Monday, September 25, 2006

Trade of the Day - Eagle Materials, Inc. (Public, NYSE:EXP)

As per last night's watch list, long EXP on a channel break as well as a break of Friday's late day, narrow trading range. I sold the position as price came in to test last Wednesday's high.

SNDK gapped down on a Merrill downgrade so I didn't chase it. I shorted JOYG shortly after the open. I booked 50% of my profit after a 1 point gain and was stopped out on the balance. Here is the chart.

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