Wednesday, September 07, 2005

Breaking out; PETS

Remember me studying PETS, to see if I was right that momentum was fading for this stock?

Yesterday PETS finally proved me wrong on my 2nd prediction;
It broke out of the triangle on the upside. It also did so on high volume making it a valid break out.
It did not however manage to get higher than the beginning of the triangle, which is required for a real, strong break out.

I will keep watching PETS to learn something about momentum.
Lesson I learned here is that volume alone isn't telling the whole story....


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