Exited fully on the first red candle (5-min chart below) after testing the highs.I'll watch to see how price holds up at the $27.50 range and whether we return to $28.25 to form a base. Especially given the weakness in the dollar today.
Tuesday, June 23, 2009
ERX Continuation
A continuation play in ERX this morning. As it had a run up from it's lows it formed a flag while consolidating into the 20EMA before continuing. The HOD provided resistance while momentum looked divergent on the upside. 
Exited fully on the first red candle (5-min chart below) after testing the highs.
I'll watch to see how price holds up at the $27.50 range and whether we return to $28.25 to form a base. Especially given the weakness in the dollar today.
Exited fully on the first red candle (5-min chart below) after testing the highs.I'll watch to see how price holds up at the $27.50 range and whether we return to $28.25 to form a base. Especially given the weakness in the dollar today.
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