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Friday, February 23, 2007

PX: A Big Symmetric Triangle

This morning, I placed an order @ 4.15. I know the previous closing price is @ 4.25. It has already made it breakout. Evaluating the Risk and Rewards, the reward is BIG compared to the risk involved. So, I placed an order @ 4.15. Unfortunately, the market open today @ 4.25. It was heavily traded. And, I was not able to get stocks / shares @ 4.25. Instead, I was able to purchase @ 4.5. And, I'm already happy with that. Today, PX closed @ 4.60.

Based on the big triangle base point, the target price is @ 7.00.