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Pastimes : The Big Tex House of Coin -- Ignore unavailable to you. Want to Upgrade?

To: Spark who wrote (15678)	12/22/2000 12:29:13 PM
From: Jeff	Read Replies (3) \| Respond to of 19297

in this dangerous market now where its better to just trade intraday......instead of getting burned with falling knives..... i just do one simple thing that makes it safe and easy... i just draw trendlines on the 2, 5 and 10 day charts.....then i find support and resistance levels to trade off...... like yesterday.....i said i wouldn't go long till it broke 2430 .....when it broke that today i went long a high flyer because they can get you 4 to 6 pts in a heartbeat........ then i looked for the next resistance level which i saw as 2500......so i planned to sell my long there and go short........then i saw support at 2470.......since it didn't break that......i sold my short.......that little plan got me 6 pts today total on a long and short...... now i wait till i see what level is next to break.....and have my next long or short picked out...... its easy and safe......and no taking chances on getting caught in gap ups and gap down.....earnings warnings.....downgrades.....catching falling knives...... but you have to trade stocks that can swing 5 to 20 pts a day...... HO HO HO