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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: Jay Lyons who wrote (5669)	1/7/1999 5:26:00 PM
From: Poet	Respond to of 43080

Jay, I'm a girl and no chartist. I took a look at GNET today and saw that it had spend a fair amount of time hanging around 51 1/2 before the morning spike. I do a lot of lunchtime buys (at 1:00 to 1:30 when a lot of stocks seem to dip). GNET took out my 51 1/2 and quickly went to 50. I knew it's a volatile one, and that round numbers are hurdles for stocks, so I placed a buy order down below 50, at 49 3/4. I was lucky to get filled, as that was near the low for that dip. Poet(ess)

To: Jay Lyons who wrote (5669)	1/7/1999 6:25:00 PM
From: Thomas Sterner	Read Replies (1) \| Respond to of 43080

<< Does anyone regularly "double-up" on their winners?>> Never! I don't double down either. That one stock that is winning (or losing for that matter) is not the only stock. I prefer diversification even if that means not gaining by doubling up. Having said that, I also recognize that I do give up greater gains from time to time but I just am not comfortable doubling up or down. But, this is an individual decision. By putting AAPL under your pillow, I hope it doesn't decide to sleep-walk :) Tom

To: Jay Lyons who wrote (5669)	1/7/1999 7:37:00 PM
From: Susan Saline	Read Replies (1) \| Respond to of 43080

update KNIC hype mex p & d of yesterday made a high yesterday, Wednesday of 1.50 today, Thursday closed down at 15/16 - 1/4 .... -21% the NAZ closed up 5 hmmmm so, for those of you who want a good short .... just look for the mex pick of the day sue

To: Jay Lyons who wrote (5669)	1/7/1999 8:07:00 PM
From: tom pope	Read Replies (1) \| Respond to of 43080

Warning - another long and boring post Hello, Jay When I was a young and callow lad and played the futures markets until my tax guy told me that the up one year, down next year pattern was making him seasick, I did double up. After all, I'd read about the guy who kept on doubling his gold position during the great 1979-80 runup until he was getting visits from the Comex people asking him to stop. If I remember correctly he took a tiny stake to $90MM and still escaped with about $30MM when the music stopped. The usual result with me, though, was that when the inevitable downdraft came I'd lose more than I'd made in the runup, even if the correction was a minor one. So my answer is - no, I almost never double up. I will double down, however. The reason I do - not always, sometimes - is that when my stock craters, there usually is a point where it stabilizes and moves up. The trick here is to take advantage of the momentary rise and sell a doubled position. It won't turn a losing trade into a gain, but it will cut your loss. BTW, this takes a lot of discipline, which I often lack. But I think it is a fact that you do get bounces in downdrafts, and if you can force yourself to go against the grain and sell into the rebound, it is an effective way to cut losses. Your take home selection is interesting - I also took home AAPL, ADPT and IOM (the latter from yesterday). Unfortunately I sold DBCC at 19 1/2 and it looks like it might gap tomorrow. I also took CIEN home because nobody wanted to bail me out at 15 3/4 at the close, darn it.

To: Jay Lyons who wrote (5669)	1/7/1999 8:54:00 PM
From: Dave Shares	Respond to of 43080

Double Ups and Downs I rarely double up, but when a stock is running strong and has pulled back but looks to continue, I may do that. In the case of DBCC as I explained before, I may want to try to trade one position and hold one position. But I should trade less and hold more, or better put, I should trade the position and move on, because I'm not good enough to trade stocks more than once. Doubling on a losing long position usually doesn't work for me, is a bad idea, and maybe I'll not do it any more and finally learn my lesson. Good luck on your holds, and if you all want to buy more DBCC at the open tomorrow, go right ahead ! David

To: Jay Lyons who wrote (5669)	1/7/1999 9:21:00 PM
From: dealmakr	Read Replies (1) \| Respond to of 43080

Jay, If the market proves your trade correct and your direction, averaging up can be a valuable way IMHO to make additional gains. Averaging down I have found to be a good way to keep money dead for a while. It all depends on the stock and if you average down it usually will be for investment purposes as compared to trading. If I am averaging up, my sell price can differ for each buyin as a profit level or trading objective is met. Both plays have their own benefits and risks. Just my .02 Good Trading Dave

To: Jay Lyons who wrote (5669)	1/7/1999 10:31:00 PM
From: Buzzy	Respond to of 43080

Jay, < Does anyone regularly "double-up" on their winners? > Yup, but under 2 conditions 1) Not in the same day 2) Not when the stock has good news I once bought 1000 shares or a stock at 6 1/2, a month later it's 11 and the good news came, bought 1000 more at 11, the top of course, should have sold on the news, remember buy the rumor, sell the news. I wish I could have got 6 1/2 for all of it when I sold. On the other side, buying more when they drop, only on another day if the stock still looks technically sound, and it may have went down for another reason, say the whole market tanked. Now that I'm more position trading and holding { 1-4 weeks } I'm buying more 300-500 share positions, so as to buy more if I'm a little early on the breakout.I've been following Gary Smith from thestreet.com, his strategy is to buy after the breakout.I think there's a happy medium there, between buying during consolidation and buying after the breakout. Buzzy