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Friday, August 15, 2008

Stockwatch:ABS, AJO,LC,NI,PX,VLL

I am watching this stock to breakout @ 18.50 from the upward channel. If it does then my target price will be @ 20.00.

At my chart, AJO formed a rising wedge and has breakdown last Monday (August 11). AJO looks like poised to reach .043.

LC to me is trading within the range of .245 and .27. I would like to make a position on this stock should the support hold.

I'm glad I was able to get out from this issue yesterday @ 10.50. I have a small position @ 11.00 because I though this is going to be another flag. But last Monday it breakdown from the flag, I was not able to get out on that day. Anyway, today NI went as low as 9.70. If it holds the 9.70, this issue but be trading within the range of 9.70 and 11.00. And, if NI breaks below 9.70 then NI poised to go down to 8.50.

I have a small position @ 7.2. I've been holding it since July. Uhmm, I know technically I should have gotten out when it break below 7.0. But at that time, the market was crazy into selling mode. And, I just decided to go on vacation mode and let this stock stay on my portfolio. Anyway, I hope the long wait will be put to good profit. My target price is 7.80 this is from the trade range of 7.2 and 7.5. But, if I'll be greedy and wanting to maximize the long wait then I hope this will breakout from the 7.60 and continue up to the target price of 8.20.

I've been told that the cup or rounding bottom was form in a very short time frame. Normally, according to a trader friend a cup is formed 3months or more. Looking at VLL chart, I would like to make a position and range trade this stock.