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

To: John J H Kim who wrote (4691)	2/24/1998 10:12:00 PM
From: TATRADER	Read Replies (2) \| Respond to of 7396

John J.Kim, Market makers can take a stock down to a lower level on a small number of share sells to give the impression of weakness in a stock, so that they can buy your shares at a lower price and then sell them to the next guy at a higher price...Sometimes they will paint the tape at the end of the day with a few 100 share sells, to make sure the stock closes on a downtick...Since I do not have a daytrading system, I cannot tell you if there were a large number of sells at this lower level, but with the TA equipment i do have, I would say absolutely not...We have accumulation going on, even though they are trying to disguise their ways...If someone has a listing of buy,sells and size on COBR today, please let me know if I am off whack... Further, if a stock goes up 15% in one day, don't you think the pros want to take a few bucks home, and then buy back in when the stock is a tad cheaper... Here is a brief TA on COBR 1. Higher High, Higher Low 2. MACD Histogram 0.021,0.102,0.133(a trend) 3. ADX showing a strong trend developing....21,23,25,28,31 Remember how I told you I like to grab a stock just when the ADX starts to move over 20, and then ride it....This stock fits the bill. 4. Double bottom pattern---5.50 by 7.50...Two days above neckline=breakout...Short-term target of 9.50 5. Stock closed outside envelope at 7.15 6. Stock close about of Bollinger Band at 7.57 7. ADXR on move up, 21,22,23,24 8. Pring KST break of zero line on 2/20/98---Bullish 0.139,0.791,1.254 9. TRIX positive at 0.034,0.117,0.225 I could go on, but I am already sold on this stock and have a position...I will wait for the upmove....Mark