Clearwire 4G and Wimax Network

Clearwire - Ticker $CLWR

I've been doing some research on this company - it first came to my attention with the release of the first 4G phone by HTC (the evo).

I understand that 4G is sort of a way to market hype for their product - as a matter of fact, it's not even technically as fast as T-Mobile's HPSA (SOURCE: PHONESCOOP), but this could be something that can grow. I'm not sure if I could call the BS trigger on this stock at this point - as you all know I honestly couldn't care less if this company made their 4G network work, I only care if they can make me money within the next month.

Chart:

The resistance at 8.59 goes out on the weekly chart - this company didn't have too much trouble in the fallout recently and has held up well in a down market.

I'm looking for a buy trigger around 7.80 off the trendline with a short stop around 7.55 below 23.6% fibonacci retracement, but honestly it's sketchy going long in this market.

I took some longs in $TOL friday and so far I've been molested because it is losing the trendline. If $XHB shows any more weakness I may, honestly, switch and short the hell out of it. This is a very difficult market right now, however, and swinging is gambling at this point. As of right now $XHB is holding the 200 ema support I'm looking for - so we will see if it holds.



Some basic info on $CLWR:

Short Interest (Shares Short) 23,502,100 Days To Cover (Short Interest Ratio) 6.9 Short Percent of Float % Short Interest - Prior 21,612,000 Short % Increase / Decrease 5.54 % Short Squeeze Ranking™

% From 52-Wk High ($ 9.42 ) -15.50 % % From 52-Wk Low ($ 4.22 ) 88.63 % % From 200-Day MA ($ 7.27 ) 9.43 % % From 50-Day MA ($ 7.66 ) 3.97 % Price % Change (52-Week) 73.04 %

Shares Float 0 Total Shares Outstanding 945,510,175 % Owned by Insiders 36.50 % % Owned by Institutions 57.00 % Market Cap. $ 7,507,350,790 Trading Volume - Today 471,875 Trading Volume - Average 3,406,600 Trading Volume - Today vs. Average 23.85 % Earnings Per Share -1.85

Data from shortsqueeze



Some statistical info about ascending triangles:

Important Bull Market Results

Overall performance rank for up/down breakouts (1 is best): 17 out of 23; 9 out of 21

Break even failure rate for up/down breakouts: 13%; 11%

Average rise/decline: 35%; 19%

Throwback/pullback rate: 57%; 49%

Percentage meeting price target for up/down breakouts: 75%; 68%

Characteristic	Discussion
Price trend	Can be any direction leading to the chart pattern.
Shape	Triangular. Prices move between two converging trendlines.
Trendlines	Two trendlines bound prices; the top trendline is horizontal and the bottom one slopes upward.
Crossing	Price must cross the pattern from side to side, filling the triangle with price movement, not white space.
Touches	Price must touch each trendline at least twice, forming distinct valleys and peaks.
Volume	Trends downward 77% of the time.
Breakout	Upward 70% of the time and 61% of the way to the triangle apex (upward breakouts) and 62% of the way for downward breakouts.

SOURCE: Bulkowski's Blog