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Non-Tech : Dorsey Wright & Associates. Point and Figure -- Ignore unavailable to you. Want to Upgrade?

To: Bruce Ravelson who wrote (8732)	7/19/2000 9:50:33 PM
From: Tommy Dorsey	Read Replies (2) \| Respond to of 9427

Bruce there are man ways to use a stop. A.W. Cohen one of the all time great P&F men would never let more than 8% go before he stopped. Once a stock has run like yours has we will normally set a stop for 1-3 of the position when the stock is up 30% and another 1-3 when the stock is up 50%.The last 1-3 can be managed in many ways from that point on. I often use the options market to hedge positions that have run up in a short period. It also makes a difference whether you are trading or investing. Traders will normally take all sell signals but investors are more interested in the stock remaining above the trend line. Our new book coming out, soon published by Bloomberg Press, called "Trading Tips........" Covers much about trade management. Since you are a client feel free to email me anytime you want to discuss any particular positions. I would peel off 1-3 in this area. I also developed and managed an options strategy department for a major wirehouse for 9 years. Feel free to discuss options strategies too.Tom