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As my search continues for breakouts, I spent some time looking at OTEX after noticing it was listed as an "early-stage base" in Investor's Corner by Paul Whitfield in 7/13's IBD. NOTE: the above is the DAILY chart. I had previously annotated the structure I'm calling a flat base w/ 10% crx beginning on 2/4/11. My attention was drawn to a possible dbl bttm (annotated above). It clearly is not deep enough (13.4% crx) to be a valid dbl bttm but it is just so darn pretty! Ha! Though I'd love other's opinions re: the validity of the base, what I am most intrigued by is the fact that I do not recall ever seeing this pattern of a base reset, followed by a cup-like consolidation (b/n 10/10-12/10) and then creeping up to form the flat base & then on to the "double bottom". Not recalling ever seeing such a pattern in the model stocks over the years which, by itself, makes me think this one is unlikely to be a winner (though I like the #'s and story). Any thoughts? Am I forgetting a model stock example (very possible)? Thnx to all. Brad
3 quarters decelerating earnings
sales were anemic 2 of last 3
est either lowered to make a beat easier or otex is moving into 'senior' growth .
aapl is a growth that was slowing story est revised upward and so too the stock but still a slowing.
problem, everything now is macro.
QE3 or whatever accommodation is called will cause stocks to rise i believe the latest rally and back was
Bernake's accommodative comments.
Volatility is definetly increased.
Risk /reward profile , my read of the weekly chart says dont expect to much.( opinions are worth)
The r/s line and volume is killer. As earnings are a month away what caused the vol here the announcement
of buying 360 global? Well its clearly under accumulation.
Thanks for the reply. I missed the decelerating earnings as I fixated on accelerating sales. I'm not clear as to why you think sales were anemic as they are increasing and hit $267 m last qtr. Your point about the acquisition of 360 Global as a cause for the price/volume action on breakout is well taken. However, that doesn't invalidate the breakout itself, does it? Granted price action since then does suggest it is more likely to fail than to succeed. The other point I didn't mention is that this stock is fairly thinly traded. Thnx again! Brad
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