March 6, 2009


Bouncing off resistance (about 27.61). Moved above on 3/4 but closed right at 27.61. Heavy volume. Open on 3/5 just below resistance at 27.33, but never went above resistance and closed at 26.56, which is just above 20 day EMA (26.43). Volume was way down. 4 of last 6 days have traded close to or above resistance. Only 2 of the 6 had high volume, both were days it traded above resistance. Seems to be signaling a strong desire by bulls to push above resistance level. Go long now with tight stop or wait for confirmation above resistance? 3/5 close 26.56.
3/6 bm

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