Thursday, October 26, 2006

Best Buy Trade

Today we salute Best Buy (BBY). It's been trucking along ever since $47 per share, nailed earnings on September 12th, 2006. It's made a high of $58.50 on October 16th, 2006, and has pulled back nicely to a support area of $54 a share today. It glided down today in a very calm and smooth manner surpassing the $54 area, and breifly touching $53.68, and quickly began an uptrend to $54, and closed at $54.53.

My entry was at the $54 mark, and looking to hold until we go higher. I'll be looking for some Fib extensions for my exit.

Let's take a look:

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