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

To: Dave Shares who wrote (882)	10/5/1998 5:30:00 PM
From: Dave Shares	Read Replies (3) \| Respond to of 43080

Trading Lessons 1) Entered LCOS before the rally and before it stabilized. Set a very tight stop. Too tight. Stopped out and missed the rally. 2) Shorted PRXL for 1 1/2 points intraday. I put a buy stop in to protect profits, and the stop was filled before the stock tanked another point. Are Market Makers as inclined to run a buy stop set for a cover as they are to run a sell stop ??? I am very new to shorting, so I don't know. I sort of would have liked to hold the position, because the chart really looks crappy now and I think there is more downside, but on the other hand, I still don't have the guts to keep a short position open overnight if I can avoid it. With my luck, they'll warn in the morning. 3) Watched for a reversal in RNWK intraday, but never set a buy stop for entry. would have been good for a point intraday. Oops. 4) Watched TLAB go south, and then was too chicken to jump on, made a nice move from its bottom (guess you can say that about a lot of stocks today). I saw how the European markets all rallied from their lows, and maybe that should have been a cue that Wall Street would rally also later in the day. I seem to have noticed that bad days in Europe that end in rallies tend to lead to the same behavior in the U.S. Just my opinions and rambling thoughts, David

To: Dave Shares who wrote (882)	10/5/1998 10:02:00 PM
From: Dave Shares	Read Replies (1) \| Respond to of 43080

Watch List Results 10/5 Ticker Close Change % HRL 28.875 0.562 1.987 NCR 28.938 -0.062 -0.216 RPC 19.438 -0.312 -1.582 SVTG 7.188 0.562 8.491 VCELA 21.312 1.438 7.233 VCELA benefitted from a merger announcement with AT&T. It will now have limited upside and the price will be dependent on the price of AT&T. The rest still seem to merit keeping on the watch list. RPC looks most likely to correct down or stall. I have no tickers to add to the watch list. Position Portfolio: I am still holding WFMI, and will set a stop at 39.25 for Tuesday, to limit any loss to 4 points. David