BAMM - BOOKs A Million (BAMM) .. the next Amazon.com ???? Message Board

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Technology Stocks : BAMM - BOOKs A Million (BAMM) .. the next Amazon.com ????

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To: 45bday who wrote (799)	3/12/1999 11:34:00 PM
From: Wayners	Read Replies (1) of 1196

Remember they always tell you to buy fresh breakouts. The reality is the majority are false. The most common pattern is for prices to go to a new high or new low and reverse back inside. The break occurs just long enough to collect a lot stops, get a lot of volume, deplete a lot of supply or demand FAST, which accounts for the rapid reversal when that buying or selling quickly dries up. These periods are indicated by much longer price bars than in the periods leading up to it. Its a good way to pick tops and bottoms. I never sell the plunge with a stop. Instead I wait and watch the inevitable reaction and judge its strength and if it appears the bounce is waning, then sell--hopefully very close to or above where I would have placed a stop to begin with.

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