LastShadow's Position Trading Message Board

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Strategies & Market Trends : LastShadow's Position Trading

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To: John J H Kim who wrote (8178)	2/9/1999 5:22:00 PM
From: LastShadow	Read Replies (1) of 43080

LCOS USAI, in a correction, could go as low as 25 which is the last resistance level. That means LCOS could go to $56. Having dropped from an open of 139 yesterday, a gap down to 113 today, and then hitting a rubber floor at 86 to close at 94 is a 32% drop in two days. A second sustained correction like that wouldput it at 62. LCOS climbed 40% on its last gap up, and had an intraday trading range between 144 and 89 the following day. If we accept that the market went wild driving it up, we must be prepared for a similar correction. Set a stop AT, and set it tonight. The closer one's order is to the front of the pack, the more likely an early fill. ls

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