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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (10991)4/23/2002 10:40:28 AM
From: TheBusDriver  Read Replies (1) | Respond to of 36161
 
Well TA wise when a stock gaps up for some reason that is unknown to me the gaps eventually get filled. Sometimes it takes days and sometime a lot longer but at some point the stock will retrace to the point of the gap, thus it is "filled".

Check out the chart on BAY for an recent example.

Watching MFL here closely, if there is not very much strength here I will take some profits.

EDIT: Before somebody posts it here there are instances where the gaps never fill, but it is very unusual.

Wayne



To: Frank Pembleton who wrote (10991)4/23/2002 10:49:08 AM
From: kirby49  Read Replies (1) | Respond to of 36161
 
Frank:

stockcharts.com

click to the various kinds. Only one open daily that I see on MFL when it broke out from 3. LT bigchart shows it was a good long term range trader in mid 90's.

Maybe it'll become my first trade, now which way to sell? GTC at 5.20 for a 4 bagger or stop at 4 and back in at 3 when the gap is filled? Ya get rusty on the sell side after a year.

Regards

Bob


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