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: Big Dog who wrote (2426)	2/24/2005 4:40:23 PM
From: chowder	Read Replies (1) of 13449

>>> The Dog sold SHORT...PTEN at 24.58. <<< My stop has me out of PTEN. I had it set at $24.80 and the stock closed at $24.92. I'm not convinced PTEN won't drop from here but I'm not going to argue with the price momentum either. We now have a hanging man pattern with PTEN which is a potential reversal pattern. Key word being potential. We've been there and done that before and potential didn't work out. I will short PTEN again if it can drop below $24.00 in the next day or two. I'm out for now because I don't want to need a huge move just to get back to even. A nice move down from here would provide a decent profit and I'd happy with that. stockcharts.com[h,a]daclyiay[d20041124,20050224][pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G dabum

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