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Strategies & Market Trends : Stochastics -- Ignore unavailable to you. Want to Upgrade?

To: Cathedra who wrote (819)	8/12/1998 5:20:00 PM
From: Wayners	Respond to of 927

I daytraded NSCP twice on Monday. Didn't hold anthing overnite then. Also held NSCP overnite last nite--I was not real comfortable with it. I gambled on higher S&P futures becase of the really bad day yesterday. I knew that the volume on NSCP was lower yesterday than the day before so I knew that buying interest was drying up. That's why I sold at the opening bell at $31 even. I left $0.50 on the table and don't feel bad about it at all. You sound like me again with regards to greed. You did the right thing with SEEK. Never ever feel bad about taking a profit even if its less than what you could have gotten. Remember if you don't take profits, eventually somebody else will take yours. You had NSCP in the bag! Don't get greedy like that. Here's what I do to beat greed. First I say to myself when I get out--I can get back in in two seconds if it shows strength past another resistance level. That's all it takes. I've generally found that failing to take a profit of 3% in a day or more when you have it generally results in wishing you had taken the profit when you first had the chance. I'll have a look at the charts when I get home tonite.

To: Cathedra who wrote (819)	8/12/1998 8:28:00 PM
From: Wayners	Read Replies (2) \| Respond to of 927

CMGI sell signal today. Looks like a return to support level of about $65. Buy any breaks above $90 on high volume. NSCP is a tough call. It closed right at the resistance level of $30. Volatility is probably too high for it to move up significantly from here. Volatility is decreasing. I'd expect it to stay in a range between $30 3/4 and $26 1/2. If it was going to break it had to do it yesterday or today. Didn't happen. Volume is decreasing the last 2 days. LCOS Near the resistance level under $70. I thought it would retest this resistance and it has. Trend was down but has neutralized. Another tough call like NSCP. The probabilities are against a break up to the upside. The way to play it is to sell at the resistance level and be prepared to buy back in a legitimate break above the resistance level. Should be confirmed with some type of positive news event or rumor. Place buy stops above $70 and sell current positions.