Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 179.64

-0.9%

Dec 3 3:59 PM EST

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To: StockOperator who wrote (2155)	12/16/1998 12:34:00 AM
From: Trader J	Read Replies (2) of 56535

Tomorrow's action I believe will be positive early, with a decent negative flow for most of the morning. The early rise will be fueled by certain techs and Inet issues, only to give back profits towards late morning. Looking at market breadth, this wasn't a stellar day as the numbers would indicate. It was a market of stocks rather than a stock market. I would see this breadth as negative for the short term as the market digests more information and as we tire of the Clinton scandal. I am only playing those issues that make themselves presentable, and even then, only for a very short trades .... remembering my goals of $500/day. I vow not to forget this again. Sometimes still having the problem pulling the trigger on a sell until remembering my daily goal. This has only been a problem recently. Please pick and choose, do not chase in this market. When your issue tops a bit and churns .... dump it and look for reentry or don't look back. Sure the churning may be filling only to move higher but you can always get back in 1/4 higher....but you may not be able to sell at the previous level if it drops 1/4. Learn to take your profits relentlessly. It does work if you allow it to, only greed will keep you in longer than you should. Pick your times for entry wisely, not like my MOFN trade today. Picked a terrible entry based on shabby research on my part. Deserved to lose money. Do not let today's rally lull you into a daze that everything is dandy, this market can drop 300 points in a blink of an eye. In and out and quick until the Clinton issue is resolved. Be very, very careful of the nets and those not fairly valued. Trade well. Futures flat. Still looking to open rather strong on gaps, then consolidate and turn down for most of AM and PM. The golden hour (last hour of trading) will determine substantial winners and losers IMO. Good luck to all. Going to hit the hay early tonight and get rid of this tension headache that has been with me for 36 hours now. TJ

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