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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (4615)	8/24/2000 11:05:44 AM
From: Zeev Hed	Read Replies (1) of 30051

Well, despite the fantastic performance of RDRT, I just sold it at $6-11/16. My reasoning is, I have a very good profit in one day (bought yesterday at $5.125), and $6.75 is the January high, a natural overhead resistance, I expect at least one retreat from there. RDRT just came up with a slew of news releases, thus I expect none more in the near future, last, I expect some retrenchment in the naz. Of course, with such strong momentum in the stock (already three times the volume on that January high), it may go through $6.75 like through butter, I'll simply have to pay the piper if that happens. I expect to get back in under $6 if I can. Zeev

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