Lizard King's Trading Swamp Message Board

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Strategies & Market Trends : Lizard King's Trading Swamp

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To: GTC Trader who wrote (3376)	12/14/1997 7:04:00 AM
From: TATRADER	Read Replies (1) of 7396

Happy, Zeev will probably be right about the Christmas rally.....I am probably the best contrarian indicator around....When I get nervous and start to short, it means the shorts are ready to cover, when I go long, go short....I have not yet plugged in my TA on the overall market itself, and perhaps that has been my downfall... I took some pretty sizeable losses the past two weeks going long.... The lesson I learned again, is take losses quickly, and don't try to day trade when you are on your computer only a few hours a day....You must position trade.... I looked quickly at CPQ.....I am looking for more downside....There seems to be good support in the 51.42-51.75 area...Unless the Christmas rally zooms in upon us, we should test this level.... One stock I am tempted to go long on is ORBKF....Those shorts are going to have to cover soon, and we could get a bump of a few points...If I were a betting man, I would say they cover in the 27.50-28.00 level....You might even be able to make 5 or 6 points on that one should the Christmas rally develop... Regards, Mark

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