Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: UnBelievable who wrote (95027)	4/17/2001 8:34:54 AM
From: AllansAlias	Respond to of 436258

How to trade this leg for fun and profit I have spoken at some length regarding the consensus I am seeing among learned folk, mostly of the technical variety, that the coming down leg will be but a buying opportunity. Even I see this with my TA-eyes, but I am thinking that perhaps, this time, the chart huggers get "pasted" as Luc would say. How do I trade this? Yesterday's break at 2pm was a clear signal for me that the down-leg had begun (this was my "praying for a bounce" post). So, short bias and positions should be in place now. If they are not, we'll get a bounce here and you can get some. So, part I of the plan is to believe we have further down here and that's where the money will be made. Part II is to buy some long exposure once we get to a reasonable target for this dip. I think we can look to the 50% retracement as a reasonable target. That would take us to COMPX 1790 or so. That's also a good area for a support bounce. If you believe in the dip, then you might get reamed a little as we overshoot the 50%, but you won't care because you're short anyway. If we do not bounce at all, then hey, you still don't care because you are still short. -g (Lathered Bull Alert: If we bounce around that 1790 area, the bulls will go mad as they survey the inverse H&S that would be visible then.)