Ballard Power Systems (BLDP)

Company

"Ballard Power Systems is recognized as the world leader in the design, development and manufacture of zero-emission proton exchange membrane fuel cells. Ballard is also commercializing electric drives for fuel cell and other electric vehicles, power conversion products, and is a Tier 1 automotive supplier of friction materials for power train components. Ballard's proprietary technology is enabling automobile, bus, electrical equipment, portable power and stationary product manufacturers to develop environmentally clean products for sale. Ballard is partnering with strong, world-leading companies, including DaimlerChrysler, Ford and EBARA, to commercialize Ballard® fuel cells. Ballard has supplied fuel cells to Honda, Mitsubishi, Nissan, Volkswagen, Yamaha and Cinergy, among others." (company website)

Buy

27-Nov-06. Ballard's uptrend continued after the earnings report. There has been a pullback after breaking the $8 level.

• Price momentum (PPO) — picking up overall, with slight slowdown recently
• Trend (ADX) — strengthening, although buying pressure (+DI) fell off during pullback
• Money flow (CMF) — inflow is slowing, on verge of becoming negative
• Relative strength (RSI) — general increase in strength, with slight recent weakening
• Volume — average volume fairly consistent

Unfortunately, right after my buy order executed this morning, Wall Street went on sale; I can only hope that the frisson is only temporary and not enough to disrupt BLDP's uptrend.

Sell

5-Dec-06. BLDP fell below my stop-loss activation price this morning, and the shares sold for $6.76. It is quite possible that this is just the end of a pullback from the high at $8.02, although that is not visible in the chart (at least to me). However, MarketEdge shows BLDP as a "strong buy" with a "strong upward trend."

I may jump back in again, but I will wait until there's something in the chart that convinces me that the pullback is finished.