in.
I have watched the market each day during the entire regular hours. Each day my watch list has included about 10 of my own researched picks, as well as many from the postings. One problem is that I have only recently started reading the forum and didn’t know what “signal” I was waiting for to indicate that an individual stock was taking off. As such, I would miss them or jump in too late. Your many recent posts about the MA (200) has answered that one for me. LOL Thanks! However, I am so discouraged, I am having trouble with the idea of investing more time or money in the process.
In answer to some of your other questions…
I got into DCN at $2.93 because I thought the MA (200) rule had applied. Luckily, I somehow got out of that one with little damage.
As for not holding the BMD overnight, I am embarrassed at how wimpy and undisciplined that is. It is an irrational thing that stems from those first 3 years of trading where it seemed like some huge event would happen overnight or on the weekend and my stocks would drop a ridiculous amount as a result. When I tried stop-loss trading, my stock would get taken out by a dip and then rocket out of sight. LOL
As for what I would be happy with, I can seriously say I just want to have a stock go up, and cash out with a solid gain. 5%, 8%, all would be just incredible at this point.
Diversifying is not where I am at right now as I really wish I could just get this 1-4 day thing right. Buy when it’s ready, and sell at a reasonable gain (reasonable=ANY at this point lol).
I bought NYNY out of frustration after the DCN thing. It was a completely irrational buy with no serious reasoning behind it other than it seemed totally oversold due to a hold up with their new casino and the chart looked okay to my novice eye. Basically, I was throwing a dart figuring I couldn’t do any worse. HA!
Well, thanks for taking the time to read this, it’s got to be a downer to do so. I think I am venting as much as anything.
As I mentioned, I have won a national fantasy football title among many others. So, when football season returns, I would be more than happy to offer advice to any fantasy players in the forum in return for all the great information I have received!
Thanks again.

[roy]

Roy, you making fun of my MA(500) man? lol

I have mentioned the MA(200) and MA(500) so much this week, I've had dreams of the two giant MA's chancing me over the fence. But seriously, that's what I mean about having a strategy for entry and exit.

Just poking a little fun at you and Jeff. I think you have been successfully hammered the MA's into our heads. With all sincerety, thanks for that TCG. Execution of this newly learned strategy - that's a different story.

Have a great weekend, everybody.

[jeffwils]

Dang Costanza...I actually pulled my pistol out and was about to blow my brains out! HA! Kidding. Sorry you have had so much bad luck with the market. There is a lot of $$$ to be made if you study the charts...learn and learn...and learn and learn. You will never stop learning. Paper trade until you get a good WORKING system. Good luck man. Baby steps I say...baby steps. Oh...stop throwing darts...that doesnt work. I tried it myself a long time ago. HA!

[BOOOYAHOOO!]

Boo, did you buy this? If so, at what price? It sure took a dump today. Is anyone else on the board holding DCN?

Oiyay! I bought it yesterday at 2.70 before da chawt setup from da move to 2.66 since me chawts be on a slight delay. When I saw da chawt setup I came back and warned TCG that the 2.66 low wassa gonna go. I was hoping for 3.50ish but I made a split decidion into the close and sold at 3:59 PM EST and got 3.19! I sold because I knew the low was gonna go and I didn't want to take chances. Today I placed a buy stop above da mawket at 2.33 the second time down to 2.25. That was filled. I posted about what was gonna happen into da close, a gapdown move. I mentioned the last major trend low which was 4.20 (until what looks like today's new one at the 1.51 low, won't know on that til Mon) so I used my 50% rule which dictates a price of 2.10 (50% of 4.20) and I figured it would break below 2.00 so I gave meself a 10% cushion off the 2.10 and set a buy limit at 1.90. I never expected it to hit that numba. I got filled at 1.82! LOL That's how bad the selling was. I saw me order filled. The next time I checked it was at 1.90. I figured.....kewel! I didn't check again until after the close and was completely surprised with what I saw! Maaaaaaaaan. I do want to say to everyone that held even after I mentioned it would be going lower yesterday....even if you bought at 3.00 to 3.20 you will more than likely get a 30%+ gain over the next 12 months. The fact that even I was getting negative means the bottom may be close at hand fo this dawg. My plan will still be to sell all or most of my current position on any move that gets it to or through 2.25 this coming week, or to hold on until final bottom comes in within the next 30 days, and then add to me position. And of course I'll be shooting for as much as possible if it rallies first (I see it traded to 1.69 in AH on 22 million shares). With an OBV of -35 million I really can't see this thang gettin much more negative without an ensuing rally so good luck to anyone in da house of pain!

[BOOOYAHOOO!]

TCG…
When I had finally saved enough money and started investing, just before the bubble burst in 2000, I had two competing concepts in my head.
The first is that of my dad, “buy and hold”, the old school approach. I must admit it has served him well, but I had trouble thinking in those terms. I could get hit by a bus tomorrow, so to buy a stock and hold it for 5, 10 or 20 years just doesn’t appeal to me.
The second concept was that of so many people I knew then. They started investing in the mid-1990s when it seemed impossible to miss. They would invest for anywhere from a day to a couple months, and then take their profits. I knew this couldn’t last, but the shorter term approach appealed to me.
I initially invested in companies that I understood, had read up on, etc. However, with the top-of-the-bubble timing, everything I picked went right down the toilet. After about 6 months of that torture, I gave into my dads insistence that I needed to just hold on for the long term and, “not try to time the market”. Of course this ended up being even worse as everything continued to plummet, even incredibly sound companies like Microsoft lost me thousands.
I took a break from putting anymore of my money “to work”, or in my case, “to death”. Then, in late August of 2001, I had saved a considerable amount more and decided to invest. Needless to say, the horrible events of September were soon to follow.
After one last try in the summer of ‘02, I finally gave up in March 2003 as I had lost my job. I closed out my portfolio just before the start of the IRAQ war as the uncertainty was just too much risk for my remaining savings.
Late last year I decided to give it another shot. I reviewed the workings of the MACD, Bollinger Bands, stochastics, SMAs, etc. I then found this forum, and followed the discussion and picks. Then, as of last week, I got back in.
I have watched the market each day during the entire regular hours. Each day my watch list has included about 10 of my own researched picks, as well as many from the postings. One problem is that I have only recently started reading the forum and didn’t know what “signal” I was waiting for to indicate that an individual stock was taking off. As such, I would miss them or jump in too late. Your many recent posts about the MA (200) has answered that one for me. LOL Thanks! However, I am so discouraged, I am having trouble with the idea of investing more time or money in the process.
In answer to some of your other questions…
I got into DCN at $2.93 because I thought the MA (200) rule had applied. Luckily, I somehow got out of that one with little damage.
As for not holding the BMD overnight, I am embarrassed at how wimpy and undisciplined that is. It is an irrational thing that stems from those first 3 years of trading where it seemed like some huge event would happen overnight or on the weekend and my stocks would drop a ridiculous amount as a result. When I tried stop-loss trading, my stock would get taken out by a dip and then rocket out of sight. LOL
As for what I would be happy with, I can seriously say I just want to have a stock go up, and cash out with a solid gain. 5%, 8%, all would be just incredible at this point.
Diversifying is not where I am at right now as I really wish I could just get this 1-4 day thing right. Buy when it’s ready, and sell at a reasonable gain (reasonable=ANY at this point lol).
I bought NYNY out of frustration after the DCN thing. It was a completely irrational buy with no serious reasoning behind it other than it seemed totally oversold due to a hold up with their new casino and the chart looked okay to my novice eye. Basically, I was throwing a dart figuring I couldn’t do any worse. HA!
Well, thanks for taking the time to read this, it’s got to be a downer to do so. I think I am venting as much as anything.
As I mentioned, I have won a national fantasy football title among many others. So, when football season returns, I would be more than happy to offer advice to any fantasy players in the forum in return for all the great information I have received!
Thanks again.

Dude! You really are Tony Costanzo! LOL Luckily for your general "well being" you have a great attitude! And that's what it is gonna take to be successful. Ya learned all bout pain and you can handle it so now I suggest you learn about how to figure out when the markets in general are over valued. And if you waited until now to start "jumping back in" after going through what you went through in 2000-2003 then I would say that you had better learn to use technical analysis TA because it is the only thing that's gonna save ya from yerself! :) Either that or find someone to hire you so you will give them your picks so they can short em. If somebody is paying for your picks and doing opposite of what you say....maybe your luck will turn! :) Jist jokin witcha buddy, hope you have a sense of humor..and it sounds like ya do. Good luck to ya! :)

[BOOOYAHOOO!]

[QUOTE=TheChartGuru]Roy, you making fun of my MA(500) man? lol

I have mentioned the MA(200) and MA(500) so much this week, I've had dreams of the two giant MA's chancing me over the fence. But seriously, that's what I mean about having a strategy for entry and exit. Some traders use RSI, MACD or Stochastics. I prefer to bottome fish, others prefer momentum plays. I believe that you need to decide on what type of stocks to trade, put them on your watch list and trade them. Have faith in your system or don't trade at all. Yesterday I bought DCN and it bit me on the butt today. I didn't expect it to tank like it did over night, but that's part of trading. Lick your wound, dust yourself off and get back on your feet. I traded BMD today and made almost $500. I padded myself on the back and move on to the next trade. No time to celebrate or weep. You must take emotions out of your trading and use stop limits.

TCG, I always say that it is dangerous to use stops. I say it is better to use price points and OBV strategy to know when to exit, even a bad situation like DCN. I hope you don't mind me using your DCN trade to explain why. If you had bought at 3.10 like you did yesterday and set a stop at say 2.85 you would have gotten 2.41 to 2.25 on the open today. If you look at what happened during the morning session you will see that it traded well into my bottom long term buy target range of 2.65-2.95. I think it may have even hit 3.10 although I am not sure since I wasn't going to make a buy move until it retested the 2.25 low, so I wasn't following it all that closely. The point is that knowing where the imortant price points are and watching the negative OBV makes more sense for exit strategies then stops can ever do. All stops do is make you make mistakes! :) BTW, be careful with that BMD thangy, you are working on a stock that just confirmed all trend tops at 7.50ish, made a second consecutive lower nonconfirmed trend low at 6.55-6.40gap, and is now a hair away from confirming the last remaining trend high on da chawt at today's high. That's what appears to be left in this pig BMD, about .25 centavos worth! Do you really think that a stock with the name res...ources in it is going to be a safe haven during da carnage we will most certainly see in da mawkets this coming week?!! Well maybe if resources stands for gold (fear), definitely not if it's an energy pig though. :)

[George Costanza]

Roy, Jeff, Boooya, and TCG, thanks for the welcome and encouragement.

Boooya… Yes, I do have a pretty big sense of humor about it. You really have to in my situation or you will go crazy. LOL
I agree that the markets are currently overvalued, which is yet another reason I was hoping to become proficient at technical analysis trading this time around. The current market environment contributes to my wariness in regard to having money in the market unless I am there to “baby-sit” it. I would think that any major event would start a rather large correction at this point.
Through the years I have actually discussed your idea of having friends invest in the opposite of whatever I do. HA!

Jeff… About the darts, I actually did an experiment along those lines one time. I made several picks using darts, my cat scratching the stock page, etc. and then followed those stocks over the coming months. Apparently my cat is a market genius.

[Pierre]

I don't know about anyone else, but I believe this is the perfect test & set up for Boo & Tcg's analysis and picks...
I will be trading right alongside with the both of ya's...
I figure, a buck and a half sounds bottomy, but it should gap up in pre...
Seems like a sweet opportunity right here, but anxiously awaiting your analysis...
I do agree, we won't know support & resistance until mon morning but am anxious to jump back in...
Not many 10 billion dollar companies out there trading @ a buck and a half...

[oldboldpilot]

Take all of the chart analysis you want ....flying pennants and flags and
candlesticks, the Elliot Wave Theory, crystal balls or turning a Buddhist
prayer wheel and burning incense while chanting mantras but in the FINAL
analysis it still depends upon demand. Who knows where DCN will open
monday; whether there will be a bounce or if it will continue it's decline. Don't know about you but I lived in Reno for 7 years and never gambled....
and sure don't feel like starting now.

[TheChartGuru]

DCN will absolutely bounce to $2 Monday or Tuesday

The Guru has spoken

[oldboldpilot]

Too many times, I have seen a limit order go whizzing by because the
intense volume results in tumultuous action. So there will be a lot of action
in DCN tomorrow but this doesn't mean that your trade will successfully be
transacted. As an example, I had a limit order placed for MSEV friday....and
the limit was met, exceeded and the transaction never took place because
it all occurred in seconds. DCN may well bounce and I hope it does but
bouncing and CATCHING the bounce can be tricky.
MSEV touched .092 friday but if I had a buy order in at this price, do you
think the order would have been filled ? I was sitting in front of my screen
and never witnessed the trade that took MSEV down to that level so how
fast do you think it all occurred ?

[xboilermaker]

I have had streaks where every move was wrong also, but you just have to keep on trying to do better. I have found that my biggest mistakes are made when I try to act quickly and don't take long enough to think about and observe the trade long enough. there always seems to be two or three that I want bad for each that I drop, and sometimes adrenaline and emotion takes over. For a few days, I have been wanting DPBM, and .50 was my entry, so I was hoping for the insight from the smart people here on grabbing about $2000 worth with mad money. One thing for sure, sunken treasure is the ultimate gamble. Or would I be better off keeping all my PRLS instead of gitting rid of half. Oh, and talk about luck George, I had 200 WTZ for over a month and sold Thursday before the close. How's that for luck?

http://www.tradersnation.com/dpbm.shtml

[George Costanza]

Shoot, that sucks... I can certainly sympathize.
I have been trying for some time to take emotion out of the equation. Taking into account that I may just be in denial and generally numb to my inability to make a correct choice, I think that I have gotten much better of late in that respect. This week will give me a better idea of where I'm at.
With this in mind, I'm ever the foolish “damn the torpedoes” optimist and look forward to a profitable week.
Let's all have a great week!

[BOOOYAHOOO!]

Roy, Jeff, Boooya, and TCG, thanks for the welcome and encouragement.

Boooya… Yes, I do have a pretty big sense of humor about it. You really have to in my situation or you will go crazy. LOL
I agree that the markets are currently overvalued, which is yet another reason I was hoping to become proficient at technical analysis trading this time around. The current market environment contributes to my wariness in regard to having money in the market unless I am there to “baby-sit” it. I would think that any major event would start a rather large correction at this point.
Through the years I have actually discussed your idea of having friends invest in the opposite of whatever I do. HA!

Jeff… About the darts, I actually did an experiment along those lines one time. I made several picks using darts, my cat scratching the stock page, etc. and then followed those stocks over the coming months. Apparently my cat is a market genius.

GC, if you actually get your friends to put real $$$ on your picks and it turns out as I said it might....then your jinx will be over, you will start making a ton of money on yer picks, but you will lose all of your friends. Is it worth it? HELL YEAH!!! LOL Anywho, you may as well learn how a bottom is formed while you are waiting to find out if this is a top in da beneral mawkets. So why not start tracking DCN using the indicators DMI and OBV starting as of yesterday on the 10 day, 20 day, and longer term chawts. I think we will know how close this is to a bottom soon for DCN. You may as well start trackin the ole indicators to see what ya come up with, and see if you can spot some chart trends that might carry forward into other stocks under similar duress in da future. Then jist turn DCN's chawt upside down and you'll have a good ide what a top looks like! Neat huh? :)

[BOOOYAHOOO!]

I don't know about anyone else, but I believe this is the perfect test & set up for Boo & Tcg's analysis and picks...
I will be trading right alongside with the both of ya's...
I figure, a buck and a half sounds bottomy, but it should gap up in pre...
Seems like a sweet opportunity right here, but anxiously awaiting your analysis...
I do agree, we won't know support & resistance until mon morning but am anxious to jump back in...
Not many 10 billion dollar companies out there trading @ a buck and a half...

Well, I'm basing whether or not this thing runs to 4.20 right now all on what da chawts at PCQuote.com say after they settle out. Many times in a frenzy up or down like that you won't get a true reading until the charting software can accurately digest da data, it is only a machine afterall. :) Right now PCQ doesn't even show a low of 1.51 for DCN. Like I said, the selling was unprecidented, cep't fo maybe Enron but at that point we knew what was gonna happen to it as a company :) Anyhoo, even right now the DMI indicator at PCQ looks like it has the ADX line in a position where it may actually miss hitting the 60 line when it sets up. If the next time I see da chawt at PCQ and it says the low of 1.51 doesn't need to go then I'm hangin in there for much bigger gains longer term. Da bad news is that PCQ chawts go on da fritz quite often so I may not see da reading for anywhere from 50 minutes after da mawkets open until this time next week! LOL The chawt at Bigcharts.com does not say that the 1.51 low needs to go so that's a positive. We shall see. I'm excited! and I'm down 15%+ on both of my last 2 buys! Ahhhh, the advantages of being a happy idiot when trading stocks. :)

[BOOOYAHOOO!]

Too many times, I have seen a limit order go whizzing by because the
intense volume results in tumultuous action. So there will be a lot of action
in DCN tomorrow but this doesn't mean that your trade will successfully be
transacted. As an example, I had a limit order placed for MSEV friday....and
the limit was met, exceeded and the transaction never took place because
it all occurred in seconds. DCN may well bounce and I hope it does but
bouncing and CATCHING the bounce can be tricky.
MSEV touched .092 friday but if I had a buy order in at this price, do you
think the order would have been filled ? I was sitting in front of my screen
and never witnessed the trade that took MSEV down to that level so how
fast do you think it all occurred ?

MSEV is an OTC dawg I believe, isn't it? That's a whole different ballgame but even with Naz stocks, if the axed doesn't hit your limit price target then you aren't going to get filled. The even worse news is that if you place a stop limit above a stock and it's actually going higher your limit won't get filled until da bid hits your price.....but you will definitely get filled at da axed if da stock starts tanking right from your entry point :)

[Damon]

DCN will absolutely bounce to $2 Monday or Tuesday

The Guru has spoken
Well, it's up over $2 this morning in the pre-market, so we'll just have to see how the day goes. I'm rooting for everyone in this thing.

P.S. - I bought 1000 shares @ $1.65 after hours on Friday. http://www.cramersmadmoney.com/images/icons/icon10.gif

[Pierre]

Not to jump the gun... it's only pre market, but my take...TCG & Booyahoo are now the absoulute wizards on this board... Cramer who?
Nobody else comes close...

[BOOOYAHOOO!]

I'm showing a 40%+ rise in PM trading. My plan will once again be to play it safe and bank the gain on da chit I bought at 1.82 on any rally to or through 2.25, and then I'll hold da junk I bees bought at 2.33, jist fo da halibut! :)

[BOOOYAHOOO!]

I'm showing a 40%+ rise in PM trading. My plan will once again be to play it safe and bank the gain on da chit I bought at 1.82 on any rally to or through 2.25, and then I'll hold da junk I bees bought at 2.33, jist fo da halibut! :)

Oh yeah, mo clues on "how to play it" :) The opening move looks like it will be strong enough to form a price top and possibly put DCN into buy mode from sell mode. In udder woids, whatever the opening high is, there is a better than 50% chance it will be taken out with a higher high before the 1.51 low gets retested, if it gets retested which I said was still unclear. But we shall see! :)

[BOOOYAHOOO!]

Still holdin even as it trades at 1.96 off da 2.22 high. I'm gonna shoot fo da bottom of me entry tawget range and set a sell at 2.65 for all but 50 shares. 50 shares will go a looooong way in da looooong term if this thang be bottemin, and if it isn't....wit a nice profit like this on 2 trades like I would gots....who shivagits what happens? Right? Worry-free investing, learn it! live by it! *-)

[Damon]

Out @ $2.17 just after market open for a $500 gain after commissions. Not bad for a day's work. http://www.cramersmadmoney.com/images/icons/icon10.gif

[BOOOYAHOOO!]

Hmmm, no signal on da chawt that the 2.22 high needs to go, and it still remains in sell mode. So thangs didn't toin out as positive as I had hoped. Now at 2.07 off da 1.84 low. I hates times like this cause now I gotsta decide instead of not even worryin bout thinkin bout it! :) I'll tell ya's what I decided to did.

[stockviper]

Nice Ridin' Damon! Everyday should be like that!

[BOOOYAHOOO!]

Bastages! Traded to 2.13 so I set a stop at 2.05 which I thunk would be safe. But they gots me! :( Dats OK cause I'm gonna kick this POS's a$$$!! OK, so me trade wasn't as astute as sumbody who bought in Fri at say 1.65, saw the PM rally, came back to tell us bout it, and then sold at 2.17 this moanin! :) But like I jist said, I'm gonna kick its a$$!!! LOL Now at 2.08 and probably on its way to pissin me off by rallying to 2.65! Watch! LOL

[Damon]

Nice Ridin' Damon! Everyday should be like that!Thanks. DCN was prolly my most profitable (day) trade yet. Trades like this one sure help to ease the pain of my IESR fiasco - that one still stings a bit.

[Damon]

Bastages! Traded to 2.13 so I set a stop at 2.05 which I thunk would be safe. But they gots me! :( Dats OK cause I'm gonna kick this POS's a$$$!! OK, so me trade wasn't as astute as sumbody who bought in Fri at say 1.65, saw the PM rally, came back to tell us bout it, and then sold at 2.17 this moanin! :) But like I jist said, I'm gonna kick its a$$!!! LOL Now at 2.08 and probably on its way to pissin me off by rallying to 2.65! Watch! LOL

Just dumb luck, Boo. I only bought in a/h Friday because of the EXTREME sell off late in the day and because I'm somewhat familiar with Dana's products. I only picked $2.17 as an exit because it gave me a nice round $500 gain after commissions (of course good ol' Uncle Sam gonna take his cut o' my profit).

[BOOOYAHOOO!]

Just dumb luck, Boo. I only bought in a/h Friday because of the EXTREME sell off late in the day and because I'm somewhat familiar with Dana's products. I only picked $2.17 as an exit because it gave me a nice round $500 gain after commissions (of course good ol' Uncle Sam gonna take his cut o' my profit).

Well, if ya bees worried bout payin taxes on yer profits may I suggest you plow yer winnings from DCN into MSEV which happens to be on its way to $400 before it sees .05!!! Tawk like dat usually means it's on its way to .05, so by buying MSEV now you will have more than enough loss to cover yer DCN gain if ya hold to .05!! Sound like a plan ta you? :)

[stockviper]

Bought 200 yesterday @ 2.13 and another 200 today at 1.74. Can't wait till tomorrow!!

[Damon]

What do you expect to happen tomorrow?

[BOOOYAHOOO!]

What do you expect to happen tomorrow?


Well, the writing was on da wall as of yesterday so I hope you paid attention to what I said. I am hoping for a buy signal and then anudder gapdown belwo 1.50 that generates a wave of selling like we say on Fri. All the way to like .95 centavos would be nice! Doancha think? I sho do! :)

[Pierre]

Good call, Boo... I'm in at a buck, either thurs. or fri. No reason why it can't get there...
What a country, when you can get a share of Dana for 4-6 quarters... When I was a teenager and into cars, I would give my left testicle for a Dana axle...What a country!

[Kevin Wong]

Thanks. DCN was prolly my most profitable (day) trade yet. Trades like this one sure help to ease the pain of my IESR fiasco - that one still stings a bit.

I"m still in IESR and I'm finally about 40% profitable. It got really scary when it hit the .30's....errr....20's.

[BOOOYAHOOO!]

Good call, Boo... I'm in at a buck, either thurs. or fri. No reason why it can't get there...
What a country, when you can get a share of Dana for 4-6 quarters... When I was a teenager and into cars, I would give my left testicle for a Dana axle...What a country!

DCN is also showing a ton of neggy OBV so it could just as easily break below 1.50 and hold 1.49, 1.35, or anywhere else on the way down to 1.00. It can make a turn jist like anudder one that was in dire straits did, IIG. It hasn't bottomed out yet. I'm hoping DCN does cause I hates ta have to come all the way back and do it agin...da right way. To save time I am posting my opinion on DNTK here, I'll sell if it get to .45 before it gets to .33.

[Damon]

Wow. DCN down 25% to $1.38 in after hours today. Wonder what that's all about.

[Damon]

Nevermind. Here's the scoop:

Auto & truck parts maker Dana misses bond payments
Wed Mar 1, 2006 5:28 PM ET
NEW YORK, March 1 (Reuters) - Dana Corp. (DCN.N: Quote, Profile, Research), a struggling auto and truck parts maker, said it failed to make $21 million of interest payments that were due Wednesday on two senior bond issues.

http://yahoo.reuters.com/stocks/QuoteCompanyNewsArticle.aspx?storyID=urn:newsml:re uters.com:20060301:MTFH78834_2006-03-01_22-28-49_WEN1951&symbol=DCN.N

[Pierre]

Good call Damon... this is the next play, had my eye on this one and Bcon all day... Looks like Dana might hit Boo's target of .90 ish... Might see a repeat of last week's panic selling, maybe thurs. afternoon, although, I'd rather buy just before close on fri... Big announcement next week regarding restructuring!

[mhertz]

seems like a good strategy -- looks like it has far from bottomed-out. wait to get in around $1.00 then you should be safe for some hefty profits.

[stockviper]

DCN is back as DCNAQ and at .83 as I type this. Go Dana!