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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: Richard Mazzarella who wrote (21019)	3/4/2001 8:47:59 PM
From: TATRADER	Read Replies (1) \| Respond to of 59879

Richard, I have read tons of trading books, but I have found that if one just keeps it simple, and uses a few indicators well, one can succeed nicely....CSCO 1.One item always that I use is the basic pattern..Take a look at the chart on CSCO, the head of the pattern sits at 80 a share, and the neckline at 50.00..That tells me the stock has about 30 pts of downside, giving me a pattern downside target of 20.00 a share.. 2. I also used a Gann Retracement study with 15.00 as the base...That gave me my first buy target at 22.50... 3. Finally, I used a Gann extreme study using 10.00 as the base, for a secondary buy target of 17.50.... So, if I was a hedge fund manager I would have bought my first load of CSCO at 22.50 on Friday....If the DOW eventually moves below 10,000, which I think it will(my 2001 target on DOW is 9200), then I would finish filling my CSCO position at 17.50, giving me about a 20.00 per share cost for my shares.... The mistake I made Friday was going long when the overall market was still tanking...It was thus easy for the marketmakers to hit my tight stop...