We hold 200 shares with a profit-adjusted cost basis of 23.37. Please note that any histrionics falling shy of 22.46 to the downside or 25.50 to the upside should be regarded as mere noise. The significance of these price points is shown in the chart, but the explanation is that either type of move, if uncorrected, would create an impulse leg on the intraday charts. ______ UPDATE (1:39 p.m. EST): Exit the position now near 22.51, since today’s rout was bearishly impulsive on the daily chart. I have disseminated this advice via e-mail and in the chat room as well. Our trading loss was about $175.
