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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Paullie who wrote (31674)	8/9/2000 11:58:09 PM
From: Mark Konrad	Read Replies (1) \| Respond to of 57584

LPTH...first of all, I would not recommend a sell stop at 33 1/4 even though that may work out to be the right play. It could easily rally from 31-32 without breaking any trendlines or triggering my usual sell signals and one would effectively be "whipsawed." But you have to decide what you're willing to risk in the short term and be able to sleep at night. "Close stops" is a relative term and that's why I said my range could be anywhere from 2-15% depending on factors such as you just mentioned. I prefer using support (SP) and resistance (RBOP) points as entry/exit guidelines and trailing stops to protect profits if I'm clueless. The cliche is, "Don't go in the entrance until you know where the exit is." Or, as Rande wisely advises, "Plan your trade and then trade your plan." Even the very best traders (and I'm not one of them!) WILL LOSE MONEY occasionally (and sometimes frequently). Lighten up your position (no pun intended) if you're not completely confident for all the right reasons; it doesn't have to be all or nothing. Scaling your buys and sells with multiple positions, even if they're smaller, helps reduce the volatility of volatile stocks like LPTH. Naturally, all of the above is only my opinion. Fwiw, I am also frequently unable to watch the market during the day. Thanks for your input, too, Paullie--Mark--