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

To: sam_n_cctx who wrote (2167)	2/7/2005 7:03:26 AM
From: amoezzi	Respond to of 13449

Buy it but do not sell it. TIBX is one hell of a company. It is going to be a winner long term!!

To: sam_n_cctx who wrote (2167)	2/7/2005 9:31:56 AM
From: chowder	Respond to of 13449

Sam, although TIBX is showing improved technicals, it wouldn't qualify as one of my buy set ups because there isn't enough reward before running into overhead resistance at the 20 and 50 day moving averages. That doesn't mean the price won't go higher, I just prefer not to buy this close to resistance. If there is something fundamentally with this company that is pushing your button, then that's another story. I look for patterns that have a high probability of success with a minimal amount of risk. Even if TIBX breaks through resistance on the first attempt, it isn't the type of set up that one can repeat with a high level of success. Just the way I look at things. dabum

To: sam_n_cctx who wrote (2167)	2/8/2005 4:50:01 AM
From: chowder	Respond to of 13449

Sam, If you will recall, you asked my opinion on TIBX yesterday before the market opened. Here was my response: >>> Sam, although TIBX is showing improved technicals, it wouldn't qualify as one of my buy set ups because there isn't enough reward before running into overhead resistance at the 20 and 50 day moving averages. That doesn't mean the price won't go higher, I just prefer not to buy this close to resistance. <<< TIBX got off to a great start early in the trading session, reached just above the 50 day moving average and pulled back. stockcharts.com[h,a]daclyiay[d20041108,20050207][pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G Keep in mind, my time frame is 2-5 days. I'm looking to capture short term price swings using high probability set ups with a minimal amount of risk. There wasn't enough reward to warrant the risk of making the trade yesterday on TIBX using my time frame for trading. If one is using a longer time frame or something fundamentally warrants a trade, then that's different. I'm merely presenting yesterday's price action on TIBX as an example of why it didn't meet my buy set up criteria. dabum