MTM's Charts to watch

[mystiky]

And GOAM long?

A bit of a breakout here....

float is only 2 million shares...

perhaps a revisit for the 9.50 levels?

[mtm]

I don't like to trade GOAM it is to mental!

[mtm]

Some ideas for people to watch as far as the S&P goes.


Coming back up against this resistance of the major trendline we broke. This is the second test of this line. This is the trendline the market has bounced off of all the way up from the bear market bottom. We broke this line on the second week of march.


Weekly Chart:

[mtm]

Here are some scenarios to keep in mind as we waddle through the torcher. There are 4 or five charts in a row here These are daily charts...

1

[mtm]

2

Yes, technical analysis is not always right on.

[mtm]

3

[mtm]

4

[mtm]

Closed out AIRT for a $1 gain.

Still short ESRX.

Stopped out ADSK. loss of .75

Still in CMCSK its flat.

Watching KYPH closely.

Looking to short AAPL.



Good weekend all! I am outta here until tuesday.

P.S. Anyone grab some ABRX on that overeaction?

[noshadyldy]

Abrx

Hello MTM
I grabbed some at 4.66 so I'm down a tad at moment. Could you share your projections on this?
Thanks.

[mtm]

Hello MTM
I grabbed some at 4.66 so I'm down a tad at moment. Could you share your projections on this?
Thanks.

That was just a 2 day play on a short covering bounce. With a target of 5.50

At this point its a coin toss on wether it tests it low or just stops in this area and floats around.

Here are the areas of S/R 3.26, 4.00, 5.17, 5.50, 5.96, 7.57

[noshadyldy]

abrx

Thanks for your input on' this, MTM. I actually did view this as an overreaction and thought it would eventually come around and do well. I guess we'll see.

[jiesen]

P.S. Anyone grab some ABRX on that overeaction?

I wouldn't necessarily call it an overreaction, considering that they've ceased production altogether. This will likely ruin them!

[mtm]

I wouldn't necessarily call it an overreaction, considering that they've ceased production altogether. This will likely ruin them!

Well the price movement has already proven you wrong. Interesting how I draw all these negative comments.

The initial drop was an overeaction, If it was'nt an overeaction it would have not bounced.

[jiesen]

Well the price movement has already proven you wrong. Interesting how I draw all these negative comments.

The initial drop was an overeaction, If it was'nt an overeaction it would have not bounced.

ok, I'll admit, if you got it at 3.5, it was a nice catch for a quick flip, but I don't think it's done dropping yet, and it'll very likely see 3.5 again. this company's profits will quickly turn to losses, and it will be very difficult for it to recover financially from this blow. If I owned it now, I'd sell.

The only redeeming quality I see for this stock is the net positive liquidation value, which may amount to some $2-3 when the dust settles (after writedowns for layoffs, etc). But the longer it takes, and especially if legal costs start to mount, that, too could go away.

So, in my opinion, a drop to $4 is not an overreaction here, but the stock price will be quite volatile in a situation like this. My hat's off to you if you can profit from it.

[jiesen]

http://finance.yahoo.com/q/bc?s=AAIIQ.PK&t=6m

and here's an example of what happens to a generic pharm when its revenues go away. check back in 3-6 months and compare this to ABRX.