Lizard King's Trading Swamp Message Board

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Strategies & Market Trends : Lizard King's Trading Swamp

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To: Tom Latham who wrote (2973)	11/25/1997 11:17:00 PM
From: TATRADER	Read Replies (1) of 7396

Tom, I am a technical trader, I rarely look at any fundamentals in a stock...When I see a double top pattern with neckline at 27.50, and a stock like MRVC hitting the neckline and being repelled, it tells me to short the stock...Today the stock made a lower high and lower low....It closed toward the low of the day on strong volume....That tells me that unless the overall market zooms upward tomorrow, I should be able to ride a small momentum wave yet to the downside on this one...We shall see....I have been on a hot streak my last nine trades, and have to be especially careful now, so I don't overtrade.... Regards, Mark P.S. I am again 80% in cash at end of day.... Two open short positions: SFAM MRVC.....

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