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

To: JRI who wrote (1551)	3/1/2001 8:41:04 AM
From: StockOperator	Respond to of 52237

JRI, You can always find reasons for doing or not doing something. The ability of the Fed to pop in anytime would be just one. At the beginning of the year I had a short position in OSIP. The stock looked toppy so I bought some far out of the money puts. Two days later I flipped on my computer after being away all morning and sure enough I'm up 400 percent on my position. Just then I hear Bill Griffith say "folks we are hearing that the Fed just lowered the discount rate a half a point." Lets just say that I couldn't get out fast enough. Going strictly by the technicals these two stocks like many of the chips are under significant pressure here. Besides having lousy fundamentals. Even if some good news surfaces, I am seeing stocks that SHOULD go sideways through the first quarter, then possibly a breakout. But hey, trendlines can be broken anytime. Right now, however, these stocks are beginning to roll over. Hope that helped.