logo
Home Register FAQ Members List Calendar New Posts Search

Go Back   Forums > Charts, news and analysis (official contributors)

Reply
 
Thread Tools Display Modes
  #1  
Old 02-01-2018,
AdellPalmq AdellPalmq is offline
 
Join Date: Jun 2017
Posts: 0
Default ENG - Short Sale Opportunity?

EnGlobal (ENG) provides engineering services to the petroleum industry. They just released great numbers: Revenue up 56.9% and net income up 100%. I've been lucky enough to enjoy the ride over the past year. I got in about 18 months ago at $1.20 per share and today its closed at over $14.00 per share...but all rides come to an end. The P/E of ENG is over 73 and no where close to any of its competitors nor can the company continue to sustain growth at it's current rate. Seems to me like its a great time for a short sale and enjoy the ride as it comes back to a more reasonable level. Any thoughts?
Reply With Quote
  #2  
Old 02-03-2018,
Adelesiau Adelesiau is offline
 
Join Date: May 2017
Posts: 0
Default

Freakin awesome short! Just wait for the 14.48 high to get taken out. Based on the 10 day chart alone it is about 1.50 above the maxi it should have gone on this rally. It will turn after the high goes and then fall all the way back to confirm the nonconfirmed trend low at 10.00 from 2 Monday's ago. I'm sure it'll go alot lower than that too. Looking at Bman's posted chawt you can see all the proper signs of a completed top. Early this year it set a trend top at 13.75ish as we see the ADX line at or above 60 according to DMI. The ADX line then broke below 20 just recently signaling sell on a 6 month time frame. The stock then proceeded to rally off that signal which is bearish. The price breached the 13.75 high from Jan 2006 (confirmed trend top). All that's left to do is to confirm the high from Wed and she be looooong goooooone! Mind if I borrow this pig?!!
Reply With Quote
  #3  
Old 02-03-2018,
AdellDiede AdellDiede is offline
 
Join Date: Jan 2017
Posts: 0
Default

ENG now qualifies as a roulette type gamble in da casino on Wall St. That means you make a small bet opposite of the trend....if you are correct you get paid like a big winner! And please doan fergit me 10% fo splainin why as I did in me previous post. Anywho, it is still in an uptrend but da tops are confirmed. Ideally you would want to see it trade higher slowly and not in a gapup type move. If it gaps up it is more than likely too early to short. If it trades to $15 slowly I would go with the outta da muny puts with a strike that gets you in for .50-.1.25 somewhere. I'm wreckin the June 12's would do dat fo ya....if this stock even trades options of course.
Reply With Quote
  #4  
Old 02-04-2018,
AdelaideMa AdelaideMa is offline
 
Join Date: Dec 2017
Posts: 0
Default

Well, if ya bought $12 puts for somewhere around .50 centavos I'm sure this play has already dubled fer ye. That's da good news. The even gooder news is that I doubt most fokes even noticed the pullbacks in stocks like this pig ENG because they was too busy playing "idiot stocks" in da same sector. An idiot stock is defined as an OTC POS that dubles in 3 days after it tripled in 10 days and you still think it's a great buy! LOL Anywho, I think we will see mo weakness in the energy patch which will result in a "trick em" rally in udder sectors. Yo idiot traders, if you are going to get into a stock like SFP because it rallies...please wait until it is 30% higher than current levels befo ya buy. Much appurshe ate it.
Reply With Quote
  #5  
Old 02-05-2018,
AdelaideCh AdelaideCh is offline
 
Join Date: Jun 2017
Posts: 0
Default

I will give you props on this one, you called the top. i have been looking at da chawts all eavening trying to make scence of this defined top. I guess i need to refer back to the books and reread about tops and trend tops cause i missed it. I have been for the longest time not judging tops and bottoms right. I am not sure how defined the books are but this has helped me with defining what i am doing wrong..
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is .