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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: nokomis who wrote (67187)	10/20/1999 7:35:00 PM
From: croonerjim	Respond to of 120523

Oh Boy--am I in the same boat!! I've tried to overcome this by just putting small order in just to get started. It has worked sometimes, but greed also plays a factor! I also need help breaking the "bottom-fishing" tendency--must learn to wait for a real signal. Will be interested in what others have to say! jim

To: nokomis who wrote (67187)	10/20/1999 11:01:00 PM
From: lee kramer	Read Replies (6) \| Respond to of 120523

Nokomis: You're not alone. I suspect most of us go through the same thoughts. A stock may open up three or four higher, run some more and we hesitate to pull the trigger. I say to myself "Gee, it's up eight here. If I buy it and it drops I'm gonna lose and feel like an amateur." So I watch. Then it's up ten, twelve, eighteen. I won't get into T/A or "tools" here but I'll offer one suggestion; if your normal trade is 200 shares, buy 50 shares of that stock that's up 6 or 8 already. As you get more confident over time, you may want to increase your entry position. And in the meantime, enjoy those 50 shares. You won't get rich in a day, but you won't get clobbered either. (Lee)

To: nokomis who wrote (67187)	10/21/1999 8:05:00 AM
From: kendall harmon	Read Replies (2) \| Respond to of 120523

Nok, this is such a great question, and it is so hard to answer well. I am sure other better traders like Jenna will have more to say. I have three thoughts to add: (1) There is no substitute for intraday technical analysis as an aid. It is not just that a stock is up big but HOW is it up? Is it seeing higher highs and is that shown one the one minute and five minute bars? Those are the ones to be in. MICTF yesterday was a good example. (2) It is a very good discipline in these situations to take partial profits on the way up. I am often amazed at how few traders do this. Simply decide ahead of time that if a stock rises a certain amount you will sell 1/2 of it or 1/4 of it or whatever. This will up your comfort level and allow you to ride the rest of your position higher. Example: yesterday I bought a small position of IIJI at 51. It was already up big. I took a profit on some at 51 1/2 as a discipline, and rode the rest to 53. (3) The only other point to make is that you are really onto something. Stocks that go up, go up, and stocks that go down, go down, is not a universal law, but it is very often true. Failing to enter stocks which are up a bunch already is a mistake many newer traders make. And they often go still higher. Just look at the moves in MSTR and CTSH over the last month for support of this final point.