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02/28/2004 Archived Entry: "Closing AA, AL, and TCB--combined loss of 71 cents"

We are exiting three positions at months end. With sluggish action due to a consolidation in the markets, many charts are stalling and triggering exits due to lack of momentum. (We may reenter these charts if they move our way. All three have bearish weekly charts, so our bias is to the short side, but they have rallied a little against us.)
AA We entered short 2/23 @ $37.33 and are exiting 2/27 @ $37.47 for a 14 cent loss.click here for AA1 chart In Chart Review, Fibmaster said, "exit if the daily chart crosses up against us, there is no need to wait for your stop to be hit." We prefer to exit in case AA wants to resist a little higher. One reentry strategy is a close below the 3x3 on daily and also below the low of the daily bar of Feb 26th ($36.48). Or, we may reenter on cross down of TRSI after a little rally towards prior highs in January.
AL We entered short 2/25 @ $47.18 and are exiting 2/27 @ $47.63 for a 45 cent loss. For the same reasons as AA. For reentry, we need a close below $46.37 or a cross down of TRSI after a rally to Januray's high.
TCB We entered short 2/23 @ $51.86 and are exiting 2/27 @ $51.98 for a 12 cent loss. For the same reasons as AA. We need a close below the 3x3 for reentry.