HGSI Update (long)

HGSI was an earnings pick (@ $7.94) that did pretty well in after hours and several members made pretty decent money for a quick trade of less then 4 hours, however, even after earnings and a decline (reminiscent of RIMM which was an earnings play that didn't react well, but still had strong 3C positive divergences and ended up moving well above our earnings entry for a nice profit) HGSI continues to look positive, here is a post earnings update on the position.

Today HGSI is bucking the market which is a sign of strength, it's even bucking its sub-industry (bio tech) which is in the red while HGSI is up nearly 1%.

 HGSI daily seems to be building some sort of base and is up 1% today while the IWM is down -1.75%

 HGSI intraday

 Daily 3C chart, from  a top to confirmation to a positive divergence and what looks to be a large base

 The 30 min chart with a leading positive divergence.

 15 min

 5 min

And specifically, the last 3-4 days have seen increased momentum in the 2 min chart, remember when we have confirmed divergences through all the timeframes, we come back to the short term charts to look for the middle men to stock up in anticipation of a move.

Bottom line, I still like HGSI and still have a position there. Recent activity looks like it wants to move higher, despite the market which is uncommon.