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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: lexi2004 who wrote (177014)	8/15/2008 12:11:26 PM
From: bumblin bob	Read Replies (2) \| Respond to of 208838

Since this is it's first bounce, I would say yes. but....I've found that usual resistance points like $9.25, $9.50 and $9.75 are often stopping points. I usually switch from a 60 min. chart down to a 5 min. chart after I buy. Looking at TWB now (on a 5 min.) it looks like it could still move higher from here ($9.23), but I'd set a stop at $8.99....or a 3% to 5% trailing stop if you can't sit and watch it. However...if this can get back above $9.75 by EOD, I'd use the 50% fib....which I think is around $11.75. Most first bounces don't do this though without a really good reason. Hope that helps.