Steve Woods' Float Analysis Newsletter

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May 21, 2005


	Two stock charts and two graphics appear below. The first chart shows how the stock looked just before it made a 31% move in 21 days and still counting. The second chart shows the resulting price move. The purpose of these charts is to demonstrate the principles of Float Analysis. Feel free to share this stock report with others. The Pantry Inc. (PTRY) Overhead Support Formation Support at the Lower Float Channel Line In April 2005 PTRY returned to the same $28 price level that it had first reached six months earlier in November 2004. On April 15th, 2005, it broke below its lower float channel line. This implied at least two major possibilities. Either the ownership in the float turnover above April 15th's price had bought at exactly the wrong time and their losing positions would only get worse or the ownership above April 15th's price would hold their shares tightly and the price would rise up and away. One day later on April 16th, the price turned higher with a very bullish move to the upside. This was an early signal that the accumulation phase was over and a price rise was about to occur. From there the price continued higher (See both charts below) Study the Charts and the Graphics below it. It will help you understand the principles of Float Analysis.

	INFO ON OUR PREMIER FLOAT CHARTS WEB SITE Want to find stocks like those above? Check Out Steve's New Web Site! Consider subscribing to www.FloatCharts.com. We track Float Turnovers on over 7000 stocks and scan the market for ABC Float Set-Ups, Breakouts and Breakdowns that are poised to make big gains like the one shown above. Our *Float Charts Central* site is the world's premier site for Float Charts and Float Analysis. We also send out Stock Alerts and a Weekly Newsletter. Check us out! At www.FloatCharts.com we're always on the lookout for trading opportunities like the one above. We currently have a Silver ($30 a month) and a Gold ($75 a month) Package. Visit our homepage and see the results of some recent stock picks (near the bottom). You'll be amazed at the power of Float Charts and the returns our stock picks can generate. Our stock picks are based on the ideas found in Steve's book Float Analysis, Powerful Technical Indicators Using Price and Volume (Wiley, 2002). The book's former title was The Precision Profit Float Indicator (Marketplace Books, 2000).
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