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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (4672)	8/25/2000 2:46:30 PM
From: Zeev Hed	Respond to of 30051

Tim, I thank you for your earlier remark, even before the fog of battle dispersed, and i agree with you, it was pure luck, I saw EMLX print $53 in such a rapid decline that I simply selected a number $45, the fact it executed amazes me, I think there were no more than 10 to 20 trades in that range. My experience has been in such free fall that you get a strong bounce, because the shorts cover without nickel and diming, just like the play we had here some time ago in LGTO and few others, some times, however, I have been left holding an empty bag. I never commit more that 5% to such a play, so when I am wrong, I am not dead. That is why despite a two and half bagger on EMLX, the folio impact was "moderate". It is just nice, from time to time, to dish to the MM"s some of their own medicine (VBG). By the way, as it turns out, I pannicked in removing my GTC on SSTI at $28, I probably will have to pay mpore than that, maybe I should simply wait till next week for any additional commitments. Zeev

To: Logain Ablar who wrote (4672)	8/25/2000 3:11:39 PM
From: GTC Trader	Read Replies (3) \| Respond to of 30051

<< CMRC is trying to break out here, lets see if the shorts can keep it back. >> Tim, I was using the channel from 48 to 52 for the breakout. Immediate target, of course, would be 56, but the climb from 40 to 55 could be repeated for my 15 points. Do you see 55 as the breakout point? Is your target 65 +/- 5 points? If so, then what do you think of selling if the stock closes strongly (~54) in hopes of getting back in cheaper? A strong close on Friday might indicate a gap on Monday? I am in at 50 7/16, so I would not mind locking in a 7% profit, unless the odds seem strong that 55 will be taken out on Monday. I am just trying to learn and make some profits at the same time. I appreciate any input. Comments? TIA - HB P.S. HAUP ask just went to 7 3/4, then dropped to 7 11/16. High for day still at 7 5/8, with bid holding at 7 9/16. Does this puppy want to run? Volume not too exciting. It needs some gas.