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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: EtTuBrute who wrote (53503)	12/29/1999 5:25:00 PM
From: Mr. Big	Read Replies (2) \| Respond to of 108040

QCOM was only up 30% today and another 5% after market. Tomorrow and Friday will be really BIG for this leader. For tax reasons, no one is selling until next year... Big

To: EtTuBrute who wrote (53503)	12/29/1999 7:18:00 PM
From: stan s.	Read Replies (1) \| Respond to of 108040

TIER (thanks WUWT), hi ET, there are more positives than negatives. This stock has been in a general basing pattern since April. It broke over and held one important straight line of resistance yesterday...and one today...it then failed at a tougher one late today. It broke a medium down trend line to the upside yesterday and has put in 3 successively higher bottoms. All this and it tied it's biggest volume day in history today. Massive volume by TIER's standards. It's now caught between a new line of support at 8 3/8 and resistance at 9 1/2. These are open/close points. I use candles, real bodies...not shadows or wicks. This means I'm comfortable if TIER holds 8 3/8 at close...I'm not concerned with the intraday machinations for a position play. I often mention secondary surges (NTPL recently and WKGP before open etc.). IF this initial surge is now over (it's not yet clear that it is) indications are that the parameters for another will form, within the next couple of weeks. I bought some at close, that was in addition to my earlier daytrade. Frankly, the stock still would be healthy if it simply maintain s and up trend line that it's now riding. Believe it or not a dip to 7 would still have been okay as a forward looking position. A general comment for lurkers etc. (not aimed at you). I get the feeling that a lot of the upset (panic) occurs when these stocks falter a bit for two reasons. One is that people are putting too great a % of trading money into one stock. There are a lot of great stocks out there and I never put more than 10% into any one stock...be it daytrade or position trade. This takes the pressure off and allows more studied approaches to trading without the frenetic grasping or worry. You have to keep a cool head to prevail. One good idea is to split your amount for a single trade in half, take an initial position and then watch...if it falls to support and holds, put in the remaining half. If instead it marches higher and apears it's going to hold a break of resistance, put the remaining half in then. This is different than averaging down per se because you're still using money allotted for that stock. If at any time you don't feel comfortable that it will break or hold...then don't play the 2nd portion of money. The 2nd reason for panic IMO is the inability to read a chart. Charts can help allay fears when a stock starts to tumble, by showing acceptable and somewhat predictable parameters where a stock might fall and still be perfectly healthy. Conversely they let you know when unacceptable levels have been breached as well. They (charts) tend to forgive and/or point out trading mistakes. Stan