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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Jimbo who wrote (16967)	11/27/1998 2:45:00 AM
From: SkyDart	Respond to of 119973

Jimbo: Great reference books that I like: Dr. Elder's "Trading for a Living" and the New York Financial Institute's "Technical Analysis". But trading success is largely related to emotional control, money management, regardless of how well one analyzes the charts.. Blowoff tops are also known as "Buying Panics" and usually have huge opening gap-ups, extremely high volume, reversal from up to down by the close, and come at the end of a run when EVERYONE is bullish. [See my post # 488 on the MALL thread]. Now, there is considerable worry that MALL is too high [ a contrarian bullish sign], volume at 3 million isn't up to the 10 million extreme, and MALL closed at or near the high 47 1/4 [high was 47 1/2]. So MALL IMO is not yet a "sell". And it makes good sense that with the Merril Lynch and CNBC news coverage, the price will only go higher into the IPO date. However, there is now considerably more potential downside [25 points] than when I bought at 25 [when I estimated the downside to be 8 points]. The upside at this time is perhaps another 15 to 30+ points if we look to ONSL as a comparison. Continued Success and Thanksgiving Cheers, Jeff