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ULGX

 
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Juke



Joined: 30 Jan 2005
Posts: 2

PostPosted: Sun Jan 30, 2005 12:19 pm    Post subject: ULGX Reply with quote

Gap up after a morning star pattern. 1st target 50sdma currently at 6.20(16%) stop ? bottom of gap is 4.97(7%), mid point of white candle is 5.20. Any thoughts on proper stop?
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sailorboy



Joined: 30 Jan 2005
Posts: 30
Location: Malta

PostPosted: Sun Jan 30, 2005 4:58 pm    Post subject: ULGX Reply with quote

Hi juke

ULGX made a nice move since gap up following the doji of 1/25. It is sitting 14 points below the 20 sma. I would protect my profits by using a stop midway the candle of the 1/28 i.e. 5.20 just in case it does not make it throught the 20 sma. Chart looks quite strong and the doji formed a double bottom more or less with November lows so it is comming out of a bottom and seems likely to reach the 50 sma but it is still in a longer term down trend so it might pull back on the way up. It makes sense to protect profits and come back in if it takes you out at 5.20. My opinion for what it is worth.

Good luck and hapy trading.

Sailorboy
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cmant1



Joined: 22 Jan 2005
Posts: 17

PostPosted: Sun Jan 30, 2005 6:40 pm    Post subject: Tough call for me Reply with quote

This one is tough call for me I have been looking at teh chart see how it performed. Came through the 20 I'm going back to the channel around the 11/04/04 may make a move to the 6.60 area.
MACD & Sto moving up I just don't see much vol. or real money coming in.
I wouldn't be trading this one for myself. Just my opinion money seems to have been coming into medical area over the last week.
I just don't see the money flow coming into this one.
45 pe short interest 6.45 area just my opinion. Morning will tell all.
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abbo



Joined: 12 Sep 2004
Posts: 148
Location: australia

PostPosted: Sun Jan 30, 2005 7:15 pm    Post subject: Reply with quote

I would use a tick below fridays low as my stop on the close of trade on monday. Approaching possible resistance in the 560 area (last Nov04) and then 50MA and trading in Dec04
If it moves up from here then I would raise the exit point to the top of fridays candle and protect profits
Hope this helps and not confuse
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Juke



Joined: 30 Jan 2005
Posts: 2

PostPosted: Sun Jan 30, 2005 11:13 pm    Post subject: Reply with quote

Thanks for the replies. Tomorrow will be interesting. The way the markets have been behaving lately I'm not too anxious to jump back in. With the Iraq election over we should have a bullish opening. I may just wait to see if the markets can hold any morning gains. Good luck to all.
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