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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: Boplicity who wrote (33580)	11/17/1999 4:42:00 PM
From: HairBall	Read Replies (1) of 99985

Gregory Mullineaux: OT Well I shorted QCOM at 400 and covered at 355 a few points above the gap. I expected a bounce in that area. I covered above because I wanted to make sure I got filled. I then shorted again at 370 and covered at 335 above the fib retrace 38.2% on the chart I posted to you yesterday. I re-shorted a third time at 349 just below the resistance area I posted to you while QCOM was rebounding. I covered before the close at 340. I am now flat. Short positions do not always go this smoothly. On occasion I can't execute because I can not borrow shares when I need them...<ng> I usually just lurk the stock threads of issues I am considering trading or investing in. On rare occasions, I post on stock threads. I usually regret doing so after the fact...<g> I do invest long, medium, short-term, swing and intraday. My short positions are usually intraday and no more than swing trades in length. I rarely post my actions, I am no guru. As far as predicting where QCOM will be by year's end, I have no idea. Heck, I am not that good. Personally I don't think anyone else is either. I noticed some on the QCOM thread "think" they are. I just try to identify which direction a stock is moving and hop aboard. I also work at identifying the pivot points in advance as well for entry and exit. They don't all work out. That is when I close my position, ASAP...trust me! I did not catch QCOM's move up, so I tried to take advantage of the pullback. By the way, MDA is open to all levels of timing. To each his or her own. Welcome aboard... Regards, LG

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