Another nice setup, first higher bottom after a trend break. These trades are pretty straight forward, enter when higher bottom
is confirmed, place a stop loss just below the higher bottom. Look for a target level to make sure there is enough in the trade
to be worthwhile. In this case we have a level of resistance at 26c, if the stock runs into trouble there I will exit and still take
10.6% which still beats the crap out of bank interest ,o) If it goes through the 26c mark without too much trouble then my target
will be around 30c = 38.5% .... much nicer :o)
DISCLAIMER: These are my thoughts only and NOT advice as I am NOT a licensed advisor.
Please consult your stock broker for advice.
Update 18th August 2003: This one is not doing much at all, which is a bit of a concern because after a break of trend, investors
would normally be buying it up, we don't see that happening here. So, if it doesn't start moving soon, we will exit. We have
also put in place a stop loss at 22c.
Update 27th April 2004: After leaving the site alone for so long, I'm just gonna update this one last time, so I can put it in the closed trade section.
This one has beaten all original expectations, if you had got in at 23.5, you could have achieved roughly 138% ! and even if you were still in it now,
you'd still be up 65% ! not bad for approximately 6 months investment.
Below is a weekly chart, it needs to hold above the yellow trendline, which is old resistance, so now should be support.