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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (96)	1/12/2000 2:23:00 PM
From: Steve Lee	Read Replies (1) \| Respond to of 30051

I would say it bottomed on the 7th of this month so the current price would look like support. Rationale behind this is the steep drop followed by the very high volume on the 7th with no further drop and then slight recovery. And it matches with the resistance from early July. Of course the stock has so little history at these levels that support is not going to be particularly strong. I'm sure you're familiar with the use of stop losses so this shouldn't be a problem. Apart from that it's not a stock that I've ever traded or really looked at before. I got out of some INTC calls at 89 1/2 a couple of days ago, thinking it wouldn't get thru its all time high - but it did. I'm very bullish on INTC and much of my net worth is in INTC stock. Do you have any techniques for judging where to get out when a stock is in uncharted territory? My current thinking on recognising the end of a rally would be to look for increased volume with no further appreciation, or I would take a gain in stock price of 60% from the breakout at 84, as 60% is about what you get out of a strong INTC rally. What would you do Zeev?