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Strategies & Market Trends : Rande Is . . . HOME
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To: Condor who wrote (45668)1/17/2001 12:16:20 PM
From: Rande Is  Read Replies (1) of 57584
 
Thanks, Condor. . . . . Fools Rally? . . . . . As far as daytrading goes, I have already covered and am waiting for a clearer direction from here. . . .meanwhile, I am having a blast again with the penny stocks. These have been more explosive than I have seen in over a year.

For the record. . . again. . . When I say I am short, I am referring to that moment. . . not the year. Don't misunderstand. Nothing has changed. I am still on the plan from the Millenium post. . . that we move up in stealthy bursts, separated by several days of declines. And I never hold ONLY shorts. . .and rarely hold them overnight. So when I am short, it is typically only between 2 and 10 stocks. . . whereas I'll still hold 40 to 60 longs. . . . and will even short stocks [in the near-term], in which I am long [for the long-term].

I was long [daytrades] in the pre-market and short [daytrades] at the open. . . so I bounce rather easily as the trend does. I don't use actual stops, as that makes me a lazy trader. . . rather I watch and use even TIGHTER mental stops. . .based on momentum.

Meanwhile, I am still holding my core long-terms and positions. . . especially in the microcaps.

Hope that clarifies things. I am encouraged by today's volume, but at the same time I am still skeptical about todays move. . .seeing as how it seems "generous" to longs. Something about todays "RALLY" doesn't feel right. . . as though we are all being set up for the kill. And that is why I am uneasy with jumping into near-term longs at this point, but freely willing to jump into near-term shorts.

Rande Is
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