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Biotech / Medical : Visible Genetics Inc.(VGIN)
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To: scaram(o)uche who wrote (85)9/11/1997 1:33:00 AM
From: Richard Haugland   of 337
 
+3/8 on 1000 shares is $375 minus two commissions (Schwab @ $29.95 each for up to 1000 shares) is about $315 net or about 4% on a $7.50/share stock (compounded daily if lucky but often takes 2-10 days so far, depending on the volatility). I usually try to get +1/2 to +5/8, but felt optimistic given the trading pattern of VGINF today, but then the overall market went way south late in the day. If my purchase goes down, I simply add it to my core holdings until the market looks up again or buy another 1000 shares at the lower price and start over again and usually sell 2000 shares next time. Of course, one can work it the other way by selling from the core holding relatively high following a run-up and buying it back lower, which was what I did today. There one has the risk of it never coming down again but so what if that happens.

Also, I usually have both a buy and a sell order in at the same time for 1000 shares at about 3/4 above or below the market to catch any trophy bears or bulls. Moves much greater than 10% a day either way are abnormal, even for very small cap stocks. August 28 I caught some stock at $6 doing this.

I use Lombard charts, which are essentially free real time quotes, to follow the trading pattern during the day (registration is free).

lombard.com

and the following daily charts

207.95.154.130

Thanks for the analyst information.
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