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Strategies & Market Trends : Take the Money and Run

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To: Augustus Gloop who wrote (13136)	8/5/2002 3:29:41 PM
From: Dave Gore	Read Replies (2) of 17639

That's fine, ORB is up 30% off Friday's LOD. MIR was up 80% last week off its LOD. Nearly was a "buy" on the charts or based on news, but they were terrific trades and I think ORB is a cautious buy here. T/A is only 1 of 4 factors that determine whether I buy a stock that is way down (i.e. whether it represents a high REWARD/RISK play). It is also not the most important of the four. Emotion/Psychology/Sentiment is #1 (if a stock tanked due to overblown fears -- Of course if it is undervalued or near double or triple strength support and had great news recently, all the better of course) Fundamentals (i.e. Valuation), T/A, and News (especially unexpected news) are the others of about equal importance. They all are important but in this Market fear is the big one which can cause people to temporarily go out of their mind and render T/A, Valuation and Recent News nearly worthless.

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