See http://www.tigersoft.com/Tigersoft-Explosive/
Thinner low priced stocks are dangerous. They are frequently "pumped
and dumped". Heavy (red) trading without much progress up is a warning
of "churning" and distribution. STAGE shown below also showed a
a double-top and heavy trading on down-days BEFORE today's big sell-off.
It shows that SELL STOPS below support must now be used. Do not
wait for a close below the support. That approach is too dangerous when
a stock can fall more than 50% over night, from the previous day's close|
to the next day's opening.
The short-term price reversal today in BLDP was not complete, in that BLDP
did not close below today's opening price. But it did occur on very high volume
following a price gap. Because of this, Classic technical analysis (Edwards and
Magee) would have us place a stop sell 1/8 point below today's close and if that
sell order is not triggered tomorrow, raise the stop each day by placing it just
each day's new close until it is finally triggered. My own sense is that BLDP's
technical strength is too great to sell so quickly.
