Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: waverider who wrote (15843)	7/17/2002 2:02:39 PM
From: gold$10k	Read Replies (4) of 36161

WR, A case in point about stops... Monday I bought DY @ 10.10 with support @ 10, then it went to 10 (oh well, can't get it perfect) then yesterday it rallied to 10.88 and pulled back to 10.35. Today I bought again @ 10.10 while the NAZ still looked strong. Then as the NAZ pulled back, DY broke support to 9.85 then rallied back to 10 and I sold @ 9.99. 9.85 was a big enough breach of support to convince me that it was no longer a good bet, but I waited for the rally back to support-now-resistance to sell for a smaller loss. There's many ways to trade. Some would say that I should never have let a winning trade become a loss, but as support looked good and I expected to be able to get out @ 10 worst case, I wanted to let it bounce one more time before a potentially bigger move. Right now it's at 10.14, so I still did not avoid the fakeout (time will tell), but I don't care because my loss was small and I no longer have faith in the trade. Regards, vt

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