Monday, October 25, 2004

HRT perking up


HRT looks like it is starting to ascend from the bottom of the handle of a huge cup and handle pattern. I've posted the weekly and daily chart for HRT. HRT has a float of 2 million shares, so it can move up quite rapidly. I'm watching for a substantial increase in volume tomorrow to confirm that HRT really is headed higher.

Playing defensive right now is the name of the game, so I'm going to place a stop 3% below my purchase price if HRT starts flying up on heavy volume and I feel it is safe to buy. If I buy right then I won't have to worry about getting shaken out, but if it reverses then my capital will be protected by the stop.

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