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Replies to post #2260 on Shankapotamus' Playpen

Replies to #2260 on Shankapotamus' Playpen
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Winneragainstallodds

04/26/12 6:41 PM

#2261 RE: Chart Addict #2260

Chart Addict I agree with you. MRIB is setting up nicely for a big move. After yesterday's huge record volume that took it through the 200 dma, it digested the gains today. I'm looking for maybe a few more consolidation days or an abrupt spike very soon. Thanks again. Correct me if I'm wrong but the chart is very similar to AAPT ICPA and KMAG before they ran. Btw I just member marked you.
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shankapotamus

04/27/12 12:59 AM

#2265 RE: Chart Addict #2260

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Chart Addict

04/27/12 11:12 AM

#2271 RE: Chart Addict #2260

MRIB - My thoughts generally . . .

This is a nice setup. Whether or not it actually launches off the launchpad that it is building, it's worth watching - skull and crossbones be damned. There are two crucial points that I am looking at as preliminary or possible buy signals. The first would be a strong close above the resistance line on the weekly chart. Here is a static chart with a markup:



The second potential buy signal would be a strong close above pivot point P. This is a "live" chart:



I would interpret a close above 40 MA on the weekly, simulcast with a close above MA 200 on the daily on Friday's close as bullish indications.