Boomerang tracking - BMG
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Posted: Thursday May 27 10:46:24AM 2004
I bought BMG at $2.07 this morning. Although it may pull back a bit more from here it looks like it s forming a higher low and I am betting it will move up above $2.20.
Normally I would wait till I see a more definitive reversal.
Posted: Thursday May 27 6:19:50AM 2004
For several days now, the price is around 2,05-2,10$. To me, the curve obtained does not look like anything classical. Can technical analysis tell us anything about the evolution of the price?
Posted: Wednesday May 19 9:53:23AM 2004
Some simple chart patterns:
Posted: Friday May 14 7:01:51AM 2004
BMG is retracing from its recent high and a reversal would be indicated if it started a move up from these $2 levels. Personally I would wait to see a move up from here as it could simply continue its downward trend to below $1.90
Posted: Wednesday May 12 9:48:08AM 2004
The stock is now trading around 2,10$. From what you said, I should now wait for it to come down below 2,00$ before buying it. Is that correct? Is the trading volume consistant with the theory?
Posted: Thursday May 6 12:18:28PM 2004
There are several good (although expensive) books on TA. I would suggest getting as much free stuff as you can for starters. Its really not that hard to grasp. Check out ...
http://stockcharts.com/charts/ and look under "Stock scans" on the menu on the left side of the page. Scroll down to the bottom and read the information under "Scan Definitions" and "Understanding Scans". Lots of good info.
When your ready for more, Amazon.com has lots of listings for "Candlestick Charts". You can often read parts of the book and get reviews from others. If and when your ready to order ... go to the Canadian site Amazon.ca.
Posted: Thursday May 6 11:19:44AM 2004
Thanks again... so much to learn!
Is there a good book that you would recommend to introduce someone to technical analysis?
Are there other good internet sites for small investors (of the same quality as this one)? The other ones I have visited are more into bullying (not to say bullsh...).
There are many interesting suggestions here. I am just looking for more, see if there are better ones elsewhere...
Posted: Thursday May 6 7:17:54AM 2004
Thanks again for the information.
Is that what you are referring to, called the «double bottom»? Does this happens on a short period of time (3-4 days)? If I look at the recent trading, there seems to be a bottom at about 1,90-1,92$. It has been trading in that range for a few days. If I get it right, I would have to wait for the price to come up a few cents (i.e. 2,00$), then wait for it to come down a few cents (i.e. 1,95$).
Would that stock be a good buy on a short term or a bad one because it has lost the investors confidence (bad momentum)? Are you thinking of reinvesting in that stock yourself?
Posted: Wednesday May 5 9:47:45AM 2004
Thanks for your comments.
I was asking in case someone knew anything about the company that would explain the drop in price. Personnaly, I think that people had great expectations about the entry into the U.S. market, and since nothing has come out yet, people are loosing confidence in the potential of the stock. That would thus not be a problem to buy the stock on such a pullback if this is the correct and only explanation. My fear is that there is some other information out there justifying the drop in price (e.g. the attempt to enter the U.S. market failed and the company is about to close its offices in California).
You seem to be good with technical analysis. Is there a way to tell when the stock will be near its bottom?
Posted: Wednesday May 5 6:58:37AM 2004
The catch is ... the stock is on a strong downward trend below its 20, 30 and 200 day moving averages. Regardless of the fundamentals, the market thinks this stock deserves to go down.
Posted: Tuesday May 4 12:35:29PM 2004
Anyone following this stock? This company is making and installing detection devices to track stolen cars and trucks. The stock has been declining recently (from 2,80 to 1,90). It has no debt, about 13 millions in cash, and is generating net income of about 0.5 million per quarter. It has recently opened two offices in California to access the U.S market. Could someone help me find what is the problem? I am thinking of buying but... Where is the catch?