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Saturday, July 22, 2006

AMD - 072106; 30-minute chart

In "Comments" Friday, someone asked about a short entry in AMD (on a break of the sixth bar low).

It was a good trade - the sixth bar was not exactly a "hanging man", but it was a narrow-range (NRM), inside bar that closed weak and directly on the OR low. The next few bars broke below the OR low and pulled back to re-test it as resistance. AMD then proceeded to fall the last hour and provided a total return of just under 4%.

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