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.

Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: heenalu who wrote (24716)	8/8/2001 2:11:33 PM
From: NW_Trader	Read Replies (1) \| Respond to of 59879

Hi heenalu, im in a quandry,no convincing direction ??? Quick (and disturbing) thought: Take a look at a chart of the NASDAQ Comp from back last Nov. Draw a support line on the 2000 level. Now draw a trend line that starts from the Dec high (12/11, approx 3028) across the Jan high (1/24, approx 2892) and on to the present. You'll see that the May, June and July highs all stopped and reversed on it. This week, or early next week, it will intersect that 2000 line (as I type we are under that). What then????? Trades today: semi market did today what I expected Mon - pop up and swoon. Reshorted KLAC, still have NVLS. Haven't figured out MU yet, missed my short entry target by pennies. Out of ASTM ()for now) with less than a dime. Still in STEM, lower initial entry allows for a looser stop. Not much else happening. BRLI reversed yesterday on schedule, but I'm not in as don't want to hold it while gone and should take a couple days to play. STEM I'll hold (have several positions, both trading and longer term) but will set several sell stops for different positions in case the pop happens while I'm gone. Will also leave order with full service broker (a friend) for buy and sell if certain conditions are hit- very basic: I want to see 7 taken out on high volume run. Don't know where the top will be, but have targets of 10+. If you can watch the market, short is the way to stay. Peace and Justice --- Patrick EDIT: The market will humble you whenever it can - as I was typing my master plan for STEM, it broke 5.20 and by the time I could hit the execute sell it was down to 5.11. Now out of yesterday's position - about a dime again.