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

To: GTC Trader who wrote (5078)	9/14/2000 4:19:02 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

I am a little perplexed by the weakness in INTC and CSO. Grant you, both have very generous valuations, but if indeed we are on the verge of a sizeable rally, they should at least hold. The fact that both did not hold well, is worrysome. Not enough, however to change the turnips forecast. As for your position, I think that INTC is going to recover next week with the market, so unless we print $58, I would hold (gosh, if we get to $58, I might buy myself, but on valuation basis, I might get into AMD again instead). As for the SL, when you put a Stop that the MM's can see (with your broker), and it is not too far from where the market is, they may simply execute you and your order, they have done that to me before. So, I use a "mental" stop loss, only when the stock closes below or, sometimes during the day, when it prints below and I "feel" it won't recover (a bunching of asks is a good sign), then I pull the sell trigger. Zeev irrevolute.iuma.com