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

To: Casaubon who wrote (30903)	9/24/2000 9:11:02 PM
From: Lynn Goodman	Read Replies (2) \| Respond to of 42787

Casaubon and DMP--Thanks for your comments. O'Neill's premise is exactly the second alternative Casaubon mentioned-- that if you buy at the right time, the stock will explode through the pivot point. His position is that you want to buy the stock at 1/8 point above that price or within 5% thereof. So, I guess I can't always count on buying in the afternoon. one example is NTAP's recent explosion. Buying purely under O'Neill's system, I bet that I would have missed it (haven't checked, though). As DMP noted in response to my question, it may be that O'Neill's pivot point strategy doesn't work well in today's market. That may in fact be the final answer, I have certainly heard it voiced a lot. Yet his plays suit me better than having to react as quickly as you folks do, so I'll pursue the system for a while longer. One thing I didn't mention is that this method of investing is my way of raising cash plus staying involved. Most of my portfolio is LTB&H Gorilla & King stocks. The risk/reward suits me, but it doesn't give me any cash short term and there is not a lot of kick to it. So, I look to O'Neill's system for a short term 20-30% pop, and then on to the next thing. (I don't trade options--lack of education, I guess.) BTW, I have O'Neill type buys in on SEBL (earlier last week @101.625) and BEAS (limit order for tomorrow). The volume on SEBL has not been what I would have hoped, but maybe this week, and BEAS is what you might call an informed gamble <g>. We'll see. Any advice or hints re learning more about charting and specifically about volume charting would be greatly appreciated. One thing O'Neill really has convinced me of is to follow the volume. Thanks, Lynn