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Hey Guys....Last 2-1/2 days trend above looks like some profit taking by inst sellers....we'll see if 20 DMA support shows up or not for those you added to their positions during the 3 wks tight breakout
Bought TDG @ b/o. Closed position today for a quick 13% profit. This is the kind of stock I think you should grab any profit while you can. Stock tried to b/o of 3 week tigh and failed on big vol. I do not want to overstay my welcome especially when NDQC testing 3000. I will take position again if institutional support comes and stocks breaks above 121.48.
Hey Colwell, note that the heavy volume at the close on 2/29 was the HEAVIEST volume bar yet of the 8 days prior, coming in lower in price than the twin towers in the morning of 2/29. So the weak behavior (no bounce for hours trading even lower in price) on 3/1 gave you plenty of time to say fugedaboudit above 117.5.
Watching for that heaviest volume bar on the screen coming in higher or lower can tell you a lot early.
Nice read Abe...Thanks
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