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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (2475)	1/19/2001 7:14:50 PM
From: Jenna	Read Replies (1) \| Respond to of 6445

EPNY marketgems.com EPNY had a better situation than RBAK. Here we set the trigger to 38 and although EPNY gapped up it closed at 38 3/16 not so bad, after a little morning consolidation it moved nicely above the 20 period average on the 5 minute chart and we were home free and EPNY moved to a high of 40 7/8 exactly when the Nasdaq 100 futures pulled back in a three bar downtrend. What to do? Well you can take your profit and be on your way if elected to up your trailing stop to break even, you would have eventually been stopped out with nothing lost. EPNY is not the kind of stock we wanted to hold through thick and thin since it is fresh from a correction. We get out and reevaluate again Monday, this time I think the buy trigger will hold up. Since the price at the close was 37 5/31 I'd leave the buy trigger at 38. Trading is not an exact science, trigger sometimes give you a few points but than pull back. I would much rather wait for a chance at a beefy trade in EPNY next week remembering those three lovely days of 3 rising White Soldiers (9-11th) even if you didn't hold all three days although we suggested you do, an entry was possible every day and the intraday trading range was terrific. Don't give up on those high flyers, I usually retest buy stops for 3 days before giving up. (I missed the beef of EXAR because I gave up) but I'm in EXAR now and hopefully can still make my target of 40 albeit later than I would have wanted.