Trend Setters and Range Riders Message Board

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Strategies & Market Trends : Trend Setters and Range Riders

MSFT 485.92

+0.4%

Dec 19 9:30 AM EST

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To: plugger301 who wrote (20941)	7/19/2002 10:07:49 PM
From: Susan G	Read Replies (1) of 26752

LOL! It would suit me fine too. It's no fun shorting so low, I prefer overbought bear rally tops <g> The reason I'm cautious is there are many people who read this thread who are not nimble traders, and can get killed buying into the euphoria that occurs with every bear rally, without taking VERY FAST profits. So many traders are left holding the bag for months on end - maybe forever - because they didn't get out in time. That NDX weekly bearflag may provide a move up soon, if it doesn't break down next week (It did close with a bearish shooting star indicating more downside) Up to the top of the flag one week, down to the bottom the next, up to the top the following week, down to the bottom the next <g> until eventually it breaks out of the top or bottom for good. After a few headfake breakouts/breakdowns of course! Just have to be very nimble and put stops on any trades - swing trades or scalps. I wonder how many did that today, or whether they thought the morning gap down was the bottom and they were "safe". They found out at the close - too late to get out - that it wasn't.

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