Wed. 12-07-05

Posted by downtowntrader | 12/07/2005 09:43:00 PM | 0 comments »

Sorry for the lack of updates. Blogspot was down a couple nights ago and I was out last night. I'm working through a new system for my nightly scans so the updates will be a little lean until I work out the kinks in my new system.

We will start off with a chart of boom that most probably don't look at. The daily looks pretty messy, specially with the last two volatile days, but take a look at the weekly on boom. It sure is a pretty chart. Notice that boom has held above the triangle breakout.
Next up is BCON. If you're a regular reader, then you know I've been looking for BCON to bottom out around here. Volume is ticking up again and it just needs a little kick in the pants to get over the 50sma. Formed a doji today which could be a warning, but keep in mind that we are bottom fishing here, and patience is required. It won't run to 5 in one day.
I happened to pull up the SIRI chart last night, and noticed an almost perfect inverse head and shoulders. Check it out in light blue. I want to buy near the lower trendline, but may not get the chance. With XMAS around the corner and Stern right after, there may enough catalyst to kick start SIRI soon.