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

To: Trader J who wrote (2230)	12/17/1998 12:10:00 AM
From: Trader J	Read Replies (1) \| Respond to of 56535

Gaps: Please be very careful about playing gaps now days. The markets and MMs have changed for the most part. As mentioned a few days ago, an item mentioned by a very good source at my broker turned out to be very prophetic. He mentioned that many of the MMs are losing their shirts to these fast moving Inet stocks and crazy gaps, only then to have buyers switch gears and stocks leaving the MMs with a load of shares at a fraction of the original investment. He told me that they are losing 10s of millions and that things were about to change. I think we are seeing this now in all but the strongest gap plays. For example, NAVR of late, SHRP this AM, ASTM from a few days ago and I could mention more. I highly suggest if you are truly day trading that you get rid of the gap greed that you may cling to in hopes of bringing down the big kill, and sell before close. The only exceptions to the rule are with higher float, not as quickly moving large issues. SEEK is still a good gap play as are many of the other huge Inets .... in essence they are always in play one way or the other, there will always be a market for them. Just a word of caution is all. This last week has been a difficult one as the markets and individual stocks have been very tough to call for all but those that can enter/exit in seconds. Please be very careful out there. Trade well. TJ