Dave Gore's Trades That Make Sense Message Board

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Strategies & Market Trends : Dave Gore's Trades That Make Sense

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To: Dave Gore who wrote (622)	1/9/2002 4:15:24 PM
From: Dave Gore	Read Replies (1) of 16631

MARKET WEAKNESS ON CLOSE ------WHY? CNBC reported that bank worries in Japan may have been the biggest cause. Hello, why is that news? If that is the biggest excuse that the Big Boys can come up with to help tank the markets back down to where the big boys can make money on their shorts or get better re-entry points for their clients, then I wouldn't be too worried. More importantly, it illustrates the REWARD to RISK dynamic that is always present. When the Markets run up, there is a bigger chance that profit-taking will occur for even minor reasons. No major chart damage done yet and the CSCO news was terrific; also the SOX finished green for the day. I'll continue to trade what we see, though, not what we think. I'll also continue to hold stocks overnight and pick up quality names on pullbacks to chart support. I'll also take profits on good run-ups, but more importantly cut losses on chart breakdowns.

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