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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: t_w_b who wrote (75834)	3/5/2001 9:50:03 PM
From: mishedlo	Respond to of 436258

My formula has been to wack a mole. Actually I was looking for relatively strong charts in sectors I thought to be weak. That way, I have an easily defined exit point. ANF stalled at 30 weeks before and so I took a shot at it. I did not care if it was high above MA's or not. Actually, on a choppy chart I would prefer that. Lots more room to fall. On a non-choppy chart (MO), I would just stay away. Took reasonable ANF profits and then rather than wait for a full retest of the high got back in "earlie" and oddly enough that was as high as it got. I was early on IBM at 114 and watched it get to 118 on me. Did I like it, not at all, but I WILLED it down. Cashed out at 100. Got back in at 106 but forgot to cash out at 98. That "rumor" cost me big time. LOL Sometimes when you wait too long a lot of the profit is gone waiting for a retest or whatever that does not happen. I am not sure I am as successful as you think. In general, I have closed out my puts far far to early. I rode EMC down from 78 all the way to 50 where I thought it had strong support. Totally missed a huge downdraft on the end. However, at the time I entered, it might not have been one you would have considered looking at at all. The chart was "strong" at that point. (look up EMC the last time it was at 78). Right now, I expect an options manipulations runup, a clown "botton fishing" runup, a just plain we are oversold runup, or a Greenspan fever runup. On that basis, I may close all PUTs by the 9th. If insanity takes over, and it very well may, I hope they can rally CIEN about 10 points above max pain which is 80. I will not care 1 iota whether or not the chart looks strong weak or in between. CIEN at 90 is totally absurd, especially if it at all appears over bought. My actual target is about 85 but a clown runup to 98 would not surprise me much. The other thing I have been doing is gettting ideas from this board. I made $ on NETE, COST, COLT, KSS none of which were mine. I repeated what I was doing and others made $ off NETE as well. I am not sure if the person who suggested it, played it at all! ANF happened to be my pick. Other may be in it now. It performed well today. Right now, we could fall big or rally big and it would not surprise me. That makes me quite nervous. M