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Thursday, September 22, 2005

ALL - 092205

1.) What did I see?
A stong bar after a gap down and weak day that was slowly drifting lower. This sudden show of strength signaled what could turn into a powerful reversal. In addition, the strong green bar closed above the "retracement zone" of the previous day's high to the opening range low.
2.) What is the entry?
A break of the strong (ninth) bar high.
3.) What is the exit?
1/2 closed after $1 gain, the other 1/2 held and closed at the end of the day (watching price action around the 34MA closely).

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