Friday, October 27, 2006

Dummy Trade of the Day - Titanium Metals Corporation (Public, NYSE:TIE)

After consolidating Tuesday's big move for two sessions, TIE edged up towards short-term resistance early in the session. I entered before resistance was tested on a low risk, dummy setup following a small hammer. My target was $33.50 and I exited just pennies below as TIE came within two cents but couldn't manage to tag my price.

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