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To: SliderOnTheBlack who wrote (50449)9/5/1999 8:18:00 PM
From: ron peterson  Read Replies (1) | Respond to of 95453
 
I must have been the straw that broke the camels back. Glad to see you in true form Slider!
Ron



To: SliderOnTheBlack who wrote (50449)9/5/1999 8:37:00 PM
From: Gary Burton  Read Replies (2) | Respond to of 95453
 
fwiw-I can understand exactly where you are coming from and why as to your trading perspectives. I sold TMR at 4.75 a few days ago on a hunch and bought it back about 2 days later at 4.63 when my hunch level changed. I do such things fairly frequently as it keeps me out of trouble and I can always buy it back later type of philosophy.... Had I owned MEXP on the day of the slide, I too probably would have bailed for the momentary peace of mind of not having to worry about an adverse press announcement.In cases like MEXP- which starts to dive during a timeperiod when it is expecting a financing to close that would be crucial to its very survival--the smart thing to do would have been to dump it on the sliding day and reassess the situation in the morning to see if any news developed. That way, traders live to play another day instead of being bombed for the big loss. Traders have to take small losses quickly and unemotionally even in stocks they feel very comfortable about. The fact that you flipflopped on RRC a month or so ago and now MEXP and probably many others doesn't surprise me in the slightest. You've told everybody here countless times that you ar a trader and that's what traders do. Nobody should be the slightest bit offended. From my perspective, you can only 'hype' a stock to me if I let you as I am solely responsible for my own decisions. For some folks to therefore accuse you of pump and dump is just plain silly.



To: SliderOnTheBlack who wrote (50449)9/6/1999 8:14:00 AM
From: Roebear  Read Replies (1) | Respond to of 95453
 
Slider,
Glad you didn't have a change of heart on RRC (baaaaa, baaaaa VBG).

As I noted:
Message 11147092

"With NG making a Perot like sucking sound to the south I sold some RRC shares bought for 4 3/4 at 5 1/4. I will be joining you getting in again around 5 or lower, its just that I thought it would stall today and retrace."

I sold some RRC and got back in. There was considerable buying pressure in the 5 1/16-1/8 range so I could not reestablish a better
rebuy price than that. The other play I bought to do something with the money while I waited for RRC to retrace was also good for 1/8. Hoped for better but I'll take it

Also, I would like to note that this trade took advantage of the negative hype about NG prices:***

The price pressure put on by the drop in oil and NG prices today was a match for much
negative sentiment played in the papers/news. I believe someone is trying to put up a
firewall to keep energy prices contained a bit. RRC held up rather well as did a number
of other OSX stocks. We will see shortly which way this divergence between OSX and
oil/NG prices goes.
***

The NG price firewall was being built, Barrons article shows it won't hold up, but it gave a sentiment/news kind of insurance that combined with the expected retrace on the RRC chart made for a pretty easy trade.
Also a gratifying call for a sheepish poster like me...
hahahahaha.

PS, I would also note that as RRC did not get down to its full decline measurement of 4 1/2, it also did not achieve its full retrace to
4 7/8- 5 I was expecting. With the pressure on NG prices last week adding fuel to the retrace fire, I would construe this RRC price action as pretty bullish. IMHSO of course.

Roebear