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Strategies & Market Trends : DAYTRADING Fundamentals
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To: wallstreeter who wrote (3027)8/18/1999 12:58:00 PM
From: Rick Faurot  Read Replies (1) of 18137
 
WS,

This looks like a reasonable trade. You shorted fairly close to the high and egrp has had quite a pop in the past couple days.

First, you covered on your stop. Always good! Don't look back on that.

The action today pretty much subsided after the first hour, so conditions were drifty by the time you tried your trade. Also, you were within shooting range of a lunchtime buyers rally. This sometimes starts a little early and this is probably what got you out.

Egrp has been tremendously hammered in the past month and may be done getting killed. You want to be a little bit circumspect shorting in this situation. Probably still a good short, though. I would chalk this one up as a good trade.

Rick
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