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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: rogermci® who wrote (15244)	5/3/2004 10:43:17 AM
From: Michael Watkins	Respond to of 207323

No problem roger. I know luck can work as well as any other "system". I once did a study with totally random entries and simply applied decent money management methodology to the "trades" and it tested surprisingly well. I agree with you on the over-reaching bearishness. I figured if nothing blew up over the weekend (figuratively and literally) the market would probably bounce. Just not willing to bet on that myself these days - not with futures anyway given how leveraged they are. I only carry home futures trades that are well in the money at days end. But congrats on having both luck and intestinal fortitude to carry that one off.

To: rogermci® who wrote (15244)	5/3/2004 10:46:23 AM
From: Kirk ©	Read Replies (1) \| Respond to of 207323

Buying some X here at 27.50 (200 DMA) for a trade. Stock off 33% in 3 weeks. You'd think they were going out of business. X depends on China growing faster than the market can supply steel.... China is raising rates... to slow growth... you have to gamble they do better than Greenspan did in 2000 to slow the economy and not pitch it into a recession. We sure don't need much steel here in the Silicon Valley as there are still plently of empty buildings. Looks like a falling knife to me with no natural resistance until 21 stockcharts.com and that chart shows a target of $16. Natural question for me is "why $27 vs not buying earlier at $30 or waiting for minor resistance at $24???" stockcharts.com[l,a]daclyyay[d20000601,20041231][df][pa24!a16!f][vc60][iUb14!Lc20]&pref=G RSI does say it is prime for a bounce...soon, but it has been lower at all other recent bottoms.... I'd wait for CFM to be on my side....with a turn to the green.... as well as an RSI turn... BWDIK? Just my two cents worth. -g- Kirk