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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey L. Henken who wrote (161)	11/4/1998 10:02:00 PM
From: Trader J	Read Replies (2) \| Respond to of 56535

Jeff, GHV: Looks like all the bad news is out on this. Even another downgrade isn't going to hurt that much. Looks to get support at 11 or so. I think you can ride this a short bit, volume will be your friend. I would start losing interest as soon as the volume dips below a 2 to 1 ratio...which is in the neighborhood of 500K. Isn't a high flyer so when volume is lost, it will fall by the way side to lanquish with all the other "disappointed" earnings casualties. I would be willing to put a 1/2 point stop on this knowing that you could hit in on open tomorrow. Watch it carefully, you may have decision to make at about 7:00 AM. If you coast through that and you haven't hit your stop, appears that it will be ok for another push higher. Never be afraid to pull profits off the table. But after you do, follow it for a few days to see what you can learn, maybe reentry, maybe smart....either way, always something to learn. Jeff