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

To: lexi2004 who wrote (177029)	8/15/2008 3:51:29 PM
From: hotlinktuna	Read Replies (1) \| Respond to of 208838

Almost wish I hadn't come back Lexi! Took ELN gain just over $14 but a real downer to see CNEH trading at LOD near the close...over a $6k down day! Yikes...tuna

To: lexi2004 who wrote (177029)	8/17/2008 11:38:22 AM
From: bumblin bob	Read Replies (1) \| Respond to of 208838

Lexi....Plays like TWB are the same as a lot of others that you play, they just move a little faster. O.K....a lot faster. I'm not sure when you bought, but I usually enter these trades after they pass some kind of resistance, not as they are falling. I'll give you a recent example: KEM: I posted this over on the DCB board on the 6th Message 24825625 but it took until the 8th to get above $1.50. On a daily chart it looks like a quick move up, but if you look at it on a sixty minute or five minute chart you'll see the support and resistance points just like on the longer term charts....and the same "rules" apply as far as fib numbers, volume, etc.... With TWB, once you moved to a five minute chart the trends were pretty well defined....but on a daily or even a sixty min. they weren't. Both of those (TWB and KEM) were on their first bounce. Usually , they end before they reach the top of the candle.....but that's o.k. because a lot of times there is a second run at the top of the candle. On this run I'm looking for it to form a nice base like XRM has. You don't see many successful moves up without that little "bowl" forming, like the one here that took from the middle of April until the first week of May to form. stockcharts.com You've got two places you could enter on this second attempt. The first is the last week of April when it's trying to form a base around $1.50....or you can wait until the first week of May and buy when it passes the recent high of $2.12. I'd wait until it passes $2.12 because it could consolidate between $1.50 and $2 for months and months like a lot of the pharmas do after they get hit. Once it passes $2.12 it's a pretty quick trip to the top of the candle, which is where most of my trades end, unless there is a large gap to fill, then I hope it's got enough momentum to fill the gap too.