TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... Message Board

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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: Mario :-) who wrote (54401)	4/4/2006 4:29:39 PM
From: lexi2004	Read Replies (3) of 59879

Mario...Think you will do well with those shares. I only have an IRA position that I buy/hold and on dips I average into it. Today bought some at low $7s and went out, came back and it was low $6's. Bought more at that lower level. When I bought the shares earlier today, it looked like there might be support in that area; obviously it didn't hold. Since I only buy partials, it worked out okay, but of course would have been better if I had only bought at the lower amount.:) Here's what I see with NVAX: 1. It did a run from August to a high around $6 in October. I counted that as my numbers for my fibs. 2. After pulling back 62% of that run and hitting below 3, it took its time but finally went above the 127.2% fib extension, hitting the high of over $8. 3. Today when it dropped it hit an area I believe has good support due to the fact that it was a previous high and a pull back twice. 4. If it does what I think it will do, it may base in this area for awhile and then move back up through the 127.2% fib and on to the 161.8% fib which is approximately $9.12. We'll see if I'm right or not.:) Lexi

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