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View Full Version : ABK possible strong upmove soon

gferrets
08-13-2008, 07:53 PM
I have been closely watching this stock recently, and it looks like it may have possibly bottomed out. It could definately move lower down to the 20 day moving average, but it could also make a sharp move up very soon. I was watching USS for the past week, and that shot up over 50% yesterday. Would have been nice if I bought. Anyways, might want to keep this on your watchlist. Chart is looking pretty nice, with two dojis.
john_for_u80
08-13-2008, 08:05 PM
I have been closely watching this stock recently, and it looks like it may have possibly bottomed out. It could definately move lower down to the 20 day moving average, but it could also make a sharp move up very soon. I was watching USS for the past week, and that shot up over 50% yesterday. Would have been nice if I bought. Anyways, might want to keep this on your watchlist. Chart is looking pretty nice, with two dojis.

http://stockcharts.com/h-sc/ui?s=ABK&p=D&b=5&g=0&id=p29735565936

Agree! If you get in try and buy small at the start with stop loss(you can afford).

I would say buying above 4 with stop loss below it. May be you can get stopped out but then you are in small position so you can buy back some more if it holds above 4.00 :)

On hourly chart it is in a squeeze, so it might go either way.

I would also like to see what others think about it.
jmarkd59
08-13-2008, 10:11 PM
I like the way ABK has held steady at the $4 level these last two days that XLF and UYG have taken hits. I do see the XLF broke down today below the short-term support level of $21. I got into ABK with 300 shares way too early, i.e., on the way down from the recent pop. Should have waited until a support level was established. Stupid mistake but I'm counting on a re-run up and the opportunity to make some money.
wallstreetsedge
08-13-2008, 11:38 PM
i agree that it can go either way...

you cant short it so downside is unlimited...

the only play would be upside which would be to 4.50 but imo isnt worth the risk
HOTROCK
08-13-2008, 11:44 PM
Im in for 1000 shares at 1.81 HOTROCK :mrgreen:
gferrets
08-13-2008, 11:59 PM
WSE, why would you say the only upside possible is only to 4.50? It looks like it could go much higher from what I see on the graph. Please explain yourself. I was looking for a gap up tomorrow morning and a possible move back above 5.
gferrets
08-14-2008, 11:00 AM
There she goes. I'm looking for an entry point.
MaryKay1965
08-14-2008, 11:19 AM
I have been closely watching this stock recently, and it looks like it may have possibly bottomed out. It could definately move lower down to the 20 day moving average, but it could also make a sharp move up very soon. I was watching USS for the past week, and that shot up over 50% yesterday. Would have been nice if I bought. Anyways, might want to keep this on your watchlist. Chart is looking pretty nice, with two dojis.


Very nice call, gferrets.

Currently up 11%
pedrom727
08-14-2008, 11:25 AM
Technicals are looking good here, the stock ran from $1.71 to $5.85, retraced 50% and now looks to be heading back up. MACD looking good and I think it could hit $6
gferrets
08-14-2008, 01:37 PM
Got in this morning at 4.30. Move baby, move!! Now if it could only get to 6 again. Anyone else in for the ride?
john_for_u80
08-14-2008, 03:42 PM
Got in this morning at 4.30. Move baby, move!! Now if it could only get to 6 again. Anyone else in for the ride?

Woke up 10 mins after market opened. Wanted to catch just above 4 but then it reached 4.25.
anyway, got into some other trades!
john_for_u80
08-14-2008, 07:26 PM
MBIA, Ambac insurance off downgrade watch -S&P

Up AH
gferrets
08-14-2008, 07:35 PM
wow. really moving up nicely after hours. looks like it could be a good day tomorrow, now with both fundemantal and technical positives. shorts could be in a major panic tomorrow. i don't think this stock is done moving yet. could be a beautiful day.
mlegha1
08-15-2008, 11:06 AM
Great call seems like it flew pass WSE resistance $4.50 in a hurry!
JayIV
08-15-2008, 03:46 PM
now what will happen on monday i wonder?
gferrets
08-15-2008, 03:57 PM
I don't know, and don't really care. I got out this morning at 4.45. I wish I would have held on. My original exit strategy was to get out at 6, but I expected it to happen over another day or two. I took my 25% profit over 2 days and ran. There is resistance at 6 though, so I suspect it will decline on Monday. Who knows though.