Get In, And Get Out

  • July 25, 2002
  • Duke Heberlein


First hour momentum is often a good spot to catch a quick profit. Much like
the first consolidation breakout, the first pullback is a good pattern to look
for.


10:14:15

Intraday Setup Alert

The Biotech Holders ETF (BBH)
is moving higher out of a short pullback. BBH is up 4.65 to 77.35.

After the one-bar pullback, the stock immediately reverses to
the upside, confirming the short-term trend is strong. The stock goes nearly 2 points higher within a few minutes. If you choose to try and ride these quick
hits, be sure to employ stops in the event you are wrong, and use trailing stops to
lock in profit as the move goes in your favor.

Until tomorrow,

Duke


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