Pincher Play - BLGM

[FreshlyBlended]

See link for chart. Give it a couple days and it could pinch

BLGM - SharpCharts Workbench : StockCharts.com

[darinarti]

at your chart and I to use the same indicators. The one thing that stands out to me is the lack of volume and the sudden drop in pps what happened there by the way?
The MACD is the only one giving any sign of a reversal, I wait till all three are on the same page. Just some thoughts.
Happy traden
Darin

[niro]

what is the best place to go and learn about trading tecs?

[Jerico]

Looks like they filed for Chap 11 6/16:

BMC West parent files for Chapter 11
By Staff
June 22, 2009 --
BOISE, Idaho - Building Materials Holding Corp. (OTC Bulletin Board: BLGM), Boise, Idaho-based parent company of residential building materials supplier BMC West, has filed for bankruptcy under Chapter 11, but all locations remain open for business.
The company filed a reorganization plan on June 16 with the U.S. Bankruptcy Court in Wilmington, Del.

It does however look like a rebound is forming.
Upward movement on the Williams%R, Stochastics up, MFI at bottom, & it is starting to be accumulated.

Niro:
A good place to start learning about the technicals: Investopedia.com: Articles and Insight

[DogDayTrader]

Looks like they filed for Chap 11 6/16:

BMC West parent files for Chapter 11
By Staff
June 22, 2009 --
BOISE, Idaho - Building Materials Holding Corp. (OTC Bulletin Board: BLGM), Boise, Idaho-based parent company of residential building materials supplier BMC West, has filed for bankruptcy under Chapter 11, but all locations remain open for business.
The company filed a reorganization plan on June 16 with the U.S. Bankruptcy Court in Wilmington, Del.

It does however look like a rebound is forming.
Upward movement on the Williams%R, Stochastics up, MFI at bottom, & it is starting to be accumulated.

Niro:
A good place to start learning about the technicals: Investopedia.com: Articles and Insight

I agree, it does look like it's on the rebound, would like to see a little more up volume though. Could be a good canidate for the Bankruptcy Bouce(TM) play. Swim at your own risk. GL

[jestudley]

the housing market is still suffering,but is making progress
they got a hugh supply still sitting empty
i think i would find something more stable
thanks
joel

[jackpot722]

What's a pincher play?

thanks,
Mike

[FreshlyBlended]

What's a pincher play?

thanks,
Mike

Pincher plays are mostly when the PPO/ADX and/or MACD are about to pinch or cross over. Basically your looking for an oversold stock at the bottom where the technicals are turning around. You can find these on 60 min charts before they show up on daily charts so you can get in before a big run.

These can be very profitable...

Here is a great annotated chart (not mine) that should help you identify and read the indicators of what a pincher is

http://i184.photobucket.com/albums/x...oway/60min.jpg

[Talos]

Hello,

When I play Pincher, in addition to the PPO and ADX, I also want to see the RSI or Williams %R way oversold. Then I watch carefully for the P-SAR to tick under the candle along with the DI+, DI- making a dramatic cross. For me, that's the final confirmation that the pincher is in play.

-T