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Technology Stocks : IMRS racking up y2k contracts. -- Ignore unavailable to you. Want to Upgrade?

To: paul e thomas who wrote (1893)	12/21/1997 6:37:00 PM
From: jgibbs	Respond to of 3162

Paul, I occasionally will buy or sell when the spread narrows in a fast market where the sector seems to be moving together and the market is tanking or soaring. Such seemed to be the case Friday when the asked on IMRS dropped, narrowing the spread to a quarter, most y2k stocks were losing ground and the overall market was tanking. I sold 500 at 27 1/2, watched the stock sell off to around 26 3/4 bid (I think) and then go right back up to 27 5/8 bid. I really was surprized, since I was quite sure I could scap up at least a point or more. However, after seeing the resilence of the sector as the market dropped, I bought it back at 28, losing 1/2 for my troubles plus 60 bucks comish roundtrip. I check the TA regularly but must admit I am still a babe in the woods. However, I have used the 20 and 50 day MA to good advantage with the y2k stocks I follow. When the 20 penetrates the 50 to the upside or downside so that it shows on a chart, it has been a pretty good predicator of the direction of the next move which may be long or short-term. Though I know this approach has its pitfalls and with research better MA's as predictors can be found, it has worked well enough for me in CBSL, MAST, KEA, IMRS and a few others to keep my account in the plus column. In this regard, the 20 and 50 day MA seemed locked together on the IMRS chart. As soon as I see a break (it looks like it will be to the upside) I will buy some more, probably options, since IMRS and the whole sector seem to be very strong in an otherwise awful market.

To: paul e thomas who wrote (1893)	12/22/1997 8:43:00 AM
From: Leo	Read Replies (1) \| Respond to of 3162

Paul- Would you please educate me with the definition of RSI, Stochastics,& Momentum? Very much appreciated, Lee

To: paul e thomas who wrote (1893)	12/22/1997 11:21:00 AM
From: paul e thomas	Read Replies (2) \| Respond to of 3162

PAID PRICE FOR NOT WATCHING CHARTS After preaching about watching charts I sold 1400 shares @ 30 3/16 without looking. I had been following on phone nearly every trade and watched price run up to an ask of 31 1/2. If I had been watching charts I would have seen on a 5 minute chart the stock was significantly overbought on basis both of RSI ans stochastics charts. I used my intuition instead when spread narrowed to 1/16. BY the time I got my market in bid dropped to 30 1/8. MY market order filled in 2 parts.Now I have to wait until market drops again from oversold condition.