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Strategies & Market Trends : LastShadow's Position Trading
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To: Behrooz Rezai who wrote (1966)11/2/1998 12:19:00 PM
From: Susan Saline  Read Replies (2) of 43080
 
PSFT has a lot of resistance at 22
that means ... when it hits 22 ... the sellers come in
that makes the resistance.

A buy stop at 22 1/18 to 22 1/4 is "safer" than buying below 22
at this moment, as shorts will cover there

It keeps trying to break through that 22 resistance, and when it does next near term resistance (selling) would be at/about 23.50 to 24

I am still holding firm from 19 7/8 entry and
NSCP entry ( afew days back) at 23 7/16 (bot that a too early, but I hate chasing them)
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