GLW: Finding a Bottom with nice Hammer today ??

[discrat]

A solid Company that posted really good Earnings last week. Just a little light on
future Revenue Guidance which seems to already be "baked" in the price.

Today Stock shot down at open on heavy Volume. But after about 10am it reversed and continued up and nearly closed at its high for the day. Looks like it was the last of the selling capitulation. Sellers are evidently drying up
Should see $21 in the next day or two.Then back on up to 50 day MA of
$23.03 !!!!

[mlegha1]

Looks like a reversal, I hope the market is not negative tomorrow as it has been on Fridays.It is on my watchlist..

[TheChartGuru]

Let GLW find it's true bottom, by waiting for a consolidation stage like it did in early August. MACD is improving and RSI(10) is still oversold, so $19-$20 appears to be the support.

The Guru has spoken

[clavocat]

Let GLW find it's true bottom, by waiting for a consolidation stage like it did in early August. MACD is improving and RSI(10) is still oversold, so $19-$20 appears to be the support.

The Guru has spoken

im gettin in this one when i see the bottom and a bounce, guru u hit this stock pretty much on the head before when i wanted it but it didnt go quite to 16...this baby will run when the time comes.

[discrat]

Yeah,
You may be right. But then again we may have already began the bounce.......
I am willing to forgo a little risk for a potentially really good reward by entering now. Ill put my stop tight at $20 !!
I have a strong hunch we go up from here. Fridays movement was really positive considering the Mkts were down. And the RSI says we are way oversold.

See you back at $25. :)

[clavocat]

not "way" oversold but watch out because friday was a selloff after a gap up, it doesnt matter what the gap is it matters if it was a selloff or a buying day, imo id wait another day.

[clavocat]

Yeah,
You may be right. But then again we may have already began the bounce.......
I am willing to forgo a little risk for a potentially really good reward by entering now. Ill put my stop tight at $20 !!
I have a strong hunch we go up from here. Fridays movement was really positive considering the Mkts were down. And the RSI says we are way oversold.

See you back at $25. :)

if u put your stop at 20 there is no support there really, it will hit it and go to say 19.50 and then will be supported, you cant just put your stop at a random place especially when your willing to take some risk. this thing will go back up, its just it may go down more so dont let yourself get stopped out if your waiting for it to fill the gap.

[discrat]

" you cant just put your stop at a random place especially when your willing to take some risk. "


My Stops are NOT put at random places. In all due respect, you ought to think before commenting and writing about about someone else's trades. And not just make assumptions !!

My Stop at $20 was implemented because of a certain predetermined monetarily loss I am willing to risk at that level. The loss is based on my trading lot size taken with this trade and a percentage drawdown I am willing to risk. And $20 is the specific price of the max drawdown I am willing to take on in my trading equity with this particular trade.


No randomness here !!!!
Thanks


.

[bahroor]

" you cant just put your stop at a random place especially when your willing to take some risk. "


My Stops are NOT put at random places. In all due respect, you ought to think before commenting and writing about about someone else's trades. And not just make assumptions !!

My Stop at $20 was implemented because of a certain predetermined monetarily loss I am willing to risk at that level. The loss is based on my trading lot size taken with this trade and a percentage drawdown I am willing to risk. And $20 is the specific price of the max drawdown I am willing to take on in my trading equity with this particular trade.


No randomness here !!!!
Thanks


.
hey, take it easy buddy..
you can put your stop at 20.50, 1 cent below friday's close and still no one would care.

i think clavo's point was your stop loss doesn't give you much room to fluctuate. no need to get all angry

[discrat]

"hey, take it easy buddy..
you can put your stop at 20.50, 1 cent below friday's close and still no one would care."

Ha man, no reason to be crass or flippant about it labout it all ! :)

I think when I used the phrase "in all due respect" I was taking away the anger factor and just trying to get the point across.

So in all due respect to you I disagree that I was being angry ! ;)

Thanks

[discrat]

" if u put your stop at 20 there is no support there really, it will hit it and go to say 19.50 and then will be supported, "


Also, Clav Please expound a little about the above. I am not saying you are wrong and I am right. But if you make assertions about why or why not there will be support , resistance , selloff, gap up etc..etc.., then have a little bit of more specific information to support it and explain why..

This stock may well go back to $19.50 but I am betting on the odds that it is going in the other direction . This based on my belief that RSI is under 30, MACD is starting to curl upward, and there has been numerous data that points to some big name institutions slowly starting to Accumalate this thing and wanting to prop it up.
Plus, the fact that it has great fundis doesn't hurt the chances of it going up either !! JMHO

But it will be interesting to see.
Good luck !!!

[clavocat]

" if u put your stop at 20 there is no support there really, it will hit it and go to say 19.50 and then will be supported, "


Also, Clav Please expound a little about the above. I am not saying you are wrong and I am right. But if you make assertions about why or why not there will be support , resistance , selloff, gap up etc..etc.., then have a little bit of more specific information to support it and explain why..

This stock may well go back to $19.50 but I am betting on the odds that it is going in the other direction . This based on my belief that RSI is under 30, MACD is starting to curl upward, and there has been numerous data that points to some big name institutions slowly starting to Accumalate this thing and wanting to prop it up.
Plus, the fact that it has great fundis doesn't hurt the chances of it going up either !! JMHO

But it will be interesting to see.
Good luck !!!


trust me ill be in it on its way up...BUT, there is no foundation for your stop, thats my opinion, its a good stop place if it keeps rallying up but if it goes back down to test support youll be stopped out for a loss as it goes back up, i didnt explain myself thourghly because i was in a hurry...if your in it and dont mind taking a short term loss, why not put a stop lower where there is support so if it takes a turn for the worse your out but if it tests you'll still be in for the rally to fill the gap thats what i meant, or...wait another day for confirmation where there isnt selling volume...glw could have sold 100 shares at 20.66 where it opened up about a percent, then as the day went on it sold off to 20.51, throughout the day it was going down just the initial gap made it go up. black candles are not a good sign in an uptrend, they have a tendancy to show tops or weak rallys IMO. do as you will and good luck

[discrat]

Nice Movement on over 70% avg.daily volume today !! Yesterday showed a nice morning Doji !!
Stock being snapped up by the BIG BOYS as I suspected. Should continue thru Holidays........We still have a long way to go before she stops.
Stock was oversold on solid earnings. Look to get back up to $25 by December.......

[TheChartGuru]

GLW is setting up to go much higher. It is easily going to fill the gap at $23

http://stockcharts.com/h-sc/ui?s=glw&p=D&b=5&g=0&id=p41250103913

The Guru has spoken

[discrat]

Wow, down over 2% today. Starting to rally a bit towards bell. But a disappointing movement today with a positive market. Looked promising after yesterdays strong move on heavy volume !!

The only good point is that Volume is avg.today so the big boys arent dumping.
Lets see the next two days !!!

[Svenwulf]

been watching this one. i am thinking of buying near 18. looking at an xmas angle. still digging.

[clavocat]

im suprised this thing has been goin down still, it was up 3% aftermarket but fell, another reasone after/pre market is garbage, wait till round 18-19 to get in, ill be in it.