A Look at DealerTrack’s Chart
Posted on July 05th, 2007 in Chart Reading
Here’s a weekly chart of DealerTrack Holdings, Inc. (TRAK), which is WallStrip’s stock for the day. The stock has nearly doubled over the last 12 months or so. Like many stocks at or near all-time highs, there’s really not a whole lot to say about the chart. Hopefully people are already in and are just enjoying the ride. If I wasn’t in and wanted to get long I’d be watching for an entry as close to the trendline as possible.
This post has 3 comments
July 6th, 2007
Mike - I assume that means that you are in at the moment? Did you get the double rise? How much of a break in the trendline are you using as a stop? You mention that you would consider entering on the trendline if you weren’t already in (assuming I’ve interpreted that are in correctly) but if you entered there and the trendline didn’t hold, how much leeway would you give it.
(I understand that you’re not making recommendations but that this is just discussion.)
July 6th, 2007
No, I have no position in TRAK, nor have I ever traded it before. If I was swing trading it I’d probably give it my usual stop, just under the prior minor low or the nearest support. It’s tough to say until I see a specific setup.
July 7th, 2007
In regards to NY Times July5 article on Brazil.Lot of money made and more to be made.TSP is Sao Paolo Teephoe Co research it. Great chart and semi annual dividend great.Hold rest of 2007 and watch use own judgement.Be patient and don’t listen to every recommend//