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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (24451)	6/19/2000 2:19:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

I am getting better at these continuation moves at strategic points. Much of the time they happen on a setup going the other way being invalidated which usually leaves me out of the trade. Sell stop moved to 1498.75 for a potential 1.5 point loss ($75). A small test of top is being put in. This is where it gets tricky. Taking breakouts like this is prone to whipsawing. Update 14:18 PM EST Stop loss moved to 1499.75. Update 14:25 PM EST Price contraction pointing to a possible move up. If this fails, I am out with a market order. This would be on a test of top in the 3-min time frame. I will be out at 1501.00. Update 14:28 PM EST Looks like I am out at a 3/4 point profit. Price is attempting to resolve downward a test of top on the 3-min time frame. Now a congestion trading range has been established on the 1-min chart between 1502.75 and 1500.25. Update 14:31 PM EST Looks like price had room on the 3-min time frame for a poke of the top of the trading range. I may have missed out here. Looks like despite my efforts, the whipsawing took me out. On moves like this, I suspect I should be keeping the stop loss at break even and giving it a bit more room to play. Bob Graham