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Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (17585)	4/24/2006 9:39:44 PM
From: Dennis K. Showers	Read Replies (3) \| Respond to of 23958

Ray, My Price Range Preference would be a low of 10, a high of 30 and a uniform oscillation between the two! ;) But, seriously, I did give some thought to it this afternoon and in fact made an entry position at 21.56. I will double my position on a move over 22. Here is my logic. The stock is in an uptrend from it's low in April of 2005. The first leg of the rally stalled at 19.75 and it failed there twice. It broke through that double top with tremendous volume and quickly rose to near it's high where it recently corrected. The correction appears to have stopped on April 12 at the horizontal support created by the old double top and it closed just above the 144ma. On that day a hammer candle formed on nearly 6x normal volume and received confirmation the following day. Since then a bull pennant has formed and the breakout is eminent. I believe that it will break out to the high side and move quickly back to 24-25 before possibly correcting again around 30.