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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Chris who wrote (25296)	7/11/2000 1:55:56 PM
From: Robert Graham	Read Replies (2) of 42787

Possible short entry at 1492.75 for the SPOO. Now placing in a peircing test of top. In a short position now with stop loss at 1494.00. I am expecting some whipsawing. Well, so much for that one. :-) I am out at a small loss. I am placing another short entry at 1492.75 and getting ready to move it up. No opportunity to move it up. Price is attempting to bounce off of the 20 EMA 1 unsuccessfully. This was not an optimal entry. Stop loss again at 1494.50. I make things difficult for myself when I am not willing to move my stop close to where the price action is. Such entries as this are prone to whipsaws as this would be if it were not the preceding price action. Stop loss moved up to 1493.25. Price should carry though if there is to be another sell off. A narrow range bar. Any moment now. Stop loss moved to breakeven. A possible price reversal in process. One contract off at 1489.75 for the scalp partof the trade. Bob Graham

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