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Strategies & Market Trends : Sharck Soup

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To: rocklobster who wrote (25503)	5/30/2001 4:28:33 PM
From: besttrader	Read Replies (2) of 37746

You're welcome. My favorite plays have been "breakouts" and patterns like flags. (Especially bull flags). But every one of these breakouts has been false! I think there is a 95% failure rate on breakouts, like the one I just bought yesterday. I thought SYMM had a bull flag. It was doing fine and outperforming the NAZ, then I left the house early, and it dropped from 17.5 to close at 16. Then it opened at 15 today. 2 1/2 points with this stock is a 14% loss and with margin is 28%. That's pretty massive. This stock could easily go to 14 or 12 and I'll be dead meat. Every T/A signal was a BUY signal when I bought it, now after this NAZ drop killed the stock, it has some sell signals. This market can turn on a dime and kill you. Oh well. Another entry for my diary. At least I didn't lose too much in cash quantity. If I ever do get rich, these lessons will hopefully stop me from losing my "future" fortune. :) Good luck! :)

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