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

To: bid for size who wrote (3725)	1/7/1998 9:59:00 PM
From: TATRADER	Respond to of 7396

bid for size...MOT is in a descending triangle formation with the apex sitting at the 60.00 level...If you measure the height, it is 30.00 dollars, now that is scary...Subtract 60 from 30, you get a long term target in a bear market of $30.00 a share....Right now I have 40 Head and Shoulders Patterns on my initial watch list, and am trying to decide which ones have the greatest percentage of profit...I'll tell you, as a trader, when I am looking at 8-12 point profits on a position, it starts to make me a bit edgy.... Example: One of my open positions is INTS...I am in near neckline at 15.00...There is a 10.00 differential between the Head and the neckline, giving me a target of 5.00 a share...Now that is close to 10 points, multiply by 500 shares, and you have 5000.00 on a single position......Now mind you, I know how the market can humble you, it has done a good job of that on me over the years, but the profit potential for a short trader if we have a bear market will be astronomical....Best regards to you on MOT....I just have a part of me that feels unamerican if I short a Motorola, just can't do it.... Regards, Mark P.S. My LSCC and PSCX picks that I submitted to this thread yesterday really got hit to the downside today....