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Strategies & Market Trends : TA setups-ex th traders

DIA 487.87

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Dec 11 4:00 PM EST

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To: Todd C. who wrote (5447)	1/25/2005 9:07:47 AM
From: dfs405	Read Replies (1) of 7682

Todd- as I look at PRAA I can't help but see a negative chart--I see a trend line from the lows on 9-23, 10-25, and 12-9----all forming an ut line which broke on 1-4-05---the pattern since that failure has been a bearish flag or rising wedge back up to the same trendline with the highs on 1-23-05 touching that line--so we have the expected retest of the ut line after the ut trend line break, and a pull back from that line--also the past few stick highs have been right at the gap from 1-3, and 1-4-05---and even though it went slightly above the gap, it should not be discounted as an area of strong resistance, especially on the first attempt to get above it---just my two cents -- we will see :-)----good luck---one last piece of advise--if you can't watch the charts at all during the day--you might want to switch to stocks that are trending instead of trying to pick reversals--much like GP did with KMRT and AAPL- they do not require as much watching and stops work well once they get away from the purchase price-- :-)

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