Three Inside Up

Saturday, February 17, 2007

A three inside up pattern occurs after a 2-day bullish harami pattern. To form the Three Inside Up pattern, the third day is a white day with a higher close than the second day. The three inside up pattern turns a low-reliability bullish harami into a high probability reversal pattern.

Mikoh Corporation Limited - MIK



MIK has pulled back from it's high of $0.48, contracting the short term group. The long term group looks strong with good separation, with the count back test showing it hasn't been broken since the start of November.

MIK formed the three inside up pattern on the 15th with a white candle closing higher than the second candle of the bullish harami. On the 16th MIK closed at $0.45 with a 5.88% increase.

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Chart Watch 2007-02-16

Indusrea - IDL

Industrea keeps making new highs. Our stop loss again gets moved up, now at $0.35 which puts IDL into profit. For the fundamentalists there is a lot of infomation available about the IDL story, including an article in the Smart Investor. This information can be download from Industrea website

Eastern Star - ESG
is in a trading halt, keep on eye in the news if you can as the stock sits right on our stop loss.

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Chart Watch 2007-02-15

Thursday, February 15, 2007

Industrea – IDL



Industrea stop again has been moved, now at $0.335. A close yesterday of $0.365 and and intra-day high of $0.375.

Bluglass Limited (BLG)



Bluglass closed below our stop loss of $0.545 at $0.54 yesterday. The trend is looking week and an exit should be made tomorrow. It looked like support was going to hold at $0.55, but the I'm not confident the short term group will respond favorably .

Charter Hall – CHC



We decided to stay in CHC, even though the stop loss was broken last week. The trend wasn't weak enough to exit. Looks like there is short term resistance at $2.50 and a close above will be encouraging. Stop Loss remains at $2.42.

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