Ahh Canada - 2 out of 3 ain't bad Message Board

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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad

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To: Davy Crockett who wrote (2808)	6/13/2001 12:16:32 AM
From: Tom McIlwain	Read Replies (2) of 5144

What in your opinion would have been the better way to play this POS. KHD.TO IMHO, FWIW etc. etc..... Hard to tell where it will go from here. Lower volume stocks are more unpredictable. By taking a position while the stock was consolidating under 3.25 you were assuming the break would be to the upside and it went the other way. My preference would be to wait for a breakout above $3.25 and then buy the first pullback provided it stays above (or quickly returns above) the $3.25 level. In other works, old resistance is now support. Here's an interesting example of a successful breakout/retracement/continuation. stockcharts.com[m,a]daclyymy[p][vc60] Notice break through previous resistance around $27.50 in mid-May followed by pullback to that level and then...zoom. Textbook! (like most are not). Notice this is based entirely on patterns. I couldn't care less here about MACD MA STOCH ADX etc etc etc..... Tom

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