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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Steve Smith who wrote (1613)	7/7/1999 9:53:00 AM
From: -	Respond to of 18137

PSEM is also retesting an old high in a classic "trader Vic" 2B... I would rather short that pig than go long it, this is a classic failure point. It's way extended... Not to say it can't run... but at least with a short your stop is well defined, and close-by. The risk-reward on a (long) breakout trade in a stock this extended, out in front of it's short-term moving averages, is not good. Anyway, your post really belongs on Eric's other thread... not supposed to put stock picks on this thread. Good trading, -Steve