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

To: Cathedra who wrote (33690)	11/18/1999 5:12:00 PM
From: Benkea	Read Replies (1) \| Respond to of 99985

Tom: "I am not happy, but should I be very afraid? I mean, isn't there a gap at 65 to be filled?!" Isn't there another gap around the 50 day about $53? Look at the stochastics and macd. It is real due for a rest.

To: Cathedra who wrote (33690)	11/18/1999 5:38:00 PM
From: KM	Read Replies (2) \| Respond to of 99985

I scalped a bit on an ORCL short but blew town when it became apparent that no selloff could take hold. Had much better luck with the pammy cup on PSFT as mentioned this a.m. before the open and ONSL which has been begging to be bought for days.

To: Cathedra who wrote (33690)	11/18/1999 6:21:00 PM
From: HairBall	Read Replies (3) \| Respond to of 99985

Tom Hoi: I shorted neither ORCL or VRSN. I only posted the charts because you and KM asked me to comment. I rarely publicly post my trades or investments. Depending on the individual trades or how many trades I have going at one time, I could never consistently find the time to post my trades, so I don't even try. I use multiple time frames to time my moves and for conformation. I use several indicators, trend lines and formations. Actually my daytrades were all longs today, two winners and one looser. However, the winners were allowed to run maximizing the gain and the looser was stopped out minimizing the loss. Sorry, but I did not even have time to look at ORCL or VRSN until I read your post. So I took a look before I responded... I shorted VRSN at 176 3/8 and covered at 173 1/4 when I got scared by the ferocious surge of the NAZ. Congratulations...nothing wrong with that trade. No one ever went broke taking profits. Personally, I believe it is better to have a lot of steady modest wins while cutting the losers quickly. Too many folks out there are always trying for the big win each time. This often leads to the big loss as well. I was not as fortunate on ORCL. I shorted at 70 7/8, only to see it break out to new high at 74+. I am not happy, but should I be very afraid? I mean, isn't there a gap at 65 to be filled? First when looking for a gap fill, always look at the past history of the stock to see how often it fills its gaps. It is a percentage play. Also, it depends on the dynamics of the gap (was it at the beginning of run, end of a run, depth of gap, etc.) as to how much weight you give it. (I expect that large gap to be filled, but gaps are not always filled and often are not filled the following day or days.) We all know, stocks do not always move in the direction one expects even with the best of TA and or FA. And, when they do move in the expected direction, the timing does not always cooperate. Direction and timing or equals to a daytrader. One should always have a stop loss in place and use it, no if ands or buts...<gg> Then, if the stock begins to move in the expected direction establish a new position. I have posted this over and over on this thread. See my NINE RULES on my Road Kill Page. (See my profile for the link.) I do not know yours (or anyone else's) loss threshold, risk tolerance or trading expertise. That is why I rarely publicly post picks or comment about individual issues. Usually when I do, it is an "in your face" call and I fill the need to share! I have thin skin and do not like being blamed for someone"s loss. I still expect ORCL to roll over soon. However, if you are above your loss tolerance, you may want to close your position and wait for a direction confirmation move. Good trading... Regards, LG