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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Jerry S. who wrote (18073)	7/27/1999 12:09:00 AM
From: Trader J	Respond to of 56535

Jerry: I do like NPLS but I am not going to fight the trend on it. It is too new of an issue and is now into new territory.....I would much rather sell now and pick it back up on strength. As a trader, that is what I must do. If this were a long term hold, like my QWST, DIS, WMT, PDYN, etc., I would wait and pick up more to avg down my cost.....but as a trading position, you cannot afford to do that. AOL is a different story...although could have the same result. There is support around 90 and this has been a pretty ugly week for AOL coming out of the high 120s..... The nice part about AOL is that it trades at 5x the price of NPLS so 1 point of loss isn't nearly as bad....however, it can also move 5x as fast. But....usually it moves like a battleship, doesn't do anything so quick that you cannot react. The other thing that I like about AOL is that if it were to drop I would be willing to keep it as an intermediate position trade and avg it down. AOL is pure quality and it would not surprise me to see it back at 125 before the end of the week. Only lack of confidence is holding this market back and it shouldn't take much to start a rally. But I-rate fears are the rage again and that is enough to thwart any rally....not to mention that volume was anemic today. But I do like AOL here. J