ION getting close to a reversal

[TheChartGuru]

Getting close to a reversal

529

The Guru has spoken

[Jordan]

Down to .37 now

[metalheadrr3]

It's getting closer then

[bahroor]

This thing will EXPLODE soon.

[Panthalis]

This thing will EXPLODE soon.

Granted I can see that it should go back up soon, but explode? Wouldn't it need some really good volume? And the volume so far appears to be pretty poor...

[bahroor]

Granted I can see that it should go back up soon, but explode? Wouldn't it need some really good volume? And the volume so far appears to be pretty poor...

right, which means the selling is drying up, and by "explode" I meant a run to about .50, which comes out to a 25% gain.
I'm not saying this will move tomorrow (although it might), I'm saying it's close.

Frank, what do you think??

[TheChartGuru]

right, which means the selling is drying up, and by "explode" I meant a run to about .50, which comes out to a 25% gain.
I'm not saying this will move tomorrow (although it might), I'm saying it's close.

Frank, what do you think??

It has found support at .36 and has formed 2 long tail hammers/spinning tops. It is way oversold and should bounce in a day or two

The Guru has spoken

[clay]

This thing just still hanging around .40. Any thoughts.

[TheChartGuru]

This thing just still hanging around .40. Any thoughts.


It formed a doji today. This could be the reversal signal. It may test .36, but it looks like it has bottomed out, at least for a short term bounce.

546

The Guru has spoken

[Hankster4664]

I am pretty new at all this, but have done some pretty extensive research on technical chart analysis and I must say that it doesn't get more "classic" than this. Two hammers with small upper shadows followed by a clearly long legged doji. A bullish engulgng tommorow would make it a text book reversal. I guess the trick is to get in with a limit buy as close to the bottom of todays lower doji tail as possible in an anticipation of the bull engulfing.

If I am not reading this right, please add your comments, but it looks pretty good to my novice eyes.

[hellostocks]

in at .38

[gatorboy2424]

im in at .38

[gatorboy2424]

starting to climb, looking good

[bahroor]

this thing needs some voluuuuuume and it will move..

[gatorboy2424]

look like it has found some support, volume should come

[bahroor]

dumped it today with a limit order of .41 that took ALL day to clear with this volume (or lack of). It was dumping a 100 shares at a time, and to piss me off, it left me with a 100 shares at the end of the day (a $40 value)!!

Anyway, I'm getting out with a minimal gain here. Didn't move in the time frame I had in mind. My exit here might be premature, but I'd rather have my money elsewhere.

Before the selling volume came in.. look what it did the past 3 months...
http://bigcharts.marketwatch.com/charts/big.chart?symb=ion&compidx=aaaaa%3A0&ma=2&maval=9&uf=8&lf=2&lf2=4&lf3=1&type=4&size=3&state=0&sid=2360980&style=350&time=6&freq=1&nosettings=1&rand=2275&mocktick=1
traded flat for 3 months straight with little volume also... I was expecting that to continue but not until it pops to the .50 range.

Anyway, GL to all you longs!

[gatorboy2424]

i got out at .44, i might jump back in if it dips below .39

[gatorboy2424]

look at it go now... .47

[bushidosoul]

wow you guys really know your stuff it closed at .50

[tigerlam92]

Awesome day!!

Cheers
--Hugh

[gatorboy2424]

ahh i wish i didnt drop it

[bahroor]

wow, just saw this... congrats to all that held... i had a feeling i was being impatient.

[mightymouse]

ahh i wish i didnt drop it

You can add me to that list as well...although money missed out on is still better than money lost...and now we're that much wiser (hopefully a lesson learned!) because of it!

[TheChartGuru]

Sometimes stocks take off after a reversal signal, other times it takes some time. ION's reversal signal was the doji or Harami on 12/11-12. Then it consolidated and finally shot up 5 days later. Notice the short term MACD(6,12,6) that I use as an early warning to the MACD(12,26,9). See the Histogram bars are getting smaller in the oversold area, then actually turn positive although the price is going sideways? That is positive divergence! That is the absolute reversal signal. I expect ION to go higher at least 1 more day. Maybe another double digit gain. It's already up over 20%, so don't be a hog.

http://stockcharts.com/h-sc/ui?s=ION&p=D&b=5&g=0&id=p09745430750

The Guru has spoken

[Damon]

Almost pulled the trigger to buy at .46, but chickened out. That would have been a nice Christmas bonus. Still holding WJCI and INSM, though. <kicking self>

[bahroor]

this would be a good time to have a "kickin' myself in the butt" smiley.

[manowarfan1]

this would be a good time to have a "kickin' myself in the butt" smiley.
Agreed on the kicking self in the butt smiley - I got out of this one at 10% after commissions - certainly no complaints about that (even though it is riding higher today) - but I am still holding a couple of doggies (AVNR is sucking the life out of me - jsut waiting for a little bump up to minimize what I can of the loss) - and something like a 20-30% gain on some of these like ION make it a little easier to stomach the losers :)

jeff

[TheChartGuru]

Almost pulled the trigger to buy at .46, but chickened out. That would have been a nice Christmas bonus. Still holding WJCI and INSM, though. <kicking self>


INSM will be next, then WJCI. Patience

The Guru has spoken

[Damon]

Thanks for the reassurance, Frank. Lucky for me, I've got more patience than money.....especially around this time of year. ;-)

[TheChartGuru]

BTW, how many people owe me a steak dinner?

The Hungry Guru has spoken

[Damon]

You've got to let people know what your favorite steakhouse is and where to send the gift cards. http://www.cramersmadmoney.com/images/icons/icon10.gif

[Tuxguy]

Is anyone still holding this stock????? Look at the jump yesterday
655

Ion Meida Gets Tender Offer
Thursday January 18, 5:39 pm ET
Ion Media Gets Offer to Be Bought From NBC Universal and Citadel


WEST PALM BEACH, Fla. (AP) -- Ion Media Networks Inc., a broadcast television station owner and operator, said Thursday it received a proposal to restructure its preferred and common stock that would result in a tender offer for outstanding common stock.
ADVERTISEMENT


The proposal came from private equity group Citadel Limited Partnership and NBC Universal Inc., which is owned by General Electric Co. and has an option to buy Ion preferred shares held by the company's founder. That arrangement was made in November 2005, when NBC Universal and Ion -- which was then known as Paxson Communications after founder Lowell Paxson -- ended an agreement.

The tender offer for the common stock would start on the Federal Communications Commission's approving a transfer of NBC Universal's option for the preferred shares to Citadel, or May 6, whichever comes first. As of Wednesday, the offer would be for $1.41 per share.

The Ion board must approve the proposal, which is nonbinding.

Ion Media shares added 40 cents to end at $1.02 on the American Stock Exchange. They have ranged from 36 cents to $1.03 over the past year.

[Tuxguy]

Since nobody replied I guess everyone sold and missed out

[mightymouse]

After the huge move up to .67, I got out-never would've thought for a second that it would go past $1.00 within a month!

[Tuxguy]

Thats what news and a merger can do out of nowhere. But this is the man part to look out for now. ""The Ion board must approve the proposal"

[Rich]

Makes me want to just turn my money over to you guys and come back in 10 years!!! These are doing so much better than my worthless brokers did. Wow, now that I think about it, this sounds like Jesus's parable! Ok, who is going to bury my $$$ leave the room :-)

http://gardenofpraise.com/bibl52s.htm for those who don't know the story.

Rich