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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Magnatizer who wrote (30065)6/11/1999 9:44:00 PM
From: Alski  Read Replies (2) of 79238
 
Gang,
Watch CYBX gap Monday up to one of them 17+ magnets. It'll do that on account of 'cause I took profits today.

Here's another "use mental stops" story though. CYBX was trading strong mostly over 14, occasionally 13 7/8. For grins I put 100 shares under the table with a stop at 13 11/16 to see if those MM SOB's would do it. Well, at 3:52:10 they swooped down to take my 100 shares and some other poor SOB's 100 shares at 13 3/4. At 3:51:00 it traded at 13 15/16 and at 3:53:20 it went for 14.

Now, I'm not surprised or upset they "got" me for $25, I baited them after all. But I didn't expect them to be so blatantly obvious about it. Swooped down 1/4 point (~2%) for a lousy 200 shares. Vicious they are.

If you happen to study CYBX's chart this weekend, the REAL low is 13 7/8. Those 200 shares were the only trades all day below that.

FWIW...Alski
P.S. Don't even ask me why I didn't just sell those 100 shares outright at 14 1/4 (or hold 'em over the weekend; it's going to 20 3/8, right Voo?). I'm content deluding myself that my little experiment only cost me $25 and don't want to think it cost me $56! I'll be upset enough when CYBX opens Monday at 17+, even though it couldn't have happened if I had held.
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