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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling

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To: Michail Shadkin who started this subject5/10/2001 5:51:00 PM
From: Michail Shadkin  Read Replies (1) of 6873
 
NVDA - my reason for going long

1. I am looking for 1-2 more long to balance my portfolio out for the next 2-3 days, before FOMC. I expect the usual market rally heading into the meeting.

2. After making a new high of 95.28, NVDA has been down significantly for 3 straight days. I believe stocks and markets generally move in 3s.

3. There is some support around the 80 level

4. ERTS was reporting earning tonight and I felt they would beat the number. Both ERTS and NVDA are slightly in a similar sector.

5. NVDA is a great trading stock with lots of momentum traders and has lots of volotility. I am hoping I am catching them at the bottom of the range and at their up trendline.

BTW, this by no means is a value play. Many even consider this a pos.
This is just a 1-3 day position.

Hope my explanation helped.

Michail
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