This was a great long and by looking at the setup you can tell it was basically a perfect setup. Those that have been reading me know that there is one chart pattern I love more than any other which is the breakout from resistance-bounce off the 50 DMA on huge volume. GNSS did that perfectly after the horrible attacks by Islamofascist. This stock was by far my best long that came from the post-9/11 rally. The BOP wasn’t max green long enough for me to get crazy and put my whole account in but it was still good enough to load up. What would have made GNSS perfect is if BOP would have been max green starting in August when the stock started to trend down a little and/or it would have been green all the way from April to the area where the max green BOP started. Still, there was enough max green before the bounce and a nice area of green to max green BOP from April to July to make this stock pretty enough to become a major position in my portfolio. In a little over three months, GNSS produced a very impressive 130% gain from a more than impressive setup.
the buy:
the top:
