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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Tim Luke who wrote (2323)	12/3/1998 6:01:00 PM
From: STEVE	Read Replies (2) \| Respond to of 90042

Does anyone have an opinion on Service Merchandise (SME]?? Huge volume, 15 million shares, on lots of rumors. People I know who work closely with them had already thought they were undervalued and a good play prior to this frenzy.

To: Tim Luke who wrote (2323)	12/3/1998 6:09:00 PM
From: Don Pueblo	Respond to of 90042

I took a look at the daily bar charts for the COMP and the DOW after the market closed, paying particular attention to what happened after the first top, and comparing it to the recent top. Take a look at it, it seems to be self explanatory. Look at the days after each top that opened at the high and closed at or near the low. Your strategy for tomorrow makes sense. I was able to get 1000 shares of EGGS to short this morning, and rode the moves all day long. It worked very, very well.

To: Tim Luke who wrote (2323)	12/3/1998 6:17:00 PM
From: BC	Read Replies (2) \| Respond to of 90042

I bought 1k of cnkt yesterday at 4 1/2 and I thought I sold at 6 1/8 what I did was bought 1k more thinking I sold. I decided to buy back I got filled at 5 7/8. I realized it was going in the wrong direction so I thought I would sell and take a loss. I was very surprised when I went to put a sell in and found out that I had 3000 shares. I called E*trade to make sure it wasn't a mistake and when I finally got a person 30 minutes later it was down quite a bit.I decided to sell 1500 and hold 1500 overnight because I didnt want to sell at 4 1/2. I was hoping it would go higher this morning. I ended up selling at 2 21/32. I also bought eggs today and lost $1500 when I went to pick up my kids at school. I learned a expensive lesson today.