Posted by downtowntrader | 11/07/2005 01:45:00 AM | 0 comments »

VPHM earnings are out tomorrow morning. VPHM broke out of a contracting triangle suggesting it would trade upwards of 23-24, but earnings tomorrow will decide if the breakout fails or not. I lightened up considerably, as I don't usually play earnings, but there is still some good upside here, so I decided to hold some shares. MACD crossed over and AROON shows new uptrend.
This is an hourly chart that show the current trading channel. If VPHM breaks through the upper range, then I will probably add more shares. If it starts to break down, I will sell at the dotted line, and wait to see if it hold the channel.
I will post an update tomorrow, as soon as we have some indication of which way this is headed.
Good Luck,