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Strategies & Market Trends : Angels of Alchemy

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To: Marshall001 who wrote (337)	5/25/2000 11:42:00 PM
From: tennessee_ted	Read Replies (1) of 24256

Marshall- about LUMT- Don't know anything about the stock, but I follow a few personal favorites that are kind of thinly traded like this one and its chart and end of day behavior would scare me into thinking twice about averaging down in this market climate. The stops being taken out do not look like they "snowballed" when you break the chart out into one minute segments. Just looks like a lot of selling, possibly a large position being sold off to "bargain hunters" and a bunch of folks just getting scared out of everything (perhaps with good reason). I also note that the bulk of the stops at 7 would have been triggered yesterday. I'm seeing a lot of beaten down low volume stocks just getting smacked up even worse, regardless of their numbers and prospects. I'm getting burned regularly by trying to pick up these bargains and am trying to stop doing it (they're just so tempting though!!! I also have a habit of doubling down on a loss I've just incurred so it only has to go halfway back up for me to bail). The market is whipsawing too much, and they just keep going further down. Just my opinion though, and since I really don't know squat about this company, you could wake up tomorrow to find the selling is over and normal price behavior will resume for it. But then again... By this time tomorrow, I hope to be all cash from about 70% now, except for that lottery ticket called TRAC, that looks worse every day. -Ted

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