Monday, October 19, 2009

Monday interim update

From this past weekend's blog there were two possible scenarios; either the Daily and Weekly charts would trigger Sells to go along with the Intra-day chart Sells, or the Intra-day Sells would flip back to Buys. As the 60 minute chart below shows, it was the latter:

Here is a Daily chart for perspective:

With the Elliott Oscillator still making lower highs while the SPX makes higher highs, the expectation (read:forecast) is for ultimate failure of this rally, a break of the bottom channel support and a free fall decline into the end of the year.

For now this rally continues, but this pattern does not have a happy ending.



Unknown said...

how about a Monday interim update on NNVC..VFIN and NITE are slowly hitting every bid...are there no more people (sheep) willing to pay an 80M mkt cap?

Anonymous said...

Yeah, I'm holding NNVC for the long haul but I'm trying to figure out where the bottom might be so I can add to my position and lower my cost basis.

What might our charts tell us?


Anonymous said...

Why NNVC is trading at Deutsche Boerse? I noticed that most of US penny stocks trading at foreign stock exchanges will eventually go bust. Hope it wont happen to NNVC but I really dont understand why they trade outside US markets? If they only improve their public relations and be more active on their WEB site, their share price might look much better.

Look at this :

US6300871042 XETRA 0.000
07.07. 17:37

FRA 0.384 -0.06
-13.90% 19.10. 09:14 0.345
0.445 -24.92% -8.04% -15.85%

I didnt buy this stock yet but I keep my fingers crossed for its and Allans success.

Anonymous said...

Many of these penny stocks do go belly up. Hope this one does not and break everyone who has invested in it. That risk is real.

T said...

Bernard,I did a comprehensive technical analysis of nnvc last week and wrote my post about it somewhere in one of these recent threads.
What I saw was a current correction now in the process of completing the 5th subwave the area of 54-62. Further down is a Critical support around the 50 area....but the current wave 5 to complete, I was looking for it to hold somewhere between 58 and 60 area,and wont get too nervous if it goes as far as 54-56.

Timing wise,it could finish and reverse anytime now to begin a good wave up.
But I also think the general state of 'all markets' is overbought and a big correction,like what Allan is expecting,if it happens could impact any strong upward movement for nnvc at this time.
So a reversal here at 60 might hit resistance at 80 and trade in this range for the coming months.up and down every two weeks like its been doing.
On the charts, buying at 60 looks good, the 5 subwaves down are completing now.
Its possible that nnvc is a different stock following its own development process that is more 'decoupled' from the general market. you'd have to watch it to determine that.
Like another stock I'm watching, looks perplexing....LNN (lindsay) a popular water irrigation systems company.... a very popular and solid stock....plunged today,while the general market went up.
Lindsay peaked on august 3 and has been correcting in a 'healthy' way since then. Maybe thats a good thing to look for in stock selection. Might suggest that the stock is not inflating like a bubble,the way the whole market has been. I like that idea. so I bought more today.

If I didnt own any NNVC ,I would buy now....but also realizing that it could drop to test the ultimate bottom in the .50 area.

Anonymous said...

Thanks for your input T.

I really had hoped NNVC would hold close to .80, but the drop in the last three trading days has been precipitous.

Generally, when an individual stock drops like this, there's a reason. Not always a good reason, but none-the-less a reason.

This is definitely perplexing...and a bit troubling.

Thanks again,