Lee Van Cleef said:
I'm seeing volume on Powell having surpassed 50% of average daily volume at 10:18am ct. That looks pretty healthy to me.
Number Monkey said:
Interested on thoughts on POWL as well. My stop kicked in today which locked me in with a 24% return in just 14 days. If the market really is going lower as many of us believe, isn't the better play to get back in after a future market correction?
But they didn't, so you have to take what the market gives you.ProgN said:Number Monkey said:
Interested on thoughts on POWL as well. My stop kicked in today which locked me in with a 24% return in just 14 days. If the market really is going lower as many of us believe, isn't the better play to get back in after a future market correction?
No one needs to fret about POWL, their business and future are solid. What's happening at the moment is shorts are using the stock as their own personal casino. With POWL having such a small float, it doesn't take much volume to create dramatic movements in the stock price. Shorts push it down, cover, ride it up only to short and profit. That's why they should've split the stock. Larger float makes it harder to manipulate. Shorts are playing with fire though because Blackrock is the largest shareholder of POWL shares. Would you have the balls to short against $10T Blackrock?
POWL should've declared a 5:1 split and it would've put the short's nutsack through a woodchipper.
Stocks with extremely low floats don't follow technical analysis rules like larger companies do. They could come out AH and declare a 5:1 today if they wanted to. They don't have to wait for an ER. Blackrock could file that they're purchasing another 500K shares. Not saying either will happen, but either one of those would send it north of $250 in a heartbeat.Heineken-Ashi said:But they didn't, so you have to take what the market gives you.ProgN said:Number Monkey said:
Interested on thoughts on POWL as well. My stop kicked in today which locked me in with a 24% return in just 14 days. If the market really is going lower as many of us believe, isn't the better play to get back in after a future market correction?
No one needs to fret about POWL, their business and future are solid. What's happening at the moment is shorts are using the stock as their own personal casino. With POWL having such a small float, it doesn't take much volume to create dramatic movements in the stock price. Shorts push it down, cover, ride it up only to short and profit. That's why they should've split the stock. Larger float makes it harder to manipulate. Shorts are playing with fire though because Blackrock is the largest shareholder of POWL shares. Would you have the balls to short against $10T Blackrock?
POWL should've declared a 5:1 split and it would've put the short's nutsack through a woodchipper.
ProgN said:
nutsack through a woodchipper.
Maybe not traditional technical analysis. But stocks with large volume do track with predictable sentiment behaviors. Not discounting that things you mention won't affect it. But trading based on an expectation that something might happen, with no indication that it absolutely will, can be a dangerous game.ProgN said:Stocks with extremely low floats don't follow technical analysis rules like larger companies do. They could come out AH and declare a 5:1 today if they wanted to. They don't have to wait for an ER. Blackrock could file that they're purchasing another 500K shares. Not saying either will happen, but either one of those would send it north of $250 in a heartbeat.Heineken-Ashi said:But they didn't, so you have to take what the market gives you.ProgN said:Number Monkey said:
Interested on thoughts on POWL as well. My stop kicked in today which locked me in with a 24% return in just 14 days. If the market really is going lower as many of us believe, isn't the better play to get back in after a future market correction?
No one needs to fret about POWL, their business and future are solid. What's happening at the moment is shorts are using the stock as their own personal casino. With POWL having such a small float, it doesn't take much volume to create dramatic movements in the stock price. Shorts push it down, cover, ride it up only to short and profit. That's why they should've split the stock. Larger float makes it harder to manipulate. Shorts are playing with fire though because Blackrock is the largest shareholder of POWL shares. Would you have the balls to short against $10T Blackrock?
POWL should've declared a 5:1 split and it would've put the short's nutsack through a woodchipper.
I'm not trading it though, I'm holding it because they've destroyed earnings estimates the last 6 ER reports and they still have $1.3B backlog, and they're diversifying their customer base by generating new customers. They'll have to split pretty soon and Blackrock heavily invested in them is insurance and two huge positive catalyst that will explode my position's value.Heineken-Ashi said:Maybe not traditional technical analysis. But stocks with large volume do track with predictable sentiment behaviors. Not discounting that things you mention won't affect it. But trading based on an expectation that something might happen, with no indication that it absolutely will, can be a dangerous game.ProgN said:Stocks with extremely low floats don't follow technical analysis rules like larger companies do. They could come out AH and declare a 5:1 today if they wanted to. They don't have to wait for an ER. Blackrock could file that they're purchasing another 500K shares. Not saying either will happen, but either one of those would send it north of $250 in a heartbeat.Heineken-Ashi said:But they didn't, so you have to take what the market gives you.ProgN said:Number Monkey said:
Interested on thoughts on POWL as well. My stop kicked in today which locked me in with a 24% return in just 14 days. If the market really is going lower as many of us believe, isn't the better play to get back in after a future market correction?
No one needs to fret about POWL, their business and future are solid. What's happening at the moment is shorts are using the stock as their own personal casino. With POWL having such a small float, it doesn't take much volume to create dramatic movements in the stock price. Shorts push it down, cover, ride it up only to short and profit. That's why they should've split the stock. Larger float makes it harder to manipulate. Shorts are playing with fire though because Blackrock is the largest shareholder of POWL shares. Would you have the balls to short against $10T Blackrock?
POWL should've declared a 5:1 split and it would've put the short's nutsack through a woodchipper.
Back to our back and forth on POWL, this is why I've felt if you are in it as a long-term investor (meaning at least 6 months absent some catastrophic event), don't worry with the short-term noise that's inevitable with the low float. They may address this as you suggest through a split or they may take the position that they are fine with the low volume and would rather have long-only, established investors. Maybe they do a secondary offering or maybe they issue shares for M&A, which would increase liquidity. But I don't see a secondary right now just for general corporate purposes. It would likely have to be tied to some capital expansion.ProgN said:Stocks with extremely low floats don't follow technical analysis rules like larger companies do. They could come out AH and declare a 5:1 today if they wanted to. They don't have to wait for an ER. Blackrock could file that they're purchasing another 500K shares. Not saying either will happen, but either one of those would send it north of $250 in a heartbeat.Heineken-Ashi said:But they didn't, so you have to take what the market gives you.ProgN said:Number Monkey said:
Interested on thoughts on POWL as well. My stop kicked in today which locked me in with a 24% return in just 14 days. If the market really is going lower as many of us believe, isn't the better play to get back in after a future market correction?
No one needs to fret about POWL, their business and future are solid. What's happening at the moment is shorts are using the stock as their own personal casino. With POWL having such a small float, it doesn't take much volume to create dramatic movements in the stock price. Shorts push it down, cover, ride it up only to short and profit. That's why they should've split the stock. Larger float makes it harder to manipulate. Shorts are playing with fire though because Blackrock is the largest shareholder of POWL shares. Would you have the balls to short against $10T Blackrock?
POWL should've declared a 5:1 split and it would've put the short's nutsack through a woodchipper.
Not disagreeing with you. But the market doesn't always move in ways that are rational or that fundamentally make sense. You have your own strategy and I'm glad you stick to your guns. And when you speak I listen. But no position for me and I likely won't take one. Hope everyone that did makes enough money to get those strippers 1099's looking good again.ProgN said:I'm not trading it though, I'm holding it because they've destroyed earnings estimates the last 6 ER reports and they still have $1.3B backlog, and they're diversifying their customer base by generating new customers. They'll have to split pretty soon and Blackrock heavily invested in them is insurance and two huge positive catalyst that will explode my position's value.Heineken-Ashi said:Maybe not traditional technical analysis. But stocks with large volume do track with predictable sentiment behaviors. Not discounting that things you mention won't affect it. But trading based on an expectation that something might happen, with no indication that it absolutely will, can be a dangerous game.ProgN said:Stocks with extremely low floats don't follow technical analysis rules like larger companies do. They could come out AH and declare a 5:1 today if they wanted to. They don't have to wait for an ER. Blackrock could file that they're purchasing another 500K shares. Not saying either will happen, but either one of those would send it north of $250 in a heartbeat.Heineken-Ashi said:But they didn't, so you have to take what the market gives you.ProgN said:Number Monkey said:
Interested on thoughts on POWL as well. My stop kicked in today which locked me in with a 24% return in just 14 days. If the market really is going lower as many of us believe, isn't the better play to get back in after a future market correction?
No one needs to fret about POWL, their business and future are solid. What's happening at the moment is shorts are using the stock as their own personal casino. With POWL having such a small float, it doesn't take much volume to create dramatic movements in the stock price. Shorts push it down, cover, ride it up only to short and profit. That's why they should've split the stock. Larger float makes it harder to manipulate. Shorts are playing with fire though because Blackrock is the largest shareholder of POWL shares. Would you have the balls to short against $10T Blackrock?
POWL should've declared a 5:1 split and it would've put the short's nutsack through a woodchipper.
I am not worried about the wild swings at all, or their future earnings, because I've followed it closely for a long time. That said, others in here don't know it like I do and I don't want them to worry that something is wrong because it's down so much.Aglaw97 said:Back to our back and forth on POWL, this is why I've felt if you are in it as a long-term investor (meaning at least 6 months absent some catastrophic event), don't worry with the short-term noise that's inevitable with the low float. They may address this as you suggest through a split or they may take the position that they are fine with the low volume and would rather have long-only, established investors. Maybe they do a secondary offering or maybe they issue shares for M&A, which would increase liquidity. But I don't see a secondary right now just for general corporate purposes. It would likely have to be tied to some capital expansion.ProgN said:Stocks with extremely low floats don't follow technical analysis rules like larger companies do. They could come out AH and declare a 5:1 today if they wanted to. They don't have to wait for an ER. Blackrock could file that they're purchasing another 500K shares. Not saying either will happen, but either one of those would send it north of $250 in a heartbeat.Heineken-Ashi said:But they didn't, so you have to take what the market gives you.ProgN said:Number Monkey said:
Interested on thoughts on POWL as well. My stop kicked in today which locked me in with a 24% return in just 14 days. If the market really is going lower as many of us believe, isn't the better play to get back in after a future market correction?
No one needs to fret about POWL, their business and future are solid. What's happening at the moment is shorts are using the stock as their own personal casino. With POWL having such a small float, it doesn't take much volume to create dramatic movements in the stock price. Shorts push it down, cover, ride it up only to short and profit. That's why they should've split the stock. Larger float makes it harder to manipulate. Shorts are playing with fire though because Blackrock is the largest shareholder of POWL shares. Would you have the balls to short against $10T Blackrock?
POWL should've declared a 5:1 split and it would've put the short's nutsack through a woodchipper.
I did end up taking a position and am happy with it. I'm not concerned with interim noise and believe it has found support above my entry price so long as they don't crap the bed in a subsequent ER.
flashplayer said:Lee Van Cleef said:
I'm seeing volume on Powell having surpassed 50% of average daily volume at 10:18am ct. That looks pretty healthy to me.
Yes but from what I see expected volume on a day like today would be about 500-600K this close past earnings, so from that standpoint the volume isn't that impressive and closer to in line with expectations.
think he means JPOW the etf that tracks leveraged market volatility based on Jerome Powell's public statementsProgN said:
Hope you meant POWL
Set $95 target sell.Heineken-Ashi said:
I do like BABA $83-$95 range.
BABA - Former demand zone now 1st supply zone on bottom. Top zone is longer term supply zone. Daily getting hot on RSI, strength of trend rising, and MACD no signs of cooling.Brian Earl Spilner said:Set $95 target sell.Heineken-Ashi said:
I do like BABA $83-$95 range.
Powell Industries Announces Fiscal 2024 Second Quarter Results (yahoo.com)Heineken-Ashi said:
Prog, I didn't read through POWL's earnings, but did they mention their thoughts on LNG and their pretty sizeable exposure to it?
Quote:
Backlog totaled $1.3 billion as of March 31, 2024, which was essentially flat sequentially compared to backlog as of December 31, 2023, and increased 25% compared to backlog of $1.0 billion as of March 31, 2023.
Net income was $33.5 million, or $2.75 per diluted share, compared to $8.5 million, or $0.70 per diluted share, in the second quarter of Fiscal 2023 and $24.1 million, or $1.98 per diluted share, in the first fiscal quarter.
Cope added, "Project activity across the markets we serve remains active. We anticipate that projects within the LNG market will continue to progress, however, based upon the recent pause on LNG export permitting by the Department of Energy, the timing of these future projects may be impacted. We are experiencing continued growth of our Commercial and Other Industrial sector, as well as the Electric Utility sector, while also seeing strong activity related to energy transition projects. We remain encouraged by the growth dynamics across the markets in which we compete and are well positioned to support these newer applications with Powell's products and expertise."
Quote:
OUTLOOK
Commenting on the Company's outlook, Michael Metcalf, Powell's Chief Financial Officer, said, "We continue to expect another strong year of financial performance in Fiscal 2024 as our core Industrial end markets, as well as our Electric Utility and Commercial and Other Industrial markets, are exhibiting favorable dynamics and activity levels to support our growth. The quality and duration of our backlog, in conjunction with the level of commercial activity, also support our expectation that this strong financial performance can be sustained throughout Fiscal 2024 and into Fiscal 2025. Our capacity initiatives focused on servicing current and future backlog remain on track and are progressing as planned, with our Gulf Coast fabrication yard expansion now fully utilized and helping to support the execution of our $1.3 billion backlog. We expect to complete the current capacity expansion initiative at our products factory in Houston by mid-Fiscal 2025, which will help to enable our initiatives to facilitate future growth."
Do we have any hope that anything even slightly good could come out of the 5/9 earnings call?cjo03 said:EliteZags said:
at first glance, i was certain $WWR must be an aries... but upon further analysis it may be a cancer.
M4 Benelli said:
All right trying to build this POWL battleship. Since they're around the same price point, traded 50 shares of SNOW for 50 shares of POWL. I don't think SNOW is moving in the short term, but POWL most definitely might. I already been to second base with this lass, and I'm asking her to go steady .
Will add more on a continual drop or flip it again for another second basing at Inspiration Point.
This stock is looking beautiful from a Fundamental standpoint.
Onwards to Valhalla.
The gift that keeps on giving.South Platte said:
Sheesh. FSLY murdered AH.
Aglaw97 said:Back to our back and forth on POWL, this is why I've felt if you are in it as a long-term investor (meaning at least 6 months absent some catastrophic event), don't worry with the short-term noise that's inevitable with the low float. They may address this as you suggest through a split or they may take the position that they are fine with the low volume and would rather have long-only, established investors. Maybe they do a secondary offering or maybe they issue shares for M&A, which would increase liquidity. But I don't see a secondary right now just for general corporate purposes. It would likely have to be tied to some capital expansion.ProgN said:Stocks with extremely low floats don't follow technical analysis rules like larger companies do. They could come out AH and declare a 5:1 today if they wanted to. They don't have to wait for an ER. Blackrock could file that they're purchasing another 500K shares. Not saying either will happen, but either one of those would send it north of $250 in a heartbeat.Heineken-Ashi said:But they didn't, so you have to take what the market gives you.ProgN said:Number Monkey said:
Interested on thoughts on POWL as well. My stop kicked in today which locked me in with a 24% return in just 14 days. If the market really is going lower as many of us believe, isn't the better play to get back in after a future market correction?
No one needs to fret about POWL, their business and future are solid. What's happening at the moment is shorts are using the stock as their own personal casino. With POWL having such a small float, it doesn't take much volume to create dramatic movements in the stock price. Shorts push it down, cover, ride it up only to short and profit. That's why they should've split the stock. Larger float makes it harder to manipulate. Shorts are playing with fire though because Blackrock is the largest shareholder of POWL shares. Would you have the balls to short against $10T Blackrock?
POWL should've declared a 5:1 split and it would've put the short's nutsack through a woodchipper.
I did end up taking a position and am happy with it. I'm not concerned with interim noise and believe it has found support above my entry price so long as they don't crap the bed in a subsequent ER.
