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

To: NhotH20 who wrote (5132)	3/14/1998 4:23:00 PM
From: TATRADER	Read Replies (1) \| Respond to of 7396

NH20, you have not retired...Great...Lizard was planning a party for you in his Beverly Hills home next Friday....Featured speaker and toastmaster was to be Jeff Cooper..But it looks like you have done a 180 and foregone retirement plans...Hope you will be willing to pop in now and then with your great picks..BTW, when you do retire, do you suppose you could put me in your will that I get your trading strategies booklet....Or at least invite me to the dinner(would enjoy free cigar and meal), so I can get as much info out of you as possible... TRADER RULE: FOLLOW YOUR DISCIPLINES, DON'T VACILLATE... I did that this week...I entered NINE at 3.62....50% retracement from high, and Gann Retracement put entry in the 3.25-3.38 area...But do you think, Mark follows his rules...Boy, Hit me, will you...I was on an unbelievable run, and then I let my emotions get me, thinking that I can beat the system...Still, I feel we have about 2-3 more days of mulling where we are, and then will experience the same sort of spike that SIII made, with continued volume expansion and price action until the announcement...(whatever that is!!!) Ok...BBTK First the good news, then the bad news... The stock did make a nice breakout on triple the average volume.. 20 day volume=123,315 10 day volume=123,270 5 day volume=187,180 3 day volume=267,866 Stochastic is still not overheated so we have more room on the upside...MACD Histogram did a 0 line crossover... Now the bad news....You have a lot of overhead in the 8.00-8.25 area...I don't want to give you the figure that I came up with, it would depress you...Let's just say, present volume levels will have to continue for several days to take it out.. The Relative Strength peak this time is 72.825 Last time the stock reached these levels RS was at 80.07 Same story with Momentum Peaks This time Momentum peak at 124 Last time Momentum peak at 172 That tells me you do not have as much strength on the attack as the last time...Not a good sign...Bollinger Band pegs the trading range from 6.22-8.25....Smoothed Price Rate of change is also losing momentum... My take is that this stock makes an attempt to take out 8.25 and fails...I would bail on any price strength and move on to another stock....Now as always, I could be wrong......But as you know, I am attempting to become a very good trader, and that means I need to be right more than I am wrong... Regards, Mark P.S. Will look at your picks late Sunday night...Have a birthday party celebration for my 80 year old mother-in-law...Important I be there...