Augie, a good example of medium term "box" trading, with one difference, your first stop loss is set under the bottom of the last box (around 12.5), you raise that stop to just below the bottom of the new box, only after that bottom has been tested at least once (like just under $14.5). Then you raise it again to just under the bottom of the next box (now $15.5 to $16.75 or so, thus SL at about $15.25 (which should be just above your buy at $15?), and if $16 holds over the next few days you raise the stop to just under $16 and so on... Mind you, even though we may be no in a cyclical bull phase, quite a number of whipsaws should be expected. After all, it is not a secular bull....
Zeev
