Strictly Buy and Sell Set Ups Message Board

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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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To: Ottrose who wrote (7000)	1/9/2006 1:19:01 PM
From: chowder	of 13449

Re: SNDK ... I don't know whether you are looking to get in or looking to take profits. I'd like to review the 2 buy set ups that appeared with SNDK. In looking at a weekly chart, we see a rising 20 week moving average above a rising 40 week moving average with a comfortable distance between the two. This is a bullish alignment. When you have a bullish alignment, every pull back into or near the rising 20 period moving average is buyable. This was buy point #1. Buy point #2 was when price broke above the recent high, clearly shown on the accompanying chart. ttrader.com If looking to get in, I would not do so at this time. I would wait for a consolidation on the daily chart. Maybe a 3-5 bar reversal, maybe a pull back into a rising 10 day moving average, which is often a good buy point on a strong uptrending stock. If looking to take profits, I would track the lows. As soon as price drops below the low of the previous day, I would take some profits. In the case of a price gap, like SNDK showed today, selling under the previous bar's low gives up too much ground. In this case I would set a stop under today's low. dabum

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