XING: January Rally

(Click On Chart To Enlarge)

XING broke out of a Downward Sloping Channel (in Red) that had a "fractal" (a repeating pattern, in green) on January 16, putting upside targets of 14.22...14.89...17.20...and 19.05 all IN PLAY. I posted my chart and analysis ahead of the breakout, and posted the breakout in real time, at 3SOF's web site. It's still there in the XING file, if anyone wants to research the patterns, analysis, etc.

"Take Profits When Targets Get MADE," or at least some.

Getting out of XING at the final target of 19.06 based solely on the chart and the pattern targets IN PLAY saved a lot of headaches in this case. Yes, sometimes stocks go higher, but selling at 19.06 produced a nice profit from the breakout (44% gain), and XING didn't go much higher.

The 2007 high of 19.92 came in just five sessions later, and XING tanked to a September low of 7.65 where it could have been bought back at "next to nothing" during the decline with the 44% gain in the stock, if we sold it when the 19.06 target got MADE.

Buying it back at say, $10, the adjusted cost basis would be about $4. Pretty cheap!