Monday, July 7, 2008
Not a chart study, not a drill - HL
Well, with Huey coming within a whisker of the 62% Fib retrace laid out a few days ago in this post, I decided to put my money where my mouth is and buy HL today (at 8.11) on a retrace of its own. Perfect... a volume breakout and pullback on declining volume and as a bonus we get a gap filled right at the former downtrend line. Hey, nothing is a given in this market but it's all about risk vs. reward isn't it?