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Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: Bob V who wrote (2121)	2/4/2005 8:57:29 AM
From: chowder	Respond to of 13449

Bob, Normally I give a stock 5-7 days to perform. I don't have a written in stone rule to tell me what to do here. I have lowered my stop to help the trade along. I have kept it open as long as I have because of the long range bearish bars in the past two weeks. The first appearing on January 24th and then we had 3 days of consolidation. Then on January 28th, I saw another wide range bar setting a new low. Then four days of consolidation. I think it will stop out today or Monday if it doesn't fall today. I have shown patience here because the trade was still profitable and I'm still seeing distribution over the last couple of weeks. I haven't seen a wide range bullish bar yet so I thought I'd hold a couple of extra days. Maybe I should have already covered. I had a great deal of comfort showing patience since the trade won't provide a loss unless some news comes along and causes the price to gap up beyond my stop. If it happens, it happens. It's not something I concern myself with. dabum