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

To: JK who wrote (4157)	1/27/1998 12:34:00 PM
From: TATRADER	Read Replies (2) \| Respond to of 7396

JK, I am a pattern player...Now Joe Granville, will probably call XYLN as a double bottom....But I am looking at a double top, 25 by 15.00... That gives me a target of 5.00 a share...My entry into this stock was at 15 3/8....The neckline is at 15.00...If this stock moves up to 16.00 a share, I will buy to cover and take my loss keeping it at less than 5%....The neckline at 15.00 is the key, if we break it decisively, I am out...However, it is typical for a pattern stock such as this to come back and test the neckline as it is doing now...With a downside potential of 10, and a loss of 1 point, what do you think I am doing...That is right, I am fastening the seat belt, tightening my goggles and preparing for earnings combat....Regards, Mark