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Strategies & Market Trends : gary smith shorts and longs

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To: Smilodon who wrote (391)	3/2/1999 1:46:00 PM
From: Fortinwit	Read Replies (1) of 430

Archer, I like the discussion very much. I make sure I do the same type of analysis; looking back and seeing what works and what doesn't. Just to clarify, I count as February trades only those trades that closed in February. Most of the trades that went bad in February were opened in January, in the middle of earnings season. In fact, most of the losers gapped below my limit point within a couple of days of the position being opened and I kept the trade going in hopes of salvaging some $$$. Also keep in mind that my particular strategy involves options, so with all of these busted trades, the February expiration was very painful as most of those bad trades had gone to 0 long before. Further clarification: AL. Went long in early Jan after resistance at 29/30 was broken. Good congestion from eom Nov through Jan. Hasn't traded above 30 since! It gapped below my limit within 2 days as I recall. DL: Still waiting. SFSK: Good congestion from eom Dec to Feb. Still waiting. Close to stop. GLW: Almost hit target yesterday. Sliding today. RNB: Bad trade on my part. I PUT it too late and it bounced from the day I entered my position. UNBC: Bad choice in strike. Should have gone with the 35s and not the 30s. Company started buy-back and has been upgraded. Close to stop. CR: Still waiting. Some comments on your trades: FON: Looks good above 85. Not so happy about the volume. I would have liked to have seen more when it broke above resistance. Looks pretty good though. ZION: Made my scans, but I again rejected it due to volume concerns. I would have gone long yesterday at the open. NTRS: Great chart. Entry around the 2nd week of Feb on a classic volume breakout. I'm not sure why I missed this one. I recall it made the scans. F.

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