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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: Walkingshadow who wrote (11198)	3/5/2001 6:34:21 PM
From: mishedlo	Read Replies (1) \| Respond to of 13572

WS part of it has to be just stepping up to bat and taking a swing when the trend is in your favor. While you were waiting for confimmation on EMC, I took a swing at 78 and added at 72, and in fact felt stupid for closing out my puts at 50 (which I thought to be strong support). Note EMC did in fact rise to 80 after I bought the puts. I took a swing at ANF at 31 while you said wait for it to fall back test the high and fail. In the meantime I closed my strike 30 puts (purchased at 31) at 27 and bought them back at a discount at 29. Still holding ANF. Still holding KSS from puts from 69 although it rose to 71. Waiting for that retest and failure, again, did not happen, or if it did it was intraday and I missed it. I was early on IBM at 114 against your advice and it did rise to 118, but I sold at 100. Waiting for a retest and failure at 118 would have gottem me nowhere. My point is that when the trend is down, waiting for retests of highs is probably futile. M