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To: Lenny Rosow who wrote (12038)	4/4/2000 9:45:00 AM
From: Jon Tara	Read Replies (1) \| Respond to of 18366

Lenny, I didn't post a trade - I posted where I felt the stock price is going. There is a difference. I don't use where I feel a stock price is going as trading criteria. As a day-trader, I try to get the best part of a potential move - I want to grab the largest profit that I can grab in a short period of time. I cut losses very quickly - I typically try not to take a loss of more than 1/4 point, while my typical gain is 2-3 points. (Of course, this depends on stock price.) Of course, on longer-term trades, I give more leeway. If I entered a short trade now for the next couple of weeks, I suppose I would exit the position if it went against me by a point. So, assuming I'd entered at 10, I'd cry uncle at 11. But that isn't where I'd admit that I was wrong - just when I'd prudently exit the trade. I am willing to exit a trade even though I still feel that I am right, because it wouldn't be prudent, given my short-term trading style, to stay in the trade. That is, the money would be better deployed elsewhere.

To: Lenny Rosow who wrote (12038)	4/4/2000 10:07:00 AM
From: Jon Tara	Respond to of 18366

Well, Lenny, here's 9. Will she hold? Scotty, how are things in Engineering? Actually, there appears to be considerable support at 9 on L2. 7 MMs on the bid. As I had expected. If it breaks 9, though, all hell is going to break loose. Think we'll know one way or the other by the end of the day. Whoops, the support is eroding. Maybe I misestimated the level of support at 9. Come on guys, load up the boats! If 10 is a deal, isn't 9 a better deal? Back em' up and move em' out! Whoops, now only 2 MMs on the bid... Hey - off of 9 - the fish has a little more fight in it. Good - that was just TOO easy. Come on gang get those second mortgages while the rates are still low!