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AXYX

 
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skhalil guest
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PostPosted: Thu Jan 20, 2005 2:27 pm    Post subject: AXYX Reply with quote

AXYX did a Bullish Engulshing yesterday after an abondan baby type signal, should this be bought today if move higher. any thoughts.
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tab321
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PostPosted: Thu Jan 20, 2005 3:27 pm    Post subject: AXYX Reply with quote

I dont see anything "abandoned" about the doji of yesterday. It is true that you have a morning star type set up but it is not an abandoned baby to my thinking. As far as a "Buy Signal" - you do have one. And, today the signal of yesterday is holding up.

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AXYX did a Bullish Engulshing yesterday after an abondan baby type signal, should this be bought today if move higher
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abbo



Joined: 12 Sep 2004
Posts: 148
Location: australia

PostPosted: Thu Jan 20, 2005 5:37 pm    Post subject: Reply with quote

With the time difference I get to see these charts after your close of trade so I have an edge in the post mortum however, I would not have entered this trade on the morning of the 20Jan
A morning star signal should, to my way of trading, be entered most times on the opening of the market the following day in order to be sure the buyers are still around. This stock opened well down in virtually a kicker type setup. Even if it had climbed during the day my entry would have been delayed until at least the last bit of trading to ensure it was going to stay above the close of 19jan (taht is it would have formed another bullish engulfing signal which hopefully would have been supported by the overall market on the up. If not wait for opening the next day). The end result of the doji/spinning top means I would put a close watch on this one as it had some virtues in a down market and may be a strong opportunity when the overall market becomes bullish.
I guess it is a case of good signal wrong time
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n7kon



Joined: 09 Oct 2004
Posts: 52

PostPosted: Fri Jan 21, 2005 6:12 pm    Post subject: AXYX Reply with quote

Looking at this one I would say if it does not stop at $5 which I donít think it will I would look at a trade around $4.5 only if you had a good 3 day candle formation and you see the stoís and MACD turn up. Stoís should be at or above 20 and MACD should be turning up with a histogram reading of 0. But to be honest I think you will see this hit at least $4 before it really starts up any at all. I would look for another stock to trade.
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Dip Stick
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PostPosted: Sat Jan 22, 2005 2:36 am    Post subject: AXYX Reply with quote

My trading plan would not allow me to take this trade for two reasons.
1) The price is below the 200ma and for long plays the old old saying about "bears live below the 200ma and bulls live above it" works for me.
2) I guess I'm fussy but I have to see improving volume to pull the trigger.
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