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Re: SeriousMoney post# 1854

Monday, 12/19/2005 12:46:52 PM

Monday, December 19, 2005 12:46:52 PM

Post# of 10373
since there is no precedence or historic price resistance to look at, you have to go with the pyschological and the intraday resistance...so yes 450, but before that 446.21. i get the feeling the latter might be taken care of today, and we'll probably see a retrace tomorrow or wednesday (most likely wednesday if it closes strong today), which i would be a good dip to trade long...i don't think any retrace would be more than 1 to 2 % (but keep in mind a 2% retrace is now near $9)...the way i plan on doing my trading buys is half on a 1% retrace and if it continues lower, the other half at or near a 1.5 to 2%. it's going to take out 450...dare i say "easily"?

right now, i'm in the GOPAF and will close at EOD, i think it may have a strong close...it's clear now that indeed they were holding this back as much as they could for options expiration.



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