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Wednesday, January 21, 2009

January 20th, late update.

Here are Tuesday's charts with notes. The price plummeted below my pivot points altogether so in keeping with my rules I would not have entered a trade at the bottom as I had no reference as to where the bottom may stop. I could have traded it and just went with the quotes and sentiment and done well enough but for historical checking that is too subjective a trade decision to be able to say "would have". So trades would not have been entered until the PPs were back in play as indicated on the charts


Four trades for 45 cents per share gain.

HED, on the other hand, started well within the realm of the pivot points which made it a good early trade entry. In fact I had this one on my order box before I got called for another issue that required attention.

R1 was at $18.58. My order was set for $18.55...Due to the interruption I did not hit the "BUY" button. The price, I saw afterwards, dropped to $18.50...so I might have even got a better price than my order. Normally I would target the next PP being R2 but the price was cleanly shooting up as the market was dropping. Holding right up to almost $20 would have been a no brainer as I just used the quotes and sentiment and exited when things cooled down.

I would have finished trading after the one trade as it would have been a nice $1.40 move.

Jeff.

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