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Strategies & Market Trends : Investor's Business Daily

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To: -Mad-Jon who wrote (114)	8/27/2000 11:15:33 PM
From: adairm	Read Replies (1) of 164

Mad-Jon: On catching the breakouts... Can you place "buy stop" orders with your broker? They act just like "stop loss" orders, only they go the other way. Let's say you see a chart setting up, and the pivot point is 50. You spot this on the chart, and decide if it breaksout, you want in. Issue a "buy stop" at 50 3/8. If it trades there, your order becomes a market 'Buy' and you're in. Have your broker beep you (or call you) so you can review the volume, market direction, etc. And then you can set your 8% stop loss order. Nuthin' to it! It's no coincidence that a lot of stocks appear to be setting up at the same time. That's the way the market works! The pure market timers would be all in cash right now just waiting to put it to work. I think they're waiting until after Labor Day to hear the starter's pistol go off. Yes, there may be some 'panic buying' if the market starts to rally early. <grin> And, boy, what a messed up chart EMLX will have! Best, Adairm

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