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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 (21020)	3/3/2001 8:26:42 AM
From: TATRADER	Read Replies (1) \| Respond to of 59879

you are right about them taking out stops, but it is just a part of business if you want to survive...If your timing is right, they shouldn't go after your stops... On CSCO, I was looking at the low for the day and the prior day low..The low was 22 1/2 and the prior day low 22 1/4...If indeed we had a bottom as I anticipated, the prior day low should have held...Further, any trader who wants to survive should take no more than a 3% loss on a trade, in order to survive..Jeff Cooper sets his stops so tight that many times his losses are 1%-2%...There are many ways of setting stops from setting them underneath an envelope channel or Bollinger band, moving average, below necklines on patterns, or making use of price pivot points... A pivot point adds the high, low and close divided by 3.. Multiply by 2 and subtract from previous day low..that is pivot high-resistance.. Add high,low, close divided by 3 and multiply by 2 and subtract from previous day high, to get pivot low for support...Can also do a tad more to get extreme resistance and extreme support, but won't go into that... I am expecting a rally on Nasdaq next week...We are seeing a very positive divergence in the Ultimate Oscillator, one of the indicators I use when a stock or index has been in a long downtrend...Looking for 2400 on the Nasdaq with a 40% retracement...Take 2900 minus 2100, for 800 pts..Take 40% for move of 320 pts...Move sometime next week on Nasdaq should be to 2420-2450 area.. I would sell your CSCO in the 27.00-27.50 area late next next week... Got to run to a funeral...Take care...Own GLG and HGMCY and planning to buy MDG in 6 1/4- 6 3/8 area early in week along with AEM in 6.00-6.25 area....