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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Vendit™ who wrote (4384)	1/29/2005 12:29:13 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 8752

Hi Reid, That's a pretty good short, with a target at the 20 ema. That level should be fairly solid support, since GIS is in a strong uptrend, and there is a stairstep series of bullish power candlesticks that formed as GIS crashed through overhead this month. Together, these should stop a correction at about $51.50. 139.142.147.218 But given the fact that GIS is in a strong uptrend, I think I would be prepared to exit anywhere below $52. There's a slim chance GIS could correct all the way back to support at $50. So, one way to play this would be to set a stop just above $52 if GIS trades below that level, then adjust the stop downward every day if possible, and keep it tight. T