TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... Message Board

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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: Shanker Reddy who wrote (11355)	9/27/1999 9:35:00 PM
From: TATRADER	Read Replies (2) of 59879

shank, am a bit upset with myself today...we pulled in a couple of K, but could have been 3x that amount had I held most of my gold positions that I recommended on this thread late last week...I am still fighting the mentality of closing all positions at the end of the day, vs a chart pattern that looks good to a target price and just setting a protective stop and letting it ride for who knows how many days.. Today I probably made another cardinal mistake..I shorted NEM at 27 3/4...As I look at what I did, I should have waited until day two of the move, and then watch for deteriorating momentum(about 9:50 tomorrow) But I was watching the RS indicator on my real time system, and it gave a reading of 100 and 90, which is an automatic sell, or short..Furthermore, my fast stochastic 8 period, gave a reading of 99++ which also tells me that early the next day, the stock should pull back...I know that NEM will pull back tomorrow, but it will most likely take out my buy stop first..Such is the game.. Only had time to do a quick look at your COOL..Trading range stock from 8.06-9.34..Don't see it breaking that 9.50 resistance area while the market is sick...I am looking for downside on DOW of 9750...Doesn't it makes sense to be a day trader?..We continually make our nickels and dimes, while the buy and hold crowd watches their investments dwindle..My wife and I have done very well the past two weeks...This is a bear market and wonder when Wall Street will finally concede...I plan to be a very agressive gold trader in the next few months..Will be going both short and long... Regards, Mark

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