CNR is ripe for a really good bounce

[TheChartGuru]

Lots of oversold stocks out there. I think CNR is ripe for a really good bounce(10%+) tommorrow or Friday. STTK is holding steady and BSLM may be up to something (lots of candles with long tails). BCGI is forming a base. CBAY looks like it is about to breakout. Sorry Mad girl, I know you sold it. Buy it if it dips in the low .20's again.

The Guru has spoken

[madcowdisease]

Guru, do you anticipate a larger than usual lull in your picks based on the fact this market is so crummy? It seems logical that the general sentiment is negative and buyers will be few and far between.

[Luc1Grunt]

TCG, I've had CNR on the watch for over a week. Amazing how this little guy can continue to burn into the bottom without a rebound. It has failed to remain positive each day. I believe you're right, it is due for a pop, but the head fake may swallow many if the market drives it further.

Don't know if you have tweaked your scans for bottom feeders, but I've moved all of mine to filter anything below about 2-4 million shares traded. Have not been able to do that for quite a while, but this market is pouring the stocks into the filters like the flooding in the northeast!! Luc

[Mad Girl Investor]

I too have been watching CNR..it was a nice chaneller until q1 hit and it broke support.

I will be back to CBAY..its my personal puppy...gonna make me some more money, I can just tell :)

[TheChartGuru]

I currently have a watch list of over 100 stocks between .30 and $5, so I narrowed my oversold list to those stocks that have volume over 500,000 and that the RSI(14) is below 19. Then the list narrows considerably. These are the stocks that the filter spit out. DOVP, GNTA, CNR, THLD, OSCI, WSTL, CRGN and I'll throw in MAG, although it has a volume of 325,000.

The Guru has spoken

[Luc1Grunt]

I've got MAG, CWPC, OSCI, BIPH, and SIRI (for fun)........such heavy volume and volatility, I may play it for a short momentum (intraday).

NFI and STP on the fatter cats.

Opening will tell the tale and I see STP has already jumped $3 in pre-market. Dammit, should have pulled the trigger at yesterday close (banging head against wall).

CNR may take a nother nose dive before it gets some scrambling, Luc

[TheChartGuru]

CNR formed a really nice hammer with a long tail in the oversold area. I expect a huge bounce tomorrow. Scrape up some loose change from under the sofa cushions and buy some tomorrow
IMHO

The Guru has spoken

[cnelson]

I picked up a smidge today at .73. I'd be thrilled with 10%. And another great day for CBAY! I took 1/3rd off the table at .34 and now I'm playing with the house's money. Hoping this little stock can get up to .50!!!

[teno4212]

Huge being about 30%, right? I will try to get in at .76 I think

[teno4212]

as a side note- I find it funny when I look up your picks in the barcharts opinion box at the upper right and it says 100% sell.. then it goes up 20% or so.

[Katibel]

I learn so much from you guys/gals in these threads....even if it is just verbage sometimes. A million thanks again!!!!


Cheers,
Kati

[Luc1Grunt]

That same hammer has formed over the past week (daily). Same as OSCI, MAG, CWPC and several others. Watch the opening and look for strength till a bout noon. Each have "sold off" with the market then pull a quick spike at the end of day. There are many who want in with the low prices, but the big volume spikes are sells, not buys.

These will rebound, but in the face of a declining market...how long can you wait and how low can your tolerance go?? That is up to you to decide.

Just my words of "caution" folks........I play bottom feeders as about 50% of my trades and they are good picks.....but the market forces don't care about the indicators at times. My 2 cents.

Also, if and when they make a big jump, better have your exit plan well thought. If this correction holds true, it will bounce then continue a decline. Do your homework. Happy trading.

[Pierre]

Oh Oh... that means we already had the bounce yesterday...
One thing I know for sure...
1. We rally big time today...
2. We stay flat today...
3. We decline big time today...
Make your choice and go with it... as for me I'm almost all cash again and will look for a clear sign that I can sell everything... then I'll be totally in cash and I'm just gonna sit on it, probably go into CD's or a good money market...
Either way, I'm eagerly awaiting to jump back in...

[Luc1Grunt]

They did not bounce yesterday (or the days previous), that is my point. Pull the 3 mo chart and watch the stochastocs/ma's, RSI (insert time period here), whatever indicator you choose. I've cleaned a couple intraday, but that has been for 2 and 3 cents for meager little profits.

[Luc1Grunt]

Well, I couldn't stand it anymore and jumped into MAG at 1.29. We'll see if this booger has any spring to it's step for the short term. Don't really know how much lower it can go. Do your own dd and watch it like a hawk if that is your pleasure. Still a good company that is being treated like a baby treats a diaper. :(

[TheChartGuru]

CNR, looking for support and hopefully a bounce at .65

The Guru has spoken

[computeraces]

OR... it could be a falling knife.
http://quote.barchart.com/texpert.asp?sym=cnr

[TheChartGuru]

OR... it could be a falling knife.
http://quote.barchart.com/texpert.asp?sym=cnr


I have been known to be a contrarian :)
If there has ever been an oversold play that is due a big bounce, that would be CNR. IMHO

The Guru has spoken

[clavocat]

OR... it could be a falling knife.
http://quote.barchart.com/texpert.asp?sym=cnr


WHOAAAAAAAAAAAA did you just question the GURU?!?!?!?!??! no one does that, you could get banned. haha

[bahroor]

should see $.50 soon

JMHO

[TheChartGuru]

Up nicely today and currently at .85 in AH!

The Guru has spoken