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Strategies & Market Trends : Aardvark Adventures -- Ignore unavailable to you. Want to Upgrade?

To: ACAN who wrote (7619)	11/16/2010 1:06:09 PM
From: Kevin Shea	Respond to of 7944

Take a look at CCK... this one was putting in 52 week highs.. I found it on a xo search on Oct 20. It looked good as far as the pattern, comparing well to what I look for. Scroll your chart back to that date, and look at the hard right edge. There are 2 things 1) very nice pattern, 2) strength from 52 week moves. Pattern is better than the one in early July with regards to the lower ADX. I entered and the plan was to wait 6-8 days, moving stops each day using the 60 (since the hold is ST). Scroll forward and I was stopped on 11/3 at a near top xo.. the real xo occurred a few days later, then the drop. Additional observations suggests that if the xo occurs at what might be, say a 52 week high maybe above 50 the bias is to actual use the signal to go short, even more so if the RSI is above 80. Check out LVS for that look. It is pinching now but with overall bear bias I am doing nothing, while the price remains under the 60MAs