Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: waverider who wrote (15843)	7/16/2002 6:11:14 PM
From: gold$10k	Read Replies (1) of 36161

Hi WR, My thinking was pretty much as described in the last post. I've had some success in finding good individual buy points once the sector (the NAZ in this case) gives indications that it is in the bottoming process. In retrospect, I didn't start early enough... check out some of nspolar's buy points on some other techs. The $2.12 on ADCT seemed low enough for an initial buy that would get me on board. Under $2 would have been ideal, but waiting for it would have left me at the station. I use mental stops only and then only once I am fairly certain that I am wrong. Even once significant support is broken, there is often a rally back to it that can be sold if the support-now-resistance is not re-broken to the upside. This helps reduce whipsaws, but nothing works perfectly. It also helped me to check in with Zeev Hed, whom I consider to be a brilliant and generous fellow. For now, this is just a trade and I am definitely not betting the farm. Perhaps in October there will be an opportunity to buy and hold for at least a few months. <g> vt

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