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

To: xamir who wrote (2130)	11/5/1998 8:33:00 AM
From: Tom Latham	Read Replies (1) \| Respond to of 43080

Shadow Board, Tim L., & Susan S. Pardon me for the almost smug reply to TIM yesterday. I didn't realize when I wrote the reply to Susan which Tim was referring to that I had backed into you good folks board. Realizing now that your board does not dwell in the scalping plays I took Tim's note wrong and do not want to be considered as a horse's butt so please excuse my blunder. Good tradin' ....... TL

To: xamir who wrote (2130)	11/5/1998 8:50:00 AM
From: Jay Lyons	Read Replies (3) \| Respond to of 43080

Downgrade Strategy (4) Symbol Close Open Low High PLAB 20 9/16 16 7/8 16 7/8 18 1/4 DURA 12 3/8 9 3/4 9 3/4 10 15/16 BSX 46 3/8 40 1/4 40 1/4 43 1/2 APPB 19 11/16 17 3/4 17 11/16 18 1/2 APPB 19 11/16 17 3/4 17 11/16 18 1/2 CEXP 11 1/16 7 9/16 6 11/16 7 5/16 ORTL 12 3/4 11 3/16 9 13/16 11 1/8 I'm still seeing the same pattern..the strategy may be tradable if we get a hard gap down. HRMN, HMN, CNA were also on BRIEFING...they didn't Gap and only CNA would have been playable. These three stocks did not have much volume either which makes me think we are looking for stocks with institutional ownership...managers looking to add to their position at sale prices. When I played WEN last week, I was amazed at the size of the blocks going through. In addition to the gap down, look at the first group of stocks. They open down hard, but they don't keep falling after the open. They stall and then start up. FHCC off of yesterday's list was the same. This might be the key to look for. If the open is the bottom, then we don't have to guess where the reverse is. So... 1. Hard Gap down 2. No further drop 3. Large volume Bear in mind that the market is in a buying frenzy. It was just three months ago that TOM beat expectations and the next day it was flushed down the toilet. Yesterday it beats and heads for the moon. Probably by the time I get comfortable with this, the market will have changed and it will all be for nothing. Jay