Folks chart work is but one of the many tools in an investors box but every once in a while the picture you see is just so compelling it over rules what you might think of the sector. Such is the case with VeraSun... we all know the ethanol thing is not happening yet for days now since a congress bill passed these stocks have been moving. I'm not so interested in chasing PEIX as I am in maybe seeing a real nice long term play work out with VSE take a look at that chart> double bottom @ $9.75-$10.00 with another mini double bottom just last week, charging into friday's increasing volume- a 3 mil share day! Busting over trend lines, this stock looks tasty; it's a stock to watch for 08'. A little extended I'm hoping for $1 plus pullback, the only problem is it's acting like it wants to sprint a couple bucks up right now to $17.50 level... so there is the quandary buy now into strength and probably get hit with a reversal but still have a good name... or get cute and hope she doesn't run away. To Be Continued ~ stoney
Why not throw up the chart and see for yourself? This was a great "bounce play" at 9 and 10, but who knows if it will reverse from here. It cant seem to get over 17. This is irresponsible to come on here and say this is a buy right now. VSE has trapped so many investors and traders and the only ones who have won so far are the shorts. Is this a buy? I wouldnt try. You buy at the bottom, not at the tops and this is a top. Whether it gets over 17 is anyone's guesss. Dont be burned.
Well JackH you have set yourself up for a fall. Take the opposite of a stoney trade at your own peril this is as technically a sound pick as you will find in the stock market today. I told you I was waiting for a dollar plus pullback what more do you want? Even if it didn't get much past $17 what the heck is wrong with a $13.75 to $17.50 trade:? I'll take that any day. I did not download your chart but I am confident my work is correct on this name and I have had it vetted by charters far superior to myself... we all agree... this is a good pick. It's just a matter of when to get in. ~ stoney
I warned you Jack- VSE surges to new 4 1/2 month highs ,Testing $17,before backing off!!!!!!! Sadly I'm not in... that's where waiting for a pullback on a slightly extended stock will get you- nowhere. ~ si
Well here we are decision time.. we got our usual downgrade from some house and the stock pulled in a buck it's $16... The original premise is intact this is a very powerful 2008 looking stock with a 50% recent move from $10 that has to be respected... However we whiffed at $13 something and would get $14 something in a weak market... I'm afraid for some reason... To Be Continued~ stoney
Screw it. I'm in. Not 100% worth but It's done at $15.75 I don't want to play it cute the next time it runs at $17 it's not going to stop. We really called this so far perfectly if you read the thread we had a $2 spike and if we had been more nimble we would of benefited from that... then we had the fall from grace and the weak hands shook out... and now we base and??? Let's see. You can't say you do nothing for your planet when you buy some VaraSun the world's largest biofuel company. Take that Willie Nelson! I'm helping! ~stoney