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Strategies & Market Trends : Chart Formations

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To: Casaubon who wrote (800)	6/16/2005 10:41:37 PM
From: sean sanders	Read Replies (1) of 967

FNM - Well even if the upside looks only short term; I think a nicely set up stock like that is still worth it. Nothing like a nice chart like that to play for a 4-5 point gain. And besides the 58 level of the floor is a nice place to put a sell stop. It will probably stall at the 61 level before deciding where to go next. ya I'm dissapointed with my TASR play but oh well; least the move wasnt that big on the downside. I see it in a range I just didnt see that the range was this far down; was hoping to play a breakout; I got in on 6/13 thinking wed break out of there but we just gapped and then filled it then went down to touch a trendline. We had 2 pieces of positive news and the stock couldnt get off the ground; must be too many people shorting the thing.

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