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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Robert Graham who wrote (13857)8/4/1998 4:41:00 PM
From: Lee Lichterman III  Read Replies (1) of 42787
 
I used my chart that showed DELL holding a channel and put my bid at the low of the day and lower than what I had paid the last 3 times I traded this way. I then watched the TICK and saw the sell programs kick in near the close and put my limit order in. I got filled at the close as DELL broke down.

Am I nervous, yes but this play has worked for me the last week or so. I fill during the fall then put in a high limit day order for the next day and usually catch a spike on the open or sometime during the day. The last couple times I sold within the first half hour of the day since DELL has a habit of spiking up on the open.

Is it a risky play, you bet. But it has worked for me so far. Now I grant you that I was not planning on the close being as bad as it was and would have cancelled my order if I had had the time before it filled had I seen the DOW and NASDAQ break down at the same time my order filled. Now all I can do is wait and see.

As I told Electric, I expect all eyes to be on DELL now that CSCO and AOL are out of the way. Also since the split is expected, DELL should attract other "dumb" money. Yes, I am playing dumb hoping other dumb money will buy higher but as Yahoo and AMZN have shown, never UNDER estimate the intelligence of americans. <ggg>
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