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Strategies & Market Trends : Options -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (7004)	4/27/2000 5:37:00 PM
From: Seldom_Blue	Read Replies (1) \| Respond to of 8096

Hi Poet, It was hard to see some significant profit disappear. Worse yet I was still feeling the naz would continue to go down. I have to say today gave me a bit more confidence. I much prefer a sharp downturn at open with a rally at the end of day. Perhaps we have reached the bottom technically? I am still not feeling good about the rate hikes coming up. The question is whether the hikes have been priced into the market. I am only concentrating on infrastructure companies because they will make money regardless of the economy, perhaps at a slower pace. I am not committing any real cash until the fed action on May 16th. Good close today. Up 25% from the low a couple of weeks ago, but down 37% from the high. Almost back to Jan level... Another thought: I do think we probably should look at G&K stocks for our option plays more than other high flyers. Not to discourage discussion, but those G&K stocks do seem to hold up a whole lot better. I am going to focus more on those in the future. One of my friend's brother lost all 200K of his portfolio in the last month. Do not know what he was into. But those stories about people getting wiped out are definitely real. Seldom Blue

To: Poet who wrote (7004)	4/27/2000 5:47:00 PM
From: Cosmo Daisey	Read Replies (1) \| Respond to of 8096

Poet, Day trading. I watch the Island Book that lists the open limit orders and place my limit buy where the good volume is, usually a couple of points below market. The market comes to the volume. Once triggered I place a limit sell also where the volume is with my order a tennie under the majority of volume. You can tell when the pro's arrive because they stack up 20 or 30 limit buys 200 shares each and clean out all the sellers. Then they place sell orders about four points five points and six points higher and within minutes they are filled. That's how a stock price is moved. If it works they do it again and take the price higher. Low float volatile stocks work best. Interesting to watch it happen but it screws up my trading as I am usually sitting with a limit sell and they take the price ten points higher than my sell and I lose opportunity. If I am watching closely sometimes I can cancel my sell order when I see their buys but the whole process takes seconds or minutes. Tomorrow when I have a limit sell in place I will prepare a cancel order and sit with my finger on the trigger and cancel when they come for a raid. I traded AVNX four times today before they showed up and took my limit sell at 114 1/2 and ran the stock up to 141. I was working with a few points but the raider had a better day than me. cdaisey@how-it-works.com