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

To: TATRADER who wrote (5419)	3/25/1998 12:11:00 PM
From: shasta23	Read Replies (1) \| Respond to of 7396

HI MARK! I always start my posts to you with a thank you note for sharing picks and knowledge. Great learning material and still unbelievable how you do it timewise. Was wondering if you could tell me something about selling. I bot MGXI at 11 1/8 a few days ago (thanks LIZ for the tip) and was traveling til last nite and like you know it's up almost 20% in a few days.That's a quick rise and i always don't know what to do if a stock rises that quickly. Do you take profits although my short term indicators (stochrsi(8,5) or macd(5,35,8)are high but without clear exit signal or do you let it pull back a little to see if it goes to your target of 15 (like you said: ascending triangle from 8-11.5 makes target of 15) or until indicators give sell signal like 3 day pullback of MACD which might give all of the gains?? Feeling says: take profit, but mind says: trust system because feeling can be wrong...any comment about this would be appreciated. Stefan P.S. Have same problem with SESI which i bot at 8 1/8...

To: TATRADER who wrote (5419)	3/25/1998 6:08:00 PM
From: LzzrdKing	Read Replies (4) \| Respond to of 7396

Mark, I am in FL now trading with Jim DePorre a/k/a Rev Shark. We were talking this morning about the market, and I mentioned that I thought we were going to have a key reversal after the gap up. That scenario played out well, but imo if this is the best the bears can do, we have a long ways to go on this leg up. When the futures started to tank during the first sell program, I started to lighten up by taking a few profits. But I was scooping up stocks that were showing signs of panic selling also. Near the end of the day, however, it was obvious to me that there is a lot of steam left in this market, as the techs were very strong, and the dow recovered nearly 80 points off the low. Just as as mentioned to you before, but to the opposite side, I suggest to you to find strong stocks and stay long, rather than market time and go to cash. There are many stocks acting very strong, and I don't think there is a need to go to cash. On the other hand, I would not recommend huge margin positions either, but I think there are good money making opportunities in this market, if you can find good sectors and good stocks in those sectors.