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

To: rchlrvn who wrote (8613)	3/25/2006 8:03:57 PM
From: chowder	Read Replies (1) \| Respond to of 13449

Re: LU ... At the time I mentioned LU, it looked like LU had an opportunity to build on the strong open. I posted very early in the trading session. Since LU was unable to build on that price gap, and did indeed pull back, I don't consider it a very good candidate now. LU was unable to trade above the opening 30 minute high the rest of the day, nullifying any interest on my part. In fact, one would have had to move fast to buy LU above the opening 5 minute high. It opened at $3.12 and momentarily traded up to $3.13 before starting back down. After the first 10 minutes of trading, LU never even came back to $3.13 which was just a penny above the open. stockcharts.com[h,a]daclyiay[d20051225,20060325][pb50!b20!f][vc60][iut]&pref=G LU is a good example of why my favorite gap strategy is waiting 30 minutes to see how the stock trades and then buy above the first 30 minute high. dabum