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Friday, October 07, 2005

BCRX - 100705

1.) What did I see?
Sometimes you just see something, and you jump all over it. BCRX gapped up and the first three bars sold off to the 34MA. The fourth bar formed (IMO) a perfect hammer closing above the 34MA. Also note how the third bar left a long bottom tail - a bullish sign.
2.) What is the entry?
A break of the fourth bar high.
3.) What is the exit?
Entire position closed after $1 gain.

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