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#1
06-18-2008, 12:22 PM
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Senior Member
Join Date: Dec 2007
Posts: 306
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Cake
Looking at a small short entry in CAKE. Anything above 17.50 on weak volume will get more attention. A test and break of 17.30 will get noticed. Pretty easy setup on this. Confirmation of the break of support will add to the position.
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#2
06-18-2008, 01:12 PM
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Member
Join Date: Jan 2008
Location: Cincinnati
Posts: 46
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I understand where you got your entry point from but I am seeing the momentum head higher on the daily and it isn't coiling enough for me to be interested in right now. I like the idea but if it breaks I don't see the slide to be violent enough as of right now.
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#3
06-18-2008, 01:26 PM
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Senior Member
Join Date: Dec 2007
Posts: 306
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great assessment and I agree. This trade needs to be in conjunction with the overall market if/when it breaks hard. My tentative plan is small entry with progressive scaling in as the volume/price warrant.
Thanks for the comments!! | |
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#4
06-19-2008, 12:47 AM
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Senior Member
Join Date: Dec 2007
Posts: 306
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setting up nicely.
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