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

To: Rick Dudley who wrote (26299)	12/7/2001 7:58:29 PM
From: NW_Trader	Read Replies (1) \| Respond to of 59879

Hi Rick, Apologies for such a delayed response - major 'puter problems today. INKT - well if you followed your own style you did well today and sold near 7.25. Given the way it reversed, I'd have sold today as well. The trade I had in mind was to enter (preferably in the first hour with volume coming into the stock) at 6.6. Two possible trades were planned. #1: a daytrade w/ possible overnight hold - stay long to 7.25 area (top of the current trading channel trend line) and if stock reversed there then consider going short to ~ 5.5 (bottom channel trend line). #2: multi day swing trade - long and if stock breaks out thru the upper channel line, stay in the trade until either it returned to that TL or got to the 8.5 +/- area where it could reverse or stall. Looking at it now, Trade #1 would have been the play, but probably would have covered any short in last hour when 6.5 seemed to hold. TA skills come from study of charts, reading everything you can get your hands on, asking questions, and (ultimately) sweating thru trades and studying your trade journal afterwards. Keep a journal and always critique yourself honestly - both the winning and losing trades - to understand what you did and what could have improved the trade. This board is a great source of help, but ultimately you have to know why you trade - and only you can do that. Have a great weekend and keep up the study - I have no doubt that you have something to teach me or someone else. Peace and Justice --- Patrick EDIT: Don't recall if I posted the exit for LVLT - out when it couldn't retake it's early high, news of it's acquisition of MCLD's dial up business will get digested this weekend and may cause some to exit on Monday. Volume was off as traders and institutions didn't seem to think the news warranted running the stock.