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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Phil(bullrider) who wrote (3058)	8/14/1999 11:05:00 AM
From: New Economy	Read Replies (1) \| Respond to of 10293

Phil: RIMM short. Firstly, let me get this clear. As a short-term trader, I have the option to be long a stock and short. "The rules are simple: markets tend to reverse after retracing 38%, 50% or 62% of dynamic trends in all time frames. Retracements that pierce 62% signal the trend in that time frame has ended and a 100% retracement is expected." Source: hardrightedge.com I hope to confirm this with some research and will give you more detailed information. For the time being, RIMM might not meet expectations as retail buying pushed it up and the same trend is there. Just look at the chart please. Looking at the chart I felt that $32.25 was a resistence level where it hit a few days ago and dropped like a rock. There is nothing wrong with being long a stock and selling it once it hits a resistence level.