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

To: shades who wrote (7230)	1/18/2006 5:48:23 AM
From: chowder	Respond to of 13449

>>> Ok thanks for the 3-5 day reversal only working off 30 day highs - I will try to remember that - I shorted FDX anyways - up about 2% so far. <<< To recap. When you asked about the 3-5 bar reversal, that's a pattern you are looking to take a long position with. FDX was not showing a 3-5 bar reversal, a pattern that should see price go back up and test recent price highs. FDX was showing a pattern that was shortable once price traded below the 50 day moving average. >>> Keep in mind, once price trades below the 50 day moving average, FDX is shortable, so placing your stop just below the 50, is the prudent thing to do. <<< stockcharts.com[h,a]daclyiay[d20051018,20060118][pb50!b20][vc60]&pref=G Good job with the short! dabum