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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (17679)	6/12/2001 3:37:03 PM
From: Sabrejet	Respond to of 30051

Larry, currently, I will look at the afterhours market to add to my new long CIEN position. I bought in @50.78 early this afternoon but on a chart basis, it's quite confusing. It gaps up or down and basically never opens flat. With that said, if we get a small rally here, it's a darling among tech fund managers and retail traders. 3 straight days of gap downs tells me, we are do for a short term reversal for trading. Candlesticks will confirm that. How's that? I have always told you I respect your opinions but let's move on and make some money now. Sabre!

To: TREND1 who wrote (17679)	6/12/2001 4:30:39 PM
From: Sabrejet	Read Replies (2) \| Respond to of 30051

Larry, with all due respect, I have not made a habit of posting all the moves I make and will continue the trend as I go forward. The current "bounce" we are in is something I don't have much time to "report". You see, that's where we differ it seems. I use TA as a support tool. I couldn't tell you a thing for the first two hours of trading. Nothing I watch gave me a clue. At about 12:30 I could see some buying and more importantly, a lack of selling. That allowed me to risk what I thought was a low risk trade. I have no major feel for the futures tonight but the space I have in CIEN allows me to hold and wait. If the futures are up, then we should be good to go in the morning for a gap up. Nothing 100% but if you ask any good trader, I don't make absolute predictions. Too many variables. I have no idea who will pre-announce between now and 9:30 tomorrow morning. I'd have to be completely wacko to know all that. We all need a bit of luck. That's a fact no one can deny. BTW, I have orders in GTC to buy PFE @42.50 and 40.00. 1 Year out I think that's a 50% gain. Sabre!