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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: TATRADER who wrote (1899)	7/28/1998 1:03:00 AM
From: shasta23	Respond to of 59879

HI MARK! Wish i had kept TRBDF! Great call entering at 14 3/4, i can't believe it! Was distracted somehow today and did some bad calls: bot TMBS way to high but i think it will come back(already did in the end and it's a nice canslim stock) and bot AINN at 8 5/8. That looked great most of the day but closed very weak right at 8 3/8 (the low of the day)which you wouldn't like either. I looked yesterday at the chart and thought that 8 5/8 was a good entry at the 150WMA.When it reached that level i bought according to plan. I have to admit that i didn't really study the behavior of the stock at that point and just believed that the stock will find a bottom here like it did in the past. I was thinking of keeping it as a position trade. It then went to 8 3/4 with two 5000 blocks which made me confident that everything was going according to plan. But then i had to leave and was shocked to see it that low when i came back. That the stock closed one 1/4 under entry is tolerable but when i look at the chart today then i'm getting worried: -RSI broke under support of the last pullbacks to the 150WMA(~100SMA)and is as low as it was when the stock pulled back to the 200SMA in late dec97.Would you see that as a big negative? -MACD doesn't look good but i only looked at the pullback price level disregarding the looks of the MACD. I thought you can't have a quick pullback to 150WMA and a strong MACD(5,35,8)... I have some comfort in the fact that the stock has good support in the area 8-8 1/8. Any ideas about this stock? Sorry for rambling but i felt a little confused by so many calls that didn't work well today. BTW interesting fact that although the Dow was up more than 90 points decliners outnumbered advancers more than 2:1 and even worse on the NAZ. The Russell 2000 was again down. Just a small tidbit i can contribute which should make longs careful. Stefan