Lizard King's Trading Swamp Message Board

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Strategies & Market Trends : Lizard King's Trading Swamp

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To: TATRADER who wrote (486)	8/18/1997 1:37:00 AM
From: sepku	of 7396

Well tomorrow is bound to be quite interesting. I've noticed that most of you are trading several stocks at any one time...I usually focus on no more than 3 considering I have to keep them under my watchful eye on a tick-by-tick basis. Tomorrow, once again I'm going to make my primary target: ASND. Providing the market as a whole doesn't decline much further and spread fear among the sheep to a significant degree, I think ASND is due for a reversal back up towards the high 40s this week. Even if pessimism runs rampant in the financial world, the bears have pretty much dried up at 43...too many bull horns brandish at those levels. Ever since last Monday's plummet on 4x avg volume, the volume has declined for four consecutive days to benign levels. Friday's 45.5 close was on flat trading and a mere 6.47 mil shares compared to the monthly avg of 9.4 mil. It may be too early to decide, but looks like at worst a trading range with support at 43 and short-term resistance just shy of 47...at best a solid base is building and with the bears weak, the bulls won't have a problem making this one spring. I prefer trading ranges myself...but considering I hold a long interest in a separate account I'm game to trade into an uptrend. How about that company with the much-hyped possible cancer "cure"? After surging 103% on nothing but bullish hysteria and nada for fundamentals, that baby's gonna give up some of those gains for sure...anyone who went short on Fri with a tight stop in case a delayed reaction by more lemmings at Mon open, I think will do quite well -- I sure wish I heard about it within trading hours last Fri. Sounds like that PLSIA dental laser flop several months ago -- deja vu? Let's hope emotions run rampant tomorrow...the better for us. Style Pts.

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