Steve's Channelling Thread Message Board

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Strategies & Market Trends : Steve's Channelling Thread

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To: Steve Lee who wrote ()	11/24/1999 7:03:00 PM
From: Steve Lee	Read Replies (2) of 30051

Hey Steve, great thread you started here. It can serve as a reminder to ourselves of our trades and the reasoning behind them. If we publish our trades and thinking at the time, we will have to be accountable to all the many thousands of followers on this thread. To start things off, I made 2 trades today. The first was in IBM. Earlier this week it had made a good run and attempted to get through its resistance at 107 - 108. Then after the close yesterday IBM's accounting practices were questioned and it dropped back down to just under 102 where it has support. I bought some Dec 100 calls at 6 1/8. The second trade was in Rambus (RMBS). This stock has slid on low volume and is very volatile. It has a small amount of support around $74, which seemed to hold yesterday/today. Next support is high 60's. Major resistance is at 93/94. I bought some Dec 80 calls at 3 7/8. I hope they are both 3 baggers before expiry. That, btw, is not a prediction.

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