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Strategies & Market Trends : Lizard King's Trading Swamp -- Ignore unavailable to you. Want to Upgrade?

To: Paul A who wrote (2958)	11/24/1997 10:27:00 PM
From: TATRADER	Respond to of 7396

Paul, I am ready either way.....I will watch the S and P Futures for market direction on opening....If we are headed down, I will short, but will prepare to cover if she turns midday, and then move into my long picks...I am only in positions now for 1 day, 2 days at tops...This volatility is a trader's dream.... TRADER QUESTION: 1) "Why did you stay short in OSTE, that is an A ranked stock, I thought your data base is filled with D Relative Strength stocks"? OSTE did yesterday what Jeff Cooper calls a Lizard(please Lzzrd don't take offense) It hit a 10 day trading high, and its open and close were in the bottom 25% of its daily range....That tells me that momentum is waning and that traders will be hungry to secure profits...If the overall market turns on me, tomorrow, I will cover at break even....Otherwise, I hope to secure 2 points.... DDIM...."You have been in and out of DDIM, and if I recall you haven't made any money on it yet"....You are correct in your observation.... DDIM is a case of a beautiful Double Top....The neckline is at 22.50...The last time she attacked 22.50, I was watching...She could not hold above it...That meant an opportune time to short.....Yes, I blew it on timing last time, but not this time....Now the question is, we have support at 20.00....If DDIM cannot hold 20.00 on Tuesday, and overall market cooperates, I will cover in the 16.25-16.50 area.....(actually, I won't say exactly where, because the game is to have the jump on other traders...Fun game...) Wow, a potential mouthwatering 5+ points.... I am not overconfident, the market humbles,and does it well....But I will say, I am improving at shorting, and that's my goal right now.... Regards, Mark P.S. These stocks are not my top ten for tomorrow to short, but they have made me money and it looks like downside is still to be drained out of them: 1. SFAM 2. SGI 3. SCOP 4. ECILF 5. PENN 6. FLEXF(high risk if overall market is up....In fact, will take you to cleaners...Potential downside is too 36.35)