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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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To: Ken Adams who wrote (2240)2/11/2005 4:58:36 PM
From: chowder  Read Replies (2) of 13449
 
Ken,

Yes, the AIRT trade triggered for me. I wasn't at the computer either when it did. I placed a buy limit order, good till cancelled, a couple of days ago for $20.55. When the price got up to that buy point, the order kicked in.

I've talked about buy limit orders before. They are one of the greatest tools for the short term trader. If you know what point you want the trade to trigger, you place the buy order ahead of time and don't worry about it. It prevents you from freezing up too, in the event prices are moving so fast you actually hesitate and the price keeps going without you.

Sometimes I place the order for the day, sometimes GTC. If a GTC doesn't kick in within 3 days, I cancel the order. You can place day orders if you wish and adjust the price daily.

The pull back after the explosive run up was when the price ran into the 100 day moving average. I think AIRT has enough momentum to break above that resistance level and hit our price target. If not, the stops are in place.

Money flows are strong and MACD is showing a strong trend with very positive fuel cells.

stockcharts.com[h,a]daclyiay[d20041111,20050211][pb50!b100!f][vc60][iut!Lah10,30,5!Lc20]&pref=G

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