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I took a position in ONSL on Monday at 28 3/4. Attached is a .gif of
ONSL.
The top indicator is the superposition stochastics. Note the divergence
as indicated by the magenta trend line.
The vertical blue lines and the blue trendline (on the price) are there
to show you how the price (close) is occillating up & down and is being
measured by the stochastics.
The blue diamonds represents the points for drawing the Raff regression.
Reminder "JF" is used as a projection in the future to see if the trend
will stay in tack.
I placed red dots on each of the next 5 days. So the red dots are the JF
values for different time compressions.
1st dot - 1 day compression (Tuesday - today)
2nd dot - 2 day compression (Wednessday)
3rd dot - 3 day " (Thursday)
4th dot - 4 day " (Friday)
5th dot - 5 day compression (next Monday)
The vertical cyan lines are for each day.
The grey dot is a weekly compression from Friday to Friday.
In a nutshell these JF values (numbers not given) give me a numerical
value of the current trend if it is going to hold.
The red trend line is a line that starts at the close of the peak and
goes through the current downtrend of the first two red dots. So I
expect the price to move along this red line abit.
I admit that this is a bit of a late position. I should of taken my
opportunity around $30 but waited instead.
Info about the company. Good company-has an internet based auction
business. But here is the short term downside.
PE = 1500
and the company will be having another IPO of 1.7 million shares upon
approval of the SEC (about 30 days?).
The price on Sept 2, 97 was 10 3/8 and had a high 32 1/4 on Sept 30.
My first level of support (resistence for me) is around 27 and my first
line of resistence (support for me) above me is arround 29. The next
lower level of support (resistence for me) is in a range from 24 to 23.
In the short term this could turn against me. As of early this morning
the ask was down around 27 5/8. It has since moved up to 29 1/8 at 10:45
am.
We will see. As always it makes me quezzy.
Harley Meyer
Attachment Converted: "c:\eudora\attach\Onsl.gif"
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