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Wednesday, February 18, 2009

Charting 105

I was so distracted by tweeting that I let SRS get away.

Did you see the double bottom, followed by break above resistance, then a cross over?

Just in case you didn't, here is a mental image of what a double bottom looks like.

Here is what the entire day look like.

I traded FAS today for 10 pennies. Somehow that does not seem to excite me. Here is a little math. 5000 shares @ 10 pennies yield $500 profit while risking 25k+.

The same potential existed in SRS while risking only 7.5k.

I just don't get it, do you?