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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin! -- Ignore unavailable to you. Want to Upgrade?

To: Cape Blanco who wrote (1869)	12/10/1999 1:05:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 7434

Quad top break yesterday which is very powerful, as you have seen today. I think the best thing to do is carefully watch the chart. It hit a high of 14 so far on the chart and looks to be pulling back from there. What that may do is set a reversal down the next day and a better guide for entering the stock. It' s too extended here unless we get another reversal to set some sort of guide. Let's look at it tomorrow. Now, if the fundies are excellent, which I have no idea about, you could buy a small portion here and then look for a better entry for the majority later. This is in case it takes off. Important to note that while the short term indicators are negative we really should look for pullbacks to enter stocks. Currently the stop loss is way down at 5.5 - so you can see why I say wait for the chart to give you another guide.