Thursday, January 3, 2008

BTJ is Breaking Out

You win some and you lose some. Today, I sold my PCP calls way too early, missing a move up that I really don't understand. Anyway, my long position in PCP appreciates it.

With BTJ, however, the move is not unexpected, but it is still exciting to watch. I was a little concerned about a minot head & shoulders at $40.25, but the stock broke through on volume.

As I am writing this, the stock just busted through $41.22 (the next resistance level). If it can close above this level, we should have some smooth sailing to $46.00 as it breaks through a symetrical triangle pattern.

http://stockcharts.com/h-sc/ui?s=BTJ&p=D&b=5&g=0&id=p54933814669&a=117769534

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