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Strategies & Market Trends : Action & Options- Taxikid plays

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To: Caroline who wrote (2954)	12/5/1997 6:24:00 PM
From: taxikid	Read Replies (1) of 4339

i will dig deep now.. taxi klic i would speculate that it will retest 22, possibly to form a triple bottom there- the head and shoulders formation IMO is bearish.. as the right shoulder is falling.. therefore not a shoulder.. if it retests 22 and bounces that will be good for the stock, on the other hand if it bursts thru that last resistance... you are SOL.. but... short interest was 1,738k up 34% from last month.. that was as of 11-15- volume on stock since then doesn't indicate that the shorts have ran away.. in fct it appears that there may have been more shorting as price was rising those days after the 15th..{i see that as a BIG positive.. while not digging super deep.. check the float and subtract the funds that still own{institutional holders} they most likely will be buying here- and that will put a squeeze out.. since you already got hurt because you didn't set a stop.. you have three choices.. if the position is big enough.. wait for a small pop up and write calls {out of the money for dec.. and then collect a few free dollars that way.. or dump and take the tax loss, or hold.. and holding may mean 6 days, six weeks, six months.. what goes down usually goes up.. i don't know the fundamentals. and i was happy myself o have weathered a storm with a stock that every 1/32 cost me $400... it went down 9/16.... i hadda hold because the stop loss i had intended was 1/2 point lower- i intended to hold for 6 months.. anyway enough about me... i will go on to the other one in a minute.. taxi OH yeah you can also buy more and average down.. but that requires steel ORBS..

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