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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From: chowder	2/22/2006 5:29:56 AM
	of 13449

MVK is a good example of trying to build into a long term position by taking advantage of swing moves. On 1/10 I presented MVK as an intermediate to long term hold. I reported taking profits on 1/2 of my position when price hit my profit target of $4.00 per share. 1/2 position ... up 9.4% Still holding 1/2 position at that time. On 2/14 I reported buying another full position in MVK, now holding 1 1/2 positions, the only stock I was overweighted on. I sold that full position into strength yesterday, using that same $4.00 profit target, for a 9.1% gain and am still holding 1/2 of the original position. I will buy back that 1/2 position on either a break out or a correction into support. The point is, that with a very nice gain, on an overweighted position, I can allow a little more room via my stop if price continues higher. I'm to the point that I can look to the weekly chart for my pivot lows. I don't know where MVK finally ends up, but the only way to increase the odds of a successful trade is to watch the swing highs and lows, use good entry points and be sure to stick with the stops that are set in order to prevent a successful trade turning into a losing one. stockcharts.com[h,a]waclyiay[d20050222,20060222][pb10][vc60]&pref=G dabum

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