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Scooped up CMT at 9.22. I was out jogging when it hit 8.75. Oh well 
Bullish finish, close near highs, for all three I've been discussing today.
Bullish finish, close near highs, for all three I've been discussing today.
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B.J. bold move on CMT. I’ve not looked into the intraday chart, but notice the lower highs and lower lows. When I find a stock like this I’ll let the market structure low show me that it is a low. I see a few MSL failures and this would concern me. Just my take and I’m not sure what you used for trigger long. Anyway best wishes with this one and might it reverse for you and make a quick trip to 13.00
Skiracer posted some ideas. One was DNR I was bearish on it until the market structure low was confirmed. Pull up a 3 month daily on it and see what I mean.
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What do you mean by "Market Structure Low". Is this just an area of support?Comment
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Link on MSH/MSL http://www.enthios.com/Primer_buildingblocks.htm
Some traders will use the 3rd candle off the MSL as the trigger. Note this works in any time frame!Last edited by Guest; 07-01-2005, 07:53 PM.Comment
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Runner, you make some excellent points. Here's what I saw:
1. Channel long bounce off the 8.75 low (Raff Channel tracing from the 4.50 low on 4/1
2. Supported 50 day moving average
3. It's one hell of a nice looking doji. Very long lower shadow indicates strong support at day's end. Gap up at open, and continued strong Monday would complete a Morning Doji.
That all said, yes, I am being careful with it. If it gaps up at the open Monday, I'll be on the gaurd for a move lower. If it opens lower, my stop will be just below the 50 DMA (that'd be <3%).
I do appreciate the input, though. Happy ID, Runner.Comment
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One thing, in addition to what you said, Runner, that would concern me was the average trading volume on CMT today. I'd like to see above average trade on a reversal. It was an increase over the prior two days, but that doesn't say a lot.
As I said, I'm being carefulComment
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I know spikes channels are powerful and if you saw the bounce great. One more thing on the MSL’s I will often use then as my stop. If price fails below the MSL I don’t want to be in the stock because now another low is possible.
BJ you seem to have a plan and I wish ya the best!!Comment
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Sorry wrong thread!Comment
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Pretty clear what happenedOriginally posted by Runner That was a pretty short stay...
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Been a good day thus far. VPHM rocking, ABLE up. Part of me wishes I had stuck out CMT, but, oh well... must maintain my trading discipline of honoring stops.Comment
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I hate to admit it, but I think I just fell in love with VPHM. My account is looking good today!Originally posted by B.JComment
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I'm very happy with VPHM, Webs!
Cashed in on ABLE for a 1.30 (8.5%) gain. I'm happy with that for three days' work.
I think ERS is beginning to find support in the low 8's.
One day early with CMT
Can't win 'em all. Actually $$MM$$ does.
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Xwg
Anyone have any thoughts on XWG, has popped up on a screen several times but ive never pulled the trigger . ?????????????Comment
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Thanks Grebnet. Seems pretty good, fundies-wise. Possible chart bottom as well.
You may have mentioned this before, but what scan do you use? You seem to find some good ones.Comment
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screen
I took a screen that i got from Stenzrob and varied it a little;
http://moneycentral.msn.com/investor/invsub/finder/finderx.asp?Query=SV1QF150Z04L25ZF151Z04L10ZF136Z0 0F138Z05L4ZF115Z04L30000ZF116Z04F118ZF253Z04L70ZF3 07Z04L85ZF137Z05L0%2e2ZF134Z04L2ZF3Z04L1%2e5ZF234Z 05L5000000000ZF166Z04L0Z&Name=myAccel%20RevQY%2bPr ice36&Tickers=25Comment
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