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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: MJ who wrote (58149)	3/28/2007 4:52:09 PM
From: lexi2004	Read Replies (3) \| Respond to of 59879

MJ...Decided to look at the chart again before I close down. Here's what I did: Used today's HOD 5.62 and the LOD of 3.61 for fibs. At 4.78 the gap is filled. I think the stock will probably go to at least there. Then it could possibly go to the 50% fib which is 4.62. For an upward target, there is a 1.618% fib at close to $7 and there is also a TL. What confused me today was the volume. Due to the volume being so high so fast it made me feel that this run would have substance behind it and that being in the $5's was a positive for potential institutional investors. I'm not saying that didn't happen; however, if you look at the candle and see the long wick at the top you can see that the sellers were definitely in control towards the EOD. If the stock had remained strong towards EOD, I would have thought that gap to fill not important for sometimes on gaps with huge volume they stock is considered a "continuation" play and just moves up and doesn't necessarily come down in the ST to fill the gap. As I said, I kept some IRA shares, but sold my trading shares. My plan is to buy in partials if it dips under $5 and in particular around the gap. I'll probably start out with a smaller partial and as the stock moves down, buy larger amounts. Over and out...:) Lexi