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Paul Mosgovoy
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  • Market Summary: GDP, LOCK 0 comments
    Apr 1, 2014 4:45 PM | about stocks: GDP, LOCK

    It just could not get any tighter for Goodrich Petroleum (NYSE:GDP). Today was a higher high, with a higher low and a higher close. Price action is pushed right up against resistance.

    The fact that GDP was not able to post a new low continues to point to the probability of a breakout into a short-covering rally.

    (click to enlarge)GDP Daily

    Chart by TeleChart

    LifeLock Inc. (NYSE:LOCK) has retraced all the way to support and has gone no further.

    There was unusual block-trade activity with many 5,000 blocks a 10,000 block, a 70,000 block and even a 100,000 block on the tape. This potentially signifies that the large operators are taking positions at this level.

    Our entry was at 17.57. The stop is a tight 17.16 for a 41-cent/share risk.

    (click to enlarge)LOCK Daily

    Chart by TeleChart

    Disclosure: I am long GDP, LOCK.

    Themes: Oil Stocks: GDP, LOCK
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