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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: LastShadow who wrote (10547)	6/23/1998 10:49:00 PM
From: LastShadow	Read Replies (1) \| Respond to of 120523

Position Trading Account Entered PNF at 2.875 Holding SMMT Will enter PIR tomorrow, however... I am not satisfied that the 'at open, at market' method is getting us the best reasonable price. What I will do is set a limit entry for 20.75 for PIR. I expect some correction to occur, and this would be about 5.5% below the close today. I will reassess it at open and on and off during the morning to see if it looks like it will drop below that limit. I will actually buy it intraday using my normal strategy, but since this account is geared for end-of-day or only-occassional intraday log-ons, I am not sure what the best way is to handle this. If the stock doesn't drop or climb, but levels as SMMT did, then we should still be able to enter Thursday reasonably well. I hope this is ok for everyone. The downside risk is, of course, if tomorrow's trading for PIR continues on up regardless of market forces. The best way to counter this is to place a limit buy at 22.5 and catch it on the way up. This isn't suggested for novice traders, as a profit taking selloff could drop it back to 20.50. The other alternative is to use a modified Gap strategy which say to buy at 75% of the difference between the high and the open - so it it opens at 22, jupmps to 23 and settles back (regardless what the low is), one would set a buy stop at 22.75 lastshadow