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Tuesday, September 13, 2005

SNDK - 091305

1.) What did I see?
A gap up - above the 34MA (blue line), with strong first three bars. The fourth bar was a narrow range, and hammer.
2.) What is the entry?
A break of the fourth bar high.
3.) What is the exit?
The Fibonacci extension of the previous day's low to the opening range high (top white line).

Notes - I usually close 1/2 at the exit listed above, and assess the price action before closing the other 1/2. Sometimes the stock will set-up and take off from that extension.

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