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ASTM

ASTM : possible nibble at current levels. 1.41-1.42

Edit: position opened 1.42 small nibble.

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Edit 6/27 position closed 1.35 -4.9%

 


This entry was posted on Friday, June 1st, 2007 at 3:42 pm and is filed under Closed Losers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

16 Responses to “ASTM”

  • 1
    ThatStockGuy
    June 1st, 2007 15:44

    Earlier this morning I decided to run a new screener on stocks that have .60 cent difference between the 52 week high and lows. The idea was based on the narrow range of one of my longterm core positions OLGC. What I saw manually scanning these stocks under 2.25 was pretty mind blowing. Yeah those stocks are considered dead but when they breakout the gains are huge. (market cycles)

    Anyways I haven’t pulled the trigger on ASTM just yet. One of my subscribers read my comments about OLGC and sent me an email.

    “I saw that you mentioned ASTM in one of your posting about OLGC. How do you feel about that stock? They got regulatory approval for a study on an osteonecrosis treatment and have no debt. The stock has gone down this past week but seems to have some decent support at 1.40. Does this seem like a good candidate or something to stay away from?”

    Carlos I appreciate your DD.

    Here are some of the charts I put together.

    In 2003 it went from .25 to 1.75 - when in a narrow range of -.60

    http://tsg.gotdns.com:8082/charts/scan/astm.htm

    The daily chart- a long term upward trend from Oct. You’ll also see the 3 big tops and my downward trendline.

    http://tsg.gotdns.com:8082/charts/astm-trend-6-1.htm

    This might be worth nibbling on —support should be 1.39-1.40.

  • 2
    ThatStockGuy
    June 1st, 2007 15:54

    I decided to roll the dice, only tossed a few bucks at it.

  • 3
    ThatStockGuy
    June 5th, 2007 14:24

    I’m still holding this one for the time being. It did break it’s 6+ month trend line at 1.39
    The way the market is today almost everything on my screen is bleeding. I’ll wait to see how it acts into the close, if it starts to lose more ground from here, I’m going to cut it. If I do end up holding it into the close, and there is no news from the company in the morning and the markets look weak I’ll be unloading it. The next support levels 1.30 after ???
    http://tsg.gotdns.com:8082/charts/astm6-5.htm

    (those that use IE 7 you can really zoom in if need be. lower right of your explorer window you’ll see a tool to zoom)

  • 4
    ThatStockGuy
    June 6th, 2007 12:37

    This position is still open. I had a late start this morning and by the time I logged in it was at 1.36×1.37 its been hanging in there all morning. If I were to use a 7% stop it would take it to 1.32. For as much as the markets are down, and ASTM broke that trend I don’t see the panic selling. If it can close 1.37 we could have a possible reversal with resistance at 1.40 or so.

    Everything I’m looking at seems iffy. I still think the best position is a cash position. If you want to roll the dice, play with small size positions and use stops. I wouldn’t be betting the farm on anything right now.

  • 5
    ThatStockGuy
    June 6th, 2007 13:26

    I was doing some digging and came across this.
    http://money.cnn.com/2007/06/05/news/companies/stemcells_outlook/index.htm?postversion=2007060605

    “Stem cell industry set to break out
    With California finally free to spend $3 billion on embryonic research, the stage could be set for a hot new biotech sector.”
    By Jeff Cox, CNNMoney contributing writer
    June 6 2007: 8:59 AM EDT

  • 6
    ThatStockGuy
    June 6th, 2007 14:48

    Chat rooms are really buzzing right now about that news I posted well over an hour ago. They first attacked STEM on that news at 2pm, they seem to be picking up ASTM along with STEM.

  • 7
    ThatStockGuy
    June 7th, 2007 14:11

    Maybe I should start scalping this thing:) It came back down to 1.37 from printing 1.45 in pre market. Someone just ripped the offers 300k shares.

  • 8
    ThatStockGuy
    June 7th, 2007 23:26

    Well it went from looking good to back to crap. If this gets some action in premarket again I’m going to try and unload it. If it doesn’t and I see playing with 1.36 again and it starts to thin out its going buh bye.

    This thing is having a hard time with 2 averages teal?233 and tan89. The volume was pretty high but with an ugly candle. They gapped it pretty good this morning, these little stocks don’t normally like to be gapped even if its only a cent.
    http://tsg.gotdns.com:8082/charts/astm6-7.htm

  • 9
    ThatStockGuy
    June 20th, 2007 01:18

    I haven’t gave much updates since June 7th. The position was entered on June 1st and its back to even. It needs to get over 1.44 IMHO The stock could use news, or media hype on stems.

    chart marked entry and last update with arrows.
    http://tsg.gotdns.com:8082/charts/astm6-19.htm

  • 10
    ThatStockGuy
    June 20th, 2007 13:35

    “It needs to get over 1.44 IMHO”

    I hope one of my readers didn’t try to jam it at the open.
    times and sales

    That was either the top or a gap n trap and in a few days it takes out that resistance.
    (another one that went from looks good to not so good, purely based on the open.

  • 11
    ThatStockGuy
    June 21st, 2007 17:20

    Just loaded the chart for ASTM. I got a teal bomb plotted. Now don’t go running off as its a sure thing, its not but the odds are pretty high compared to the failure rate.
    You’ll see in June of last year I had teal,orange,red appear and the stock went bonkers. (just like CNXT

    ASTM really needs to hang on to 1.39, I’ll give it 1.38. The stock show support at 1.36. However I feel if it breaks 1.38 something is wrong, sick stock. Off the Oct 06 lows I’m showing a trend that cuts right into 1.44 along with my averages. The waves (highs and lows) are getting smaller and smaller, something has to happen soon, and even though i got a signal I’m on the fence.
    Markets are iffy, a few things are moving, its a tough call, part of me says it wants to dump out put it has that shot to move given a press release.
    I feel like it should have gone already…… will see.

    http://tsg.gotdns.com:8082/charts/astm6-21.htm

  • 12
    ThatStockGuy
    June 22nd, 2007 20:29

    The open was nice considering the close yesterday. They didn’t gap it. The market weakness took its toll on it today. I wasn’t around when it broke through 1.38. I see this also had some paint into the close, not as bad as INSM but still enough to piss me off, make it break it with those few cents.
    ts

  • 13
    ThatStockGuy
    June 26th, 2007 12:05

    I had another late start this morning. I see ASTM broke below 1.36 and bounced back. I’ll be watching it closely. I don’t like the fact that it broke 1.36, it could slide lower.

  • 14
    ThatStockGuy
    June 26th, 2007 17:36

    Tomorrow could be one of those days where I wish I was around when it broke 1.36 to sell it. Then again I could be saying phew good thing I wasn’t around to sell it.(it needs some news) I’m just going to keep an eye on it in the morning.

    http://tsg.gotdns.com:8082/charts/astm6-26.htm

  • 15
    ThatStockGuy
    June 27th, 2007 10:13

    position closed 1.35 -4.9%

  • 16
    ThatStockGuy
    June 27th, 2007 18:42

    Unbelievable!!!!!!!!!

    ASTM finally decided to release news! Nothing like waiting for the stock to lose support to get it back up.

    http://biz.yahoo.com/pz/070627/122095.html

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