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

To: Donna Carey who wrote (597)	11/16/1998 4:39:00 PM
From: Trader J	Respond to of 56535

Donna: You will notice that usually a stock will open very high on a gap and fall back almost immediately. Take EGGS today, it opened at roughly 15 1/4 and not long after, you could buy it at 14 1/4. I waited to see if it would get stronger and lost 1/2 point. I usually allow myself a small margin to lose if I know I am going to stay in the black. It is possible that the MMs will not be able to pull the price back if there is too much strength. Rarely does this happen though. Watch GRIN tomorrow. I will probably dump all 5000 at open and look to reenter with a longer position 20 minutes later. Good luck TJ