LastShadow's Position Trading Message Board

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Strategies & Market Trends : LastShadow's Position Trading

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To: Oral Roberts who wrote (2193)	11/5/1998 7:48:00 PM
From: LastShadow	Read Replies (1) of 43080

IOM & ADVO Jeff, I was really torn about whether or not to go long on IOM at close today for another gapping open. I didn't, even though I expect tomorrow might be a good day in general for the market, and because one can never discount that the company management might decide to make an after hours announcement to drive it up one more day. Its overbought, but you might as well look at the open and decide then. My guess is to keep a very tight stop on it like you said. the one thing that bothered me about IOM was that the selling pressure didn't drive the stock down anymore than the buying pressure moved it up. I watched on and off all day for some indication of a move and never saw it. As for ADVO, its traded way to thinly for me to wager any kind of guess on that one, plus the $1 swings on a $7 stock with all hte intraday gapping up and down is disconcerting. Looking at the chart didn't help, so I will have to bow out. Sorry lastshadow

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