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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Steeliejim who wrote (12916)	3/19/2002 9:42:38 PM
From: kodiak_bull	Respond to of 23153

Steelie: "Typically, by now, I would have taken my profits off the table and begun looking for the next opportunity" JMHO but it seems to me that you are taking the hard profits and letting the easy ones go. In NXTL and SMTF you bought in the downtrend before the reversal was complete--to me, those are hard profits because you're pretty much flying without instruments. After the reversal and confirmation all it takes, generally (there ARE exceptions, of course), is patience to harvest the extra profits. Of course, these things can bounce down hard again and all your profits disappear, but if you're not too greedy (just the correct amount of greedy) you should be able to ride something like SMTF for at least a dollar from here. Btw, I had a bid in for SMTF shares today and missed by a few pennies. Kb

To: Steeliejim who wrote (12916)	3/21/2002 12:52:26 PM
From: kodiak_bull	Respond to of 23153

Steelie: [Edit: apparently we were thinking of the same thing at the same time; unfortunately, I went into the market 2 days ago and got a starter kit on the below referenced stock.] It's so much easier to talk about the good moves than the bad moves, but it's the bad moves (and the push years) that teach us what we need to know. SMTF is certainly a surprise ratchet down after what looked like a classic, confirmed reversal. All the more troubling since I was patient and bought an initial slice at 12.17 for what looked like a reasonable play back to $13.75 or higher. In analyzing why it didn't perform better (a la NXTL), it's hard to see it clearly. It came down hard 3 days in a row on big volume, which indicated that most of the sellers had gotten out. It paused and confirmed with a gap up pattern. Since then it's sold off hard 2 days in a row, and now, looking at the chart, it's not clear that there's a bottom in the offing today. That could change and it will depend on the close, but as of right now there's no indication that it is bottoming, so I've got no inclination to add a 2nd slice here yet. Kb