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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....
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To: lexi2004 who wrote (23770)6/18/2001 7:49:12 PM
From: NW_Trader  Read Replies (1) of 59879
 
Hi Dori,

Thanks for the consolation. I've lost faith in BLUE for the moment - doing books at end of day, I realized I wasn't hurt as bad as I thought, only about 1/2 point, not 3/4 - still too much for my style. I'll watch and if volume comes in and price looks like a reverse, then I may play. Today's volume and price action do not leave me comfortable that 2 will hold and a retest of the 1.65 area seems possible if the tech market does what I'm beginning to think it will. Absent a strong rally on the NAZ, I think BLUE will be lack luster for a while, BWDIK? Look at IFMX as an alternative. There are bBetter sectors (look at the drugs) however and money should go to where it is best treated.

For me, the DSL area should be avoided and the semis are good for intra day profits or longer term shorts (at least for a couple more weeks). Good luck with your stocks, but remember that capital preservation and risk management are critical. Don't hang on hoping for reversal and loose your capital - a trader without capital is unemployed. Don't mean to sound pedantic, just reminding myself as well. I held BLUE too long - must realize that I can always rebuy it or something that will work. (Of course, now that it's free of me that BLUE balloon will soar.)

Got to go do grocery shopping then pick up daughter from soccer.

Peace and Justice --- Patrick
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