Lopez Holdings Corporation (LPZ)

In my trades, I make this rule to exit the trade during an extended short-term uptrend with a sharp acceleration in price. I remember this rule came from my successful exit in MBT as I was able to sell near the highs at 62.50 and 63. MBT then formed a flag for the next two days but failed to break out. Up until now, it is moving sideways. When I saw the same set up (short-term uptrend and acceleration in price) in LPZ last Thursday, I thought that it was already a sell, although I didn't particularly have any shares to sell. I was just looking around. Haha! Anyway, that "exit" would have been justified as LPZ formed a bearish harami upon the Dow's recent breakdown. Of course, it's natural to expect that prices should go down from there but last Friday, LPZ moved up instead. As I have mentioned before, a failed bearish pattern is a very bullish one. LPZ now looks poised to break above its previous high of 4.60. You can expect resistance at 4.85 then 5 but its upward channel suggests a possible upside of 5.2. Caveat.