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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: dpl who wrote (2552)	1/18/1998 1:54:00 AM
From: Don Green	Read Replies (3) of 12617

> Were you looking to short something for the day. No,not at all, I watched Asia pop thurs nite and I saw Europe was also up strongly But the key for that day was I KNEW the market will sell off late in the day, because of the 3 day week-end.. So when I heard MU was donwgraded by the Top Tech analyst.I became interested. So I began to following MU closely. I knew with the strong upward pull of the overall market,this might cause MU to rise. I had a goal of 29.5 as an entry point.. When it hit that point I shorted 1000 shares. But then it keep rising..So when it passed 30 I sold another 1000 shares. But I was unable to short them above 30. I sold them at 29.7/8 So then all I had to do was wait.. As the day passed MU became weaker...Again I was 100 percent sure the market would sell off late in the day. But I wasn't sure what time that would happen. I had thought around 3:30 pm est. But it actually happened at around 3:49pm est... Well MU dropped and I was able to cover my 2000 shares at 28.13/16..for a nice profit... So as I stated I had not intened to trade MU.. It is, one of the stocks I follow, I was thinking about Rambus and Dell. But when the news came out on MU it was a perfect situation for my style of careless trading!!!! Regards Don

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