Wednesday, November 14, 2007

HSOA- Best Gain in a Long Time

I was looking around my watch list for about 25 minutes looking at a lot of charts and to see if I could spot a strong one. I almost bought RDN and LEH which would of been at their peaks but I didn't buy them. Something about them didn't seem right. I came across HSOA and I loved the momentum it had and it was backed by the strong volume along with going against the QQQQ's (something I've really been keeping an eye out for). I also loved how it was flattening out under resistance but still making higher lows. I hesitated to get in at 2.39 and sure enough I saw it blast through resistance. I got my order in at 2.45 and unloaded my first lot at 2.48 and then again at 2.53


I didn't raise my stop that much because it flattened out a bit and I didn't want to be too aggressive so I left it alone. When it started blasting up like crazy is when I really started moving my stop to break even and then to 2.60 which I got close to be stopped out. Once the blast off seemed to settle I saw the selling pressure increase for the first time since this whole move and I figured a decline was coming. I was happy with what I made and decided to unload the last 50% at 2.67 Another wise move as it ended up falling to about 2.56 as I'm writing this and watching the chart.


hsoa trade chart

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