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: chowder who wrote (8833)	4/2/2006 11:22:41 AM
From: lexi2004	Read Replies (1) of 13449

Dabum...I believe, in essence, I'm saying what you are here about if a move is good, you don't have to worry about getting in on the very start of it. Course we would all like to do so, but IMHO there are lots of times that just doesn't happen. For example: I'm looking at QUIK...It b/o of an ascending triangle,and that looks to be around 5.40. The stock ended the day on Friday at 5.74 so we've missed out on a portion of the move up; however, I don't always concern myself in getting in at the lowest part of the move up as long as I feel there's enough in the move ahead to make it worth my while. Now ideally, it would move back and perhaps touch that area or close to it again; however, for two days the LOD has been close to that b/o. In trying to determine potential profits without even consulting fibs, it looks to me that the left hand side of that ascending triangle is from 3.67 to 5.35. That would be $1.68 range that I would add to the b/o at 5.40, making 7.08 the potential target. 7.08 - 5.74 (current price) = $1.34 potential gains. Have I figured this even close to what you would have?:) Lexi

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