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Technology Stocks : Buying IPOs on the open market -- Ignore unavailable to you. Want to Upgrade?

To: Kimberly Lee who wrote (4820)	11/22/1999 7:35:00 PM
From: Jim B	Read Replies (2) \| Respond to of 5529

he probably didn't mean much by it... you've been on a HOT streak and we all love ya... i think he just meant that some of your picks will spike up and then settle back down on either profit taking or shorting... but as you pointed out.. most of them end up staying down only temporarily.. before reaching new highs again... I'm hoping that is the case with ASDS... avg 17.5 ; I'm hoping I can hold this stock til we get your target in mid 20s... but I've got some bills to pay so I'm gonna have to sell something by friday... hopefully ASDS is much higher than $17 by then.. either that or maybe if RMKR can hit $25 this week then I wont have to touch my ASDS... we shall see.. sure wish I could have joined you in IMAN.. but I did play MSLV with ya last week.. though I sold it WAY too early jim

To: Kimberly Lee who wrote (4820)	11/23/1999 6:45:00 AM
From: SgtPepper	Read Replies (1) \| Respond to of 5529

Kim, I'm very sorry that my post raised such a heated response. I was only applying my "rules for spike trading," learned from trading BB stocks with Wayne, Lance and friends. This is for people who are daytrading or swing trading an IRA, on an unreliable internet connection, with no margin or short selling permitted. The plan does not address any specific stock, so I'm not trying to make a comment about SQST or any other stock pick. IMO all tech stocks, especially internet IPOs, are way overpriced now. But this doesn't mean much to a short term trader. 1. Don't go into battle without a plan. Follow the plan until there is strong evidence that it will not work. 2. If lucky enough to be holding a stock when a spike occurs (regardless of the reason why it occurred) the best strategy is to sell into the spike. Place a limit sell order slightly above the ask when the rate of increase in price begins to slow. If order is not filled in 10 minutes, change to a market sell order and forget about this stock. If the sell order is filled and the trading action gives good reason to get back in, go to step 3. Don't try to wait for the peak to sell. Usually, it will be too late by the time the peak is recognized, and the price may go down fast. 3. If not holding the stock and the price is already moving up fast, DO NOT buy on the initial spike. Wait for the first wave of profit taking and short selling. Place a limit buy order at the 2/3 retracement level. 4. If the order is filled, expect the worst. Place a stop loss order under the original price before the spike. Now go to step 2. Please note that this plan is not intended for you, Kim, because I'm sure you already have your own trading rules. It works for me. But I admit, I miss out on many good trades. I keep reminding myself, there are other fish in the sea. Again, I'm sorry if my post offended you. I think your picks are the the best I've ever seen. Please keep the posts coming and we'll all make $$$ in our own way. Hope you have a great Thanksgiving holiday! I'm sure you can use a break after all the hours you've put in this month. Harry