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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: ChanceIs who wrote (101758)5/30/2008 4:35:11 PM
From: chowder  Read Replies (2) of 206296
 
>>> What are you doing with WNR??? Taking some off the table here I would think. <<<

I have shown my strategy on how to take profits via strong up moving stocks before. I will review that strategy again.

I use an indicator I call "Momentum Bands." They are the Bollinger Band indicator set to a 10,1 setting as opposed to a 20,2 setting.

Once price moves above the upper band, you stay with the trade as long as price continues "to close" above the upper band.

When price closes below the upper band, for the first time, I sell 1/2 of my position. I sell the remaining half once price closes below the middle band in most cases, sometimes when price closes below the lower band if the bands are close together.

No need to jump the gun and take profits while price continues to close above that upper band, while those bands are headed in a northeasterly direction.

This simple little indicator allows you to maximize those steep upward price moves.

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