I wrote in this morning comments that when a stock as 5 to 7 consecutive red days (or green for that matter), one is to expect a reversal. I had a trend line alert set in QuoteTracker and when it crossed, that would be my signal to buy...

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  iSign Media Solutions Inc. (TSX-V: ISD) Got the alert at $0.34 and bough into it. Just closed position on it as I think we'll see a bit of a pull now. 5-7-Reversal proved to be correct than provided 14.7% gains.

  
  

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Zone Resources Inc. (TSX-V: ZNR) Zone Resources move above top trend line as volume increases. There no real chart pattern here just a break of the top trendline and with volume building, it could be a sign of accumulation, took a position at $0.27 for a look see...

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  Focus Metals Inc. (TSX-V: FMS) Add one to the successful count of a Falling Wedge Pattern! Man I love this pattern. I'm sure glad George has me re-look my chart yesterday and when I saw it, I took position in Focus Metal at $0.78 in the morning. Time and time again I've played this chart formation and it has been so far the one that has paid me the most. If you're interested in reading up on how to play this chart pattern, I wrote an article not too long ago about it called How to Trade a Falling Wedge Chart Pattern. There are several steps in playing this formation once it has broken out and if you play them correctly, you can increase your earnings by about 20% instead of just buying and holding until it reaches its ultimate pattern target price.

  
  

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Sorry George! LOL!

You might be getting it, don't let it go below the lower trend line or you'll be getting bigger losses! :)

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  Focus Metals Inc. (TSX-V: FMS) Always good to have a second view on a chart as I was just reminded by George of Agoracom via Twitter... Thanks George! The last time I talked about Focus Metals it had formed a Bull Flag and had just broken out of the flag portion. The calculated move on the Bull Flag was well over $2.00 but it never got there, decrease chart pattern success rate by one! LOL! Its been drifting down for a while and perhaps it has formed another pattern, which is what I should have done a while ago on it...
  
  As it turns out, we could be seeing a Falling Wedge now except that is has not bounced on the lower trend line as often as 'suggested' by the chart pattern. I should have at least 5 bounces (from top to bottom) to really validate the formation. But with the 200SMA trend line not too far below and today's move up from the lower trend line, it could be the start of a move up. So what will convince me? Indicators (both the Slow Stochastic and Relative Strength Index) are still in the oversold area, not good and no clear entry point. So I'm going to wait for the indicators to turn upwards and the price to move above the upper trend line with an increase of volume.

  
  

Cheers!

INT definately was a buy at $1.30 yesterday as it recovered from the drop and settled in that area. Unfortunately, I was busy yesterday and only paid attention to the markets for the morning rush, then went back to work. Congrats to those who bought and had a good run in the afternoon!

Cheers!