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Strategies & Market Trends : NetCurrents NTCS
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To: Doo who wrote (78)10/1/2000 12:09:23 PM
From: Teresa Lo  Read Replies (1) of 8925
 
"Unfortunately, I find this one part of your comment confusing. Are you saying that if the breakout was bought at around 80 1/8, you set a sell stop below a break of 79 1/4? Or are you saying you would SAR on the break with a cover target for the short of the bottom of the triangle? Or, are you saying, don't buy the breakout at all?"

I am saying that it's best to not buy the breakout at all. The technique I showed you was a place to get short for a quick scalp. However, I know that some people MUST buy the breakout, so I also used the words "protective stop". The break of $79 1/4 is where short positions can be established. It is also where the wrong longs can exit gracefully.

My personal preference is to get in on the first retracement after a clear break, much like INTC daily chart. Note where the arrow is:

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