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: Paul Kern who wrote (4331)	6/20/2005 5:34:57 PM
From: chowder	Read Replies (1) of 13449

Paul, very nice set up on CPN. I apologize to you for not thinking about another way to play CPN. Since we are dealing with a low priced stock, the normal entry set up, which you properly identified, would have you giving up too much gain before entering the stock and present too much of a loss if the stop was taken out. In the future, I would look at the hourly chart to better tune the entry. A lot of my stops are based on the hourly chart, I just didn't think about using the hourly chart as an entry for CPN. If I had, I would have noticed that $3.30 would have had price above the 20 and 50 period moving averages and the hourly chart would have been showing strength. If one is going to fine tune an entry off the hourly chart, it's important to use your stops on the same time frame otherwise the risk to reward ratio doesn't end up in your favor. I would only consider this strategy on these low priced stocks. stockcharts.com[h,a]daclyiay[db][pb50!b20!f][vc60][iut!Lah12,26,9!Lc20]&pref=G Congratulations on properly identifying the trade though. dabum

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