Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Nazbuster who wrote (621)	9/24/1998 12:40:00 PM
From: Jay Lyons	Read Replies (1) \| Respond to of 43080

Daniel- I was as surprised as you about Mondays recovery, if I hadn't been I would have taken my money out of my Ultra Bear account at Friday's close. Three things can happen when a stock hits the Gap Triggers. It can bounce off it, it can break thru it, or it can whipsaw back and forth. Last Friday was a frustrating example of the latter for me. Monday was an example of the former. My first trade Monday was NB, and I took it before the first hour was quite over, because CCI had already bounced way off its lows and NB hadn't followed. The trade worked. I got whipsawed in PFE once before it started up, and I was back on board. The other three trades followed in the same direction. I wasn't trading against the market, I was trading the market as those stocks that I was watching reacted to their resistence/support points. Look at PFE on a five minute chart today. It whipped back and forth thru that 104 7/8 point like an EKG reading until it finally broke thru 105...then it's off to the races. You don't know ahead of time that it's going to do that, you just know that it's going to do something, and around 104 7/8 is where it's going to do it. Hope this helps. Jay