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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Robert Graham who wrote (8011)4/29/1998 4:37:00 PM
From: Judy  Read Replies (1) of 42787
 
HWP ... an example to discuss general concepts

On any given day the tape action on a stock is academic, it is the sum total over a key interval of time that gives the more accurate picture. I don't watch blow-by-blow action in stocks, but felt compelled to comment on your HWP observations since I do not concur on the whole.

HWP ... had been consolidating for months in the 60-66 range with block accumulation by funds waiting for the inevitable improvement in fundamentals, they were not retail buys. For this reason and belief in the changing fundamentals for HWP I traded the stock even though its chart was not so hot. What you watched was the additional accumulation by new funds just prior to breakout and the news of upgrade, normally the bulk of accumulation occurs much prior to break out. Quite natural some funds who accumulated in the low 60's would take their money off the table, 15 points profit is nothing to sneeze at in a shakey market. What one should watch for is the funds who accumulated at 70ish do not abandon ship ... and would step up to bat to protect their positions. My sense is that they are doing that.

Bob, you've mentioned that you were a short-term trader, but it appears that the time interval during which you observe stocks prior to entering a trade is not quite so short-term. What is the normal timeframe of your trades?
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