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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 78.40+1.9%3:59 PM EST
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To: ehasfjord who wrote (59961)6/26/2002 7:04:06 AM
From: mary_a  Read Replies (1) of 77400
 
my experience has been also that gaps play a very important part in ta. my experience has also been that the top of the window becomes support on an upgap and the bottom of a downgap becomes resistance. the way i play short on a stock with an upgap is to wait until other ta indicators tells me the stock is breaking down before shorting it. i will cover just above the top of the window and reshort after it bounces (probably 8 out of 10 times it will bounce the first time it hits the top of the window.) then i reshort the bounce and just wait "if the window is large enough to justify it). i play longs with downgaps in reverse order. btw, small gaps (<25 on nyse stock and <50 on naz)i don't worry about but we have gaps that you can drive a truck through on some of these stocks. when i am looking at a gap of several % i feel very comfortable shorting it when the breakdown starts. one level i look to start shorting on is when it has tried to make a new high and failed. the amount you lose before you are proved to be too early is very small when you are shorting up there.

gaps have been very good to me over the years. as i mentioned in a previous post a few weeks ago mmm is the one i am playing now.

mary
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