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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: KM who wrote (33548)	11/16/1999 11:46:00 PM
From: Stephen	Read Replies (1) \| Respond to of 99985

Interesting reading other peoples posts. I like to position trade and follow the tape fairly religeously on the positions I hold. I had 1000 CMTN after the stock split announcement, but sold it at 84.5. I did this based upon the price action ... and some obvious paint taping. 4 days ago, with numerous trades at 84 .. and 84.25 ... there was a trade of 100 shares after 4pm at 85. Next close was worse ... a bunch of trades going off at the bid and ask at 86 & 86.375 ... and a trade goes through after 4 pm at 88. A few trades after hours go off below and above the closing price. Nothing yesterday though I wasn't watching too closely ... but today I see the bid and ask at 96.625 & 97.25 ... with the last trade at 98. Now ... the lock up just expired and I can see how the price is being supported so that they can unload at a decent premium (hence the timing of the stock split) ... but the frustrating thing is ... knowing that one did the right thing based upon informed price action ... yet leaving money on the table because of an attempt to be intelligent about the trade. To think I could have been out gardening or vacationing ... and been much better off. I'm out of touch with the market ... know it ... but feel that I should not trade before turning off my brain first. I also feel that, whilst being vigilant about the market may save me from a crash ... if I'd just closed my eyes and listened to whatever the current hype was.. I could have been so far ahead by now that a crash would almost be a minor hiccup (assuming it was a 'rolling' crash and I realised what was happening). Anyway ..... just thought I'd ramble for a bit ... Stephen