Mli

[legion3pm]

gapped up today. first quarter profit up 45% had pretty good volume but that could have just been due to the fact that it gapped up. got in at 31.60 might have been a bad call b/c of the gap. i dont know why but a stock that gaps up scares me.

[legion3pm]

stop hit at 31

[Goods]

Probably best Legion. Stock's been very weak today. Problem with one like this is there isn't much volume overall so prices can be manipulated easier and it's hard to get out if you need to in a hurry.

It's in an uptrend though. You can look to buy back in around 29.50 if you think it looks good enough. That's where I'm eyeballing the trendline. Look closer for an exact buy in price.

I got caught doing the same thing with TITN, buying on the breakout. It fluttered around then dove before it came back. But you can see it bounced right off the trendline around April 2-3 and made big gains. I got stopped out and took a loss but relearned the lesson.

You might want to look at the MACD for MLI in the beginning of April, where the upside hill is strong but much weaker on the rise from the past few days. Also the RSI and Stochastics. Shows the bulls weren't very interested and the stock went higher just from exhaustion IMO.
It's not an exact science but it'll help you see where it stands.

[legion3pm]

GOODS thanks for the reply. i went back and studied all the things you talked about and i see what you mean with the MACD and RSI. thanks for the help.