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Strategies & Market Trends : NetCurrents NTCS

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To: Michael Watkins who wrote (5303)	1/9/2001 7:38:03 PM
From: Ally	Read Replies (1) of 8925

Great points on BVF Michael, thanks! It'll be fun as I crawl under a new skin from FA to TA. Mmmm... wonder if I could be a chameleon. I bought back GX yesterday morning when the chart showed that the retracement has gone far enough (only $1 LOL!). Working on the concept to buy on every retracement and resell on small parabolic ups, thus maximising profit. Sort of a typical ideal dream of a beginning TA practitioner. LOL! Luckily it worked with GX. It gapped up $2 this morning and I immediately sold on the gap because I read somewhere (probably Toni Turner's book) that it is a good strategy to sell on opening gap, and buy back on retracement. Only it didn't retrace today. So, now I wonder whether after all it IS the right thing to do! All this trading in and out would just grow TD's earnings rather than mine. Wouldn't it be better to just hold in an upward trend and not attempt to go in and out? (SI is strange today... won't allow posting if message is to long.)

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