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Non-Tech : MB TRADING

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To: TraderAlan who wrote (1820)	11/7/1998 10:47:00 PM
From: Gary Korn	of 7382

1ST HOUR BREAKOUT -Buy/sell the breakout (breakdown) of the range of the first hour RANGE BREAK and REVERSE -Buy when price breaks back into the 1st hour range. Sell when it reaches the 38% fibonacci retracement of the distance between the bottom and top of the range. Alan, I must have been doing one of these when I traded GERN on Friday. In the first few minutes of trading, the stock zoomed to 22ish (from a close of about 10). Minutes later, I happened to see the stock trading at 17. Instinct told me it would retest the highs, and I bought at 17 1/2 (only to sell way too soon at 18ish). Of course, it did retest the early morning gap, and even exceeded that gap (only to fall late in the day back to 17). Was I effectively trading a range break/reverse? Whatever it was, it seemed obvious at the time (and obvious trades rarely happen to me). Best, Gary Korn

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