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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (5238)	11/10/2000 10:47:19 AM
From: J.T.	Respond to of 19219

mike, I have let my profits in some of these stocks like QCOM turn into paper losses only to go back to gains a few times now. Rule number 1 is never let a gain turn into a loss. On QCOM and HIFN, with my average down buys, I sold both stocks for minor profit. In CSCO I made a small profit. Rydex numbers, along with commercial position in this environment, has led me to realize that risk outweighs reward right now. If there is a decent chance we are going to crack serious support in NDX and COMP et al. i would rather sell early than too late. Like I said yesterday, I may sell or change positions on a dime. Tech is just getting creamed right now and I needed to move aside and let the dust settle. I may buy back on Monday or later when rydex numbers capitulate or the market sells. Best Regards, J.T.

To: marginmike who wrote (5238)	11/10/2000 10:55:47 AM
From: J.T.	Respond to of 19219

Mike, I listed 4 key support levels the evening before the open yesterday. We ran thru these supports and bounced back at the bell. Today we are at these levels a second time. If they break again and stick at the bell and close below these levels, it will be a bloody affair come monday. I just don't want to fight heading out the door if that scenario materializes. I want to be in cash and buy lower once capitulation materializes... This market is tipping over...and down... imho I will update support and resistance levels this weekend. Best Regards, J.T.