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Microcap & Penny Stocks : MCLL Metrocall
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To: themadsnooker who wrote (205)2/10/2000 9:47:00 PM
From: Bipin Prasad  Read Replies (1) of 266
 
1. English is not my forte, so please bear with me.

2. Master? No! I had my fair share over yrs. There're a few real masters in day trading. Go to "Micron Only Forum." Larry D. is one and Patrick Koehler is the other. Unfortunately you might not get many chance to interact with Patrick for he is not well. Thanks to Patrick's fairwell gift (his 14 yrs data on MU), I became more efficient.

3. I'm a long term investor(6 months+ ~ yrs). I take long term positions by 1 qr each time in general in new stocks. 1/10th each time in fairly matured stocks but has great potential to go higher.

4. For new stocks, I close out each day until it finds decent support. That way I can lower base price when I finally hold it for long term. There's no grantee that I'll pay less the next day. ie, I got some @10.937 and some @11.9375 yesterday, but @ around 3:20 pm, it was moving up on thin volume. That usually means daytraders or shorts are closing out their positions. It will go higher by closing, but it also means it will give them back when opening rush is over the next day. So I closed them out @ 11.9375.

If I held them over night I could've made more gain this morning, but it wasn't time to take 1/4 yet. However I locked few points. That gives me more room to average up if I have to, or lowers my base price.

Hope it helps.

InSook Prasad
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