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Strategies & Market Trends : KEEP IT SIMPLE TRADING -- Ignore unavailable to you. Want to Upgrade?

To: mistermj who wrote (173)	2/19/2004 1:37:07 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 321

Re your RKH short - not knowing what trading or analysis methodology you are using, its difficult to comment on your trade specifically. I can say what I would be doing. I would not as yet be in a short trade. If anything, if my expectation of the general market was "up", I would be long right now. (My general expectation is guardedly down however). Why not in, yet? RKH daily chart over the past month. Up until yesterday, it had not made a new high (frist set on Jan 28). Today, it has made a marginal new high. If I were to short this, I'd be waiting for a close below today's bar. The marginal new high is an important component of the short set up. If price does move down tomorrow, below today's low, then sellers will have clearly taken control. At the moment, its just a hope and a prayer that they will take control... and I'm not into hoping! ps, an exit stop must be a component of any trade if you are going to issue "calls", IMO.