Intraday/Swing Plays

Originally posted by ssb
Anyone with TA skills- can they tell us where this one is heading.
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The trend lines are not drawn correctly, but that still won't matter. This stock is to volatile and cheap to chart with any significance. A few investors/MMs can make this stock move any way they want. I definitely would not use TA on these type of stocks. IMO
 
Originally posted by big_jdez


Point and Figure charts don't work too well for penny stocks IMO.
Although as the chart clearly shows the down trend has been
broken.
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Actually, here is a P & F chart with correct downtrend line drawn and it hasn't been broken.
 

Attachments

Expect weakness to continue today. All major indicies hit lows for Apr. while the SOX dragging down the Naz.

Support Dow: 10,000
Naz: 1,700
S&P: 1,075


MER - Short
Stop: $49.75
Target: $43.00
After failing to make news highs MER appears to begin penetratig below the old support level.
 
I'm going to hold these SOX puts for a while longer since we just broke support on the DOW and Naz. I might close a couple contracts later today.
 
Originally posted by Seanote
Expect weakness to continue today. All major indicies hit lows for Apr. while the SOX dragging down the Naz.

Support Dow: 10,000
Naz: 1,700
S&P: 1,075


MER - Short
Stop: $49.75
Target: $43.00
After failing to make news highs MER appears to begin penetratig below the old support level.
More...


CORRECTION: Target on MER is $41.00
 
Originally posted by UKSteve
Where do you see the next support on the DOW? Seems quite a way down, on PnF chart I have 9925 where we are sitting now!
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DOW: New support @ 9,925
2nd support @ 9,700 area
 
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