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

To: Poet who wrote (3488)	1/7/1999 4:50:00 PM
From: Canuck Dave	Respond to of 56535

I had a great day. NPL keeps chugging along, up another 1/2, T.ATY showed signs of starting another run, and ASCT had a simply maaaahvelous close. ASCT is only a rumour of a rumour of a rumour, but hey, I'm in the green and it's looking up at this point. CD

To: Poet who wrote (3488)	1/7/1999 4:55:00 PM
From: Tony B	Read Replies (2) \| Respond to of 56535

Poet - trading style. I find myself having luck with position trades and sitting on them for a week or so. With my short term trades, I always seem to jump the gun or buy too late. Other than position trades, I'll stick to CNBC plays (preferably, Power Lunch plays) and watch this thread for other interesting possibilities. I think it's the long-term holder in me, but I find myself more comfortable sitting thru downturns than selling into them. Kinda crazy, I know, but I try not to stress myself out too much over this... llater, Tony B

To: Poet who wrote (3488)	1/7/1999 5:29:00 PM
From: Trader J	Respond to of 56535

Poet: To tell you the truth my strategy changes depending on the market conditions and the price action of the issue in play. I have been much more cautious about playing gaps now as gap plays have changed drastically recently. I judge the issue based on strength, recent hype and near close activity. If it is an Inet stock, unless their is a strong indication that it will gap, I sell now and lock the profit. I need to be much more patient with issues that are not moving and just sitting there, not necessarily issues going down but stagnant issues...such as ENPT. I held that for a week and avg. down a bit when it found support for a couple of days I sold into the first day of strength, it has gone up every day since. I almost always sell AM gaps into the strength and look to reenter depending on the issue and sector. I also play market direction and psychology like DBCC today. Picked it up when it found support at 16 1/2 allowed it to run, and pull back just a bit while monitoring the NAS, and then sold on the next run when it topped and the NAS started accelerating to the downside. Then as the NAS dropped 13.00 and DBCC was still at 18 7/8, big sign of support, I picked it up for what I hoped would be a strong close. But I say hope, because I played it technically and had a stop at 18 3/8. Turned out to be a good play and I am holding it for tomorrow gap.....I hope. Basically, I try to play the action vs. my goal with a trade. I let the price action tell me when the run is done or starting. It is not fool proof but how many times have I let my goal be the determining factor when the action said sell. TJ

To: Poet who wrote (3488)	1/7/1999 5:35:00 PM
From: Vicrobi	Read Replies (1) \| Respond to of 56535

Poet...I just follow Jeff...LOL

To: Poet who wrote (3488)	1/7/1999 7:50:00 PM
From: Len	Respond to of 56535

Poet: I enter a trade thinking it will be a very short term situation. But, I try to buy stocks with good fundamentals. If it runs, I end up holding for a while. If it falls I have already estimated the downside risk. So far so good. My only loss since joining this thread is ENPT--- and I should have held for one more day. I am still holding CELG, NAVR, SATH, and ASCT. I tried to get into DBCC today but got sidetracked by my real job. By the time I got back it had run up to 19 7/8 or so. It's a real drag having to make a living. I'll ytry tomorrow. Regards. Len