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

To: Robert Graham who wrote (25107)	7/10/2000 11:56:04 AM
From: Robert Graham	Respond to of 42787

A possible short at 1496.00 with the stop loss at 1497.25. Price so far came within one tick of me entry before attempting another push up. This is normal. Price now consolidating in the 1-min time frame with a series of side-by-side bars. If this continues, I will cancel my entry. Price hit my entry stop. This is an awkward sitiation that is prone to some whipsawing. I am looking for one more push down where I can more aggressivley pursue an exit. Here I think I have that opportunity now with price testing the 20 EMA 1 again. A move up from here I am out. Any longer and I am out also. We are getting into the lunch session now. Price continues to consolidate. Stop loss moved to 1497. Looks like I am out with a one point loss. The way it was setting up, it saw starting to look like a better play in the other direction. In this case I think it veifies I took a marginal trade. Also this is one of my weak areas I need to work on in what to do when this happens. Do I exit at a minor loss and play the setup to the upside. Or do I SAR? The former provides closure of the previous trade and allows for more planning and strategic entry. The latter allows room for the trade I am in to play itself out but still keep me available for the move in the opposite direction. But either way, I need to be able to manage these two trades seperately in selecting the setup and determinign entry independant of the current open position that I was in. This is psychologically a little more difficult to do with an automatic SAR on an open position. But it is more difficult to execute as two seperate possibly overlapping trades. Bob Graham