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Strategies & Market Trends : Strictly Buy and Sell Set Ups

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To: chowder who wrote (11466)	3/8/2007 8:02:09 PM
From: chowder	Read Replies (3) of 13449

Re: TESOF ... I took an intermediate to long term position in TESOF, as I mentioned earlier today. TESOF broke out to a 52 week high on huge volume. This indicates the move is supported by professional money and indicates we could be seeing the beginnings of a new leg up. After setting a new price high back in May, TESOF saw a price correction where most of the pull back was on low volume. This is bullish because it indicates that institutional money wasn't selling. They should provide strong hands on any correction. Note the OBV (On Balance Volume) indicator. It is showing that TESOF is under accumulation, adding strength to the break out. Also note the RSI (Relative Strength) indicator. It is now above 70 and this is the range where stocks often have their most explosive price moves. TESOF has a lot going for it. Entry $22.90. Profit targets $4.00 - $8.00. Initial stop loss $20.00.

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