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Strategies & Market Trends : Lizard King's Trading Swamp

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To: Instock who wrote (4176)1/28/1998 12:55:00 PM
From: TATRADER  Read Replies (2) of 7396
 
Instock, on JPMX, I did not entertain short position, because of tremendous drop and great potential for short covering....Figured stock would muddle around a while and take back some of its losses..My long-term target is 10.00 a share....However, I would like to nail JPMX short if it moves back toward the 17.50 level,the neckline......The way to determine when it gets overbought is to use your fast stochastic 8 day, and when it goes over 80 begin to watch for turnaround, then entertain short position....Regards, Mark

P.S. I would have been happy with 11.00, if I was in before the drop...
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