Tuesday, September 12, 2006

Watch List - JOYG, NEW, FLSH

After retesting its gap, we may get a bounce from JOYG. High risk, so it's best to wait for a reversal signal.

I posted NEW to the watch list last week and it didn't do anything, but now I think it's ready to make a play for $40.00.

FLSH is a classic dumpling top followed by a gap fill resulting in a lower high. Price immediately backed off after the gap was filled. Short with a preliminay target at $40.00.

We may get some follow through on the AKAM trade on the open, but plan to take profits at the 10:00-10:15 reversal hour.

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