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Strategies & Market Trends : Candlestick Charting--The unknown indicator

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To: PuddleGlum who wrote (1273)	4/23/1998 11:27:00 AM
From: MonsieurGonzo	Read Replies (1) of 1589

PuddleGlum; RE:" Candles " >I agree with Dom on FIBR's appearance... FIBR popped up to resistance this AM; hope he gathers steam. >I'm lightening up right now... Your timing is pretty near perfect, IMHO. You're getting better at this all the time, man. I rolled over further out and deeper down this week, into strength - so we're thinking the same way. >I chickened out on EGRP. Really, I've never owned an internet-related stock and I am risk-averse when it comes to those puppies. EGRP is a real scalp-type trade, based on those candlesticks - a kind of dead cat bounce sorta thing: in-and-out real quick like. The other, more hot internet stox are/were classic momentum trades - jump in and keep a trailing STOP 3/4 to 1-1/2 points under and ride 'em up. I feel more comfortable accumulating than I do riding 'em up - diff'rent strokes for diff'rent folks, I guess. >How are QCOM and HWP treating you? Today doesn't look good for either of them... They worked out just fine - when I had > 20% profit on the 10 CALLs I had in each of those, I sold 8 HWP and rolled the 2 "profit" into JAN99 70 LEAPS; put them into the profit portfolio. Sold all 10 of the QCOM's and bought 2 UTX JAN99 100 LEAPS; put those into the profit portfolio. AAPL Jul 30 CALLs still cooking, slowly; appear to be somewhat counter - cyclical to MSFT/INTC. When they're done, I'll probably sell all 10 and put the 2 profit into JAN99 MSFT LEAPS, etc. I'm long ASND May 40 PUTs, for some reason still not clear to me (^_^) Keep your eye on CL98M and CL98Z you oil tycoon! They're selling down crude oil futures again (so far) today. -Steve

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