SCT Chart

[k1w1]

quote:Originally posted by Phaedrus

That is what ought to happen here - SCT should find support at $3.40. A clear break below that would give a Sell signal.
SCT is a good stock with good fundamentals. We techies are counting on the fundies to provide a good solid floor of buying support at $3.40. You should see todays drop as a market over-reaction and as such, presenting a buying opportunity. If you guys fail to front up here, I will (sadly and with regret) begin unwinding my position.
K1w1, on the fundamentals alone, do you consider SCT to be worth buying at $3.40?

Well its a funny old typo isnt it, Phaedrus. You appear to have made the same typo three times in one paragraph alone . Back to typing school perhaps so that next time you mean 3.38 your fingers dont mistakenly hit 3.40. I've tried to do it and its not all that easy.

Clearly you have read the posts on this thread and you never before corrected me or others when they have referred in their posts to your resistance level being at 3.40.

Is what a fundy would call an "I've reviewed this on being challenged.The resistance level on the graph is 3.38 not 3.40 as I mistakenly assumed in my earlier post" called a "typo" in techie speak ?

As for the SP I recall on day 1 last sale was 337 but there were sellers at 335. These were picked up by buyers on opening of day 2. I accept what you say about no sales on day 1 at 3.35.

If any share that I hold drops 10% in a short period that is significant TO ME. I don't think it is yet illegal for fundies to hold this viewpoint despite your disagreement with the proposition.

There are a lot of us fundies who were in this share early Phaedrus, not just techies. I am not in fact a MVT about techies at all. I am just giving it a robust shake on a share I have some interest in. I am sorry if I have ruffled your feathers as a result.
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[Risk]

quote:Originally posted by Phaedrus
Any reasonable, thinking person would have recognised the figure of $3.40 in the text of that old post as a typo.

Phaedrus, with all due respect, I dont believe that 3.40 was a typo...perhaps 3.38 was what you meant, but its not what you said.

Sure, if you look at closing price, 3.38 is resistance/support, but unless Kiwi zoomed on the charts himself, he obviously took your word for it that it was 3.40.

Most members here take your word as Gospel.

[Phaedrus]

In an effort to avoid just the sort of petty hairsplitting that is going on here, I generally refer to resistance or support as being found at around a certain level. It is a shame that I failed to use that qualifier in this instance, though I suspect that if I had, some bird-brained beanie would be requesting a formal definition of exactly what I meant by "around". I should also have referred to the minor and inconsequential discrepancy between the chart and the text as an oversight or a mistake rather than a typo.
While it can occasionally be exact, right to the cent, Support and Resistance most commonly appears across a narrow range of prices. The peaks that defined the initial resistance here were at 338 and 339. Give or take a cent and we have a resistance/support zone of 337 - 340. It would have been better if I had used these figures. But I didn't. Mea culpa maxima.

Let's cut the crap gentlemen.
The single important question here is this :- Has SCT made a clear break below the recent Resistance level, thus triggering a Sell signal?

The answer is [u]NO</u>

[Capitalist]

Phaedrus: Some bird-brained beanie would be requesting a formal definition of exactly what I meant by "around".

Your are far too polite Phaedrus. Lindsay Perigo calls such creatures "Pedantic, nit-picking clever-dick smart-asses who ejaculate to arcane masturbations about the meaning of the word "meaning"

[k1w1]

Can I say Cap that I strongly resemble that last remark...

[duncan macgregor]

KIWI. can you please explain what capitalist said. and while you are at it what is the definition of around. macdunk

[k1w1]

Oooh, oooh I know that one MacDunk ...the definition of around-is the type of question that would be asked by a bird-brained beanie. The other bit about dicks, and asses and masturbation is from Cap's friend Lyndsay Perigo. He enjoys playing wide receiver - to borrow an American football expression.

[Risk]

I've never heard of this lyndsay perigo....
but I bet she's facist too

my definition of "around" is a vague figure that I used when I didnt stick to my stoplosses.

(nowdays I use "exactly"...which is a precise figure which I always use as a stop...its too hard to set an automatic stop to trigger at "around")

but seriously...Phaedrus is right as usual...you must give support a bit of breathing space, so if I had been using support as a stop I would have set my suto stop to sell if a trade completed at $3.36. (ie. just below the expected support range...because if it trades there, then you are proved wrong)

[k1w1]

Originally posted by Phaedrus ,
K1w1 said "There is a clear argument that can be made that this stock is retracing to its earlier levels in the mid 3.30's." Really? Let's hear it!


Is this SP now out of the 337-340 resistance/support range from a TA viewpoint ?

[StainlessSteelRat]

quote:Originally posted by Phaedrus

In an effort to avoid just the sort of petty hairsplitting that is going on here, I generally refer to resistance or support as being found at around a certain level.

I imagine all but the most obtuse would have been able to see that from your original post. You said a

quote:clear break below that would give a sell signal

Now, for my mind a "clear break below" would have to be at least one percent, though some might argue two - any less would mean that a quick sneeze at almost any price would get the sellers out. At $3.40 1% is 3.5 cents, 2% is 7c.

IMO, you were justified so far with your original position.

Having said that, i notice SCT is sitting at 331c last sale - there might be a few who are getting a bit twitchy.