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

To: Mark who wrote (4299)	2/2/1998 9:28:00 PM
From: TATRADER	Respond to of 7396

Spinning Tops, I bookmarked your post on industry indexes...Thank you...I got out at the open today, with some pretty good bruises... CLST at break even(thanks to tip by Robet) NVLS at 3 1/2 points loss AMAT at 3 points loss ORG at 2 points profit....(covered this one at end of day) Whenever this happens to me, I stop trading for 3 days to analyze mistakes, with the resolve to improve... As I look at it, I entered 2 positions above because of the recommendation of a friend(NVLS and AMAT), who was calling the market to tank during late January and early February....BAD MISTAKE..... I have a lot of respect for this person, but it goes against my own trading philosophy, be independent, your own person, follow no one... My own analysis of NVLS has a 80 by 30 pattern....Technically, I should have only entered NVLS when it broke 30.....On AMAT, the pattern was 55 by 25.... Still sitting short with ATLI,CREE,BFIT,IMCC,JMED,INTS,HMTT,MCRL, and VTSS.....All survived the 200 point onslaught today quite well, except VTSS, which I will watch closely tomorrow..... Short WATCH List 1. THQI 2. TWMC 3. TWA 4. JAII 5. SCAI 6. CDRD 7. SUNW 8. MRLL 9. KELL 10.AZZ