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Politics : Idea Of The Day

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To: Bart who wrote (12969)	10/28/1997 5:06:00 PM
From: Judy	Read Replies (2) of 50167

Hi, Bart I use Scwhab also, both electronic and 500. The only way I got any of the gifts the market presented today were limit orders I placed yesterday. WIND, CSCO, INTC, TLAB were gifts today and I missed all but CSCO. I managed to trade CSCO by selling Nov 80p (my limit was not set at the optimal price!) Been expecting CSCO to test its 200-day mav at 70ish and for institutions to rebuy before earnings. My sense was that the institutions had locked in their profits on CSCO earlier and the 30-day wash rule had long passed (chart pattern and mf during previous months support this scenario) ... so they were bound to reenter at bargain prices. While the DOW and NAZ indices may revist their lows, I doubt that quality stocks whose earnings reports and forward guidance are already out will revisit the lows of this morning. Panic lows are seldom revisited unless there is reason ... Click on my name, I left a similar post for Paul.

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