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  • Friday, July 15, 2005

    JOE Long

    Finally! Patience pays off, I've been waiting for this move all day.JOE was taken as a long for several reasons. S&P futures played out like I thought and made a strong move up off gap support. JOE also had some gapping plays of its own.It gapped up slightly this morning then partially filled the gap,came back up and traded sideways most of the day.I took the trade based on the rising MACD on my 5 min,13 min, and 60 min charts all in sync. Also used the S&P technicals as a fourth reason.My entry was a little late, but again I like confirmation of orders in the nyse book.Entered at 84.35, exited half at 84.49 and the other half(remaining shares) at 84.79.Discipline,discipline discipline. Gaps are powerful, Joe failed to follow thru at its previous gap from 2 days prior. :-)


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