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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: $Mogul who wrote (16216)	9/21/1999 6:29:00 PM
From: Kimberly Lee	Read Replies (1) \| Respond to of 108040

today's summary: The confluence of several pieces of bad news sends the DOW down 225 and the Nasdaq 65, but we manage to do very well. We called the top of PPRO and decided to take profit when it reached the 47 1/2 area (+22 1/2, not counting the IPO shares), a correct decision as the stock never even came close to retesting the high again for the remains of the day. We also exited AGIL near the top when it failed to penetrate 79 on a sustained basis (+34, again not counting the IPO shares). As well, it exceeded the price target of 75 I set a month ago. Sold NSIL, avg 16 5/8 for a few points. Had the market exhibited a little strength, I would have kept it longer. Also, many, many IPOs are flooding the market starting late morning tomorrow. Because of the fragile nature of the market, I sold 1/2 BWEB at 19, a mere +3/4. Sold GDEN for chump change as the position was beginning to move against us. Staying in 85%+ cash in my trading portfolio with a few puts and short positions for hedging. All in all, a good day of taking profit, preserving capital and indulging in reflection, contemplation on the next few moves we are going to make. Later on today, I will go over the charts of $INDU, $COMP, Spoos, NDX, SOX and other index to take a fresher look at the key support and resistance areas.