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To: JHR who wrote (12656)3/29/2000 10:57:00 AM
From: LiamCK  Respond to of 14427
 
REPRINTED WITHOUT PERMISSION:

I've been a subscriber to a newsletter for a month now from a local radio host here in Boston. The guy is a technical trader, has been a trader for about 20 years, gets great guests on his shows: Joe Battapaglia, John Murphy, Tim Ord, etc.

I've done a few trades he's suggested, most recently shorting QQQ on Monday.

Anyway, he sends out an email every morning before the open:

Here's today's:

The Market is getting real weak. Less volume is coming in to the NASDAQ and NYSE. I expect the next few days we will have some up motion with the end of the month window dressing by money managers. Money managers buy more of the best stocks in their portfolios so the bid goes up and makes their portfolios worth more money.

For option player's .Buy the April 65 put (TQNPM) check the symbol, on TQNT (Triquint Semiconductor). It is an ABC down with the first price target at 70.It was bid at 1 1/16 and the ask was 1 9/16 on the close Tuesday. Don't put a market order in. Place the order somewhere in the middle of the spread.

ISSI closed at 31 1/8. It has to close at 29 1/8 or better to stay in the trade. It drew a doji on the close Tuesday. If it gets confirmed today meaning a bearish engulfing get out of the trade. A bearish engulfing would mean it opens higher than 31 1/8 and then closes lower than 31 1/8.

USB closed at 21 3/16. It has to close today at 21 ¬ or better to stay in the trade.

NPIX closed at 39 1/8. The option play was closed Tuesday. The market took back our double but we got a single.

QQQ closed at 114 ó. We closed the trade. It had to close under 113 15/16. This was around a 3 « point profit depending where you got in. This was a nice trade and I'm sure they are questions on why we would close the trade when it was going our way. I use 3 x 3 displaced moving average to stay in trades. It should of closed lower. We can always go right back in when the numbers line up and that's what we will do.

TQNT closed at 85. It opened at 87 on Tuesday. You maybe short anywhere from 86 « to 87 «. The first price target down is 70. The stop for intra-day and the close is 90 ó.

If you don't understand options. Don't take the trade.

Always remember folks the Bear can claw your heart out the Bull can run you over and there is always another trade.

I pay for this service and probably am not supposed to reprint it.



To: JHR who wrote (12656)3/29/2000 10:59:00 AM
From: Joseph Beltran  Read Replies (1) | Respond to of 14427
 
it's all I can do to keep from pulling the buy trigger on some of these: HLIT, BEAS, CTXS, BRKS, FFIV, VTSS, and maybe (SFAM??). where is this market going?



To: JHR who wrote (12656)3/29/2000 11:09:00 AM
From: SJS  Respond to of 14427
 
What do you think is going to finance the US debt repayment? <G>

It's us paying 50% taxes (federal and state) to do it. Keeping the market volatile is one way to keep people on edge.

RUN the market, make people rich on paper, then tank it and make them sell for fear of getting any of that paper gain and then........pay ST tax on what you did make!

These shakeout are trying. I mentioned last week that staying fully invested after this earnings season would not be the way to go. I've raised 35% cash in my IRA and selling other (now just profitable.....not mega profitable) stocks.

We're going into our fourth correction. Look at the NAZ chart.

Jim. Selling seems to be market not issue related at this time.

I feel like a genius now for selling TQNT at 82 1/4 (in my IRA) on Liam's call yesterday. It was a nice gain. My basis was 29. NO taxes! ....and I can re-enter when it turns. It's the "virtual short" theme again.

Fear rules now......where's LT when we need him!! <g>

Steve