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Last Update: 1.13.13

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12.19.13 Thursday

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[10:04am CST] Entered Calls @ $21.54

Double bottom is usually served as bullish reversal pattern after a bearish trend however when it occurs in bullish uptrend, it can be also served as a “continuation” pattern and once it broke above the neckline (dotted horizontal red line), retest is good place to get long which I did get long with calls.  Only challenge is that we need to make new highs by closing above $21.60ish for this to play out nicely.

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12.23.13 Monday

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[12:25pm CST]

It gaped up nicely this morning and as you can see how that double bottom neckline held up well last few sessions and was able to gap it up this morning.  Gap should stay open today for this buying pressure to continue this week and looks like we are going to close above $21.60ish today which is a good sign for the buyers.  $22.40 is my target.

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12.27.13 Friday

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Let’s keep that gap open but even if its closed, as long as we are above $21.60ish, I do think we can go higher.  We have no known reversal signal as of today as I am still holding full positions.

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12.31.13 Tuesday

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3 days of bull flag was confirmed today with that white candle close.  Gap is still open and we are moving higher.  No need to call tops here.  I am still holding full positions.

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1.3.14 Friday

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Still holding positions as we have bounced right on that 10EMA yesterday.  Not sure what to make of last 5-7days of action but I think if we can hold above this recent pivot of $21.60ish and above 10EMA, I do think we can see higher prices.

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1.7.14 Tuesday

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We haven’t really made much progress last few days but we are still above 10EMA which we bounced right off of on 1/2/14. So benefit of the doubt still goes to the buyers.  Still holding full positions since 12/19/13 ($21.54).

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1.8.14 Wednesday

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Looks like stair-stepping higher (also old resistance new support) and today’s white candle is trying to nullify yesterday’s attempted sell off.  Still long!

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1.9.14 Thursday

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Just following that 10EMA (blue) to the upside and as long as we are closing above that, benefit of the doubt goes to the buyers. Still long and holding full positions.

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1.13.14 Monday

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[1:15pm CST] Exited Positions @ $21.83

It breached below 10EMA and I’ve decided to close my positions with small gain.  These grinding higher actions really couldn’t get the momentum going.   Possibly back down to $21.62 to retest that level as new support.