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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Ron who wrote (40359)	11/16/2003 9:43:35 AM
From: Highway Jim	Read Replies (3) \| Respond to of 71156

To all...when you want to place a stop on a stock to protect your upside gain, what do you believe is the best method? Stop order or a stop limit order? Thanks

To: Ron who wrote (40359)	11/17/2003 3:08:30 PM
From: Johnny Canuck	Respond to of 71156

Hi Ron, Sorry for the late reply. I am in midst of moving apartments right now. I have the same read on the market that you do right now. The indicators that I use show that market is overbought, but not ready for anything more that a minor correction. A big one is coming, but not over the next few weeks. A break of a major support would change my mind in a hurry though. That or a big where we test the high again with a tick reading of 1000. This year has been interesting in that we did not get tax loss selling in October by the mutual funds as we have had in recent years. Most funds are probably sitting on gains, so it turned into a non-event. This generates an interesting dynamic in that funds will probably sell in December to lock in some gains, so they raise money so they can take new positions in January. Again I think this will cause only a minor correction. Indications right now are for an improving economy. My own take is that it will be selective and the rate of growth will be lower over all, but steady through next year. What counts is the preception though and the preception being spun by the media and the Fed is one for a recovery. The Fed will take a wait and see attitide as we head into next years as they can not been seen to be effecting the election through its policy. The result is the bumpiness you alluded to in the March time frame.