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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: melinda abplanalp who wrote (1746)	1/8/1999 11:21:00 AM
From: Rande Is	Read Replies (2) \| Respond to of 57584

To all: Try to remember that you need to set TIME targets and not just price targets. PRFM will still not "mature" until near the end of the month. Pulling some dough out to trade it in some faster moving stocks....you may miss some important price gains. Gotta set a "LONG-TERM" date target. . .like end of Jan or Valentine's day. Only those set up for daytrading should get involved in such. . . I am not. When I try daytrading without proper equipment, I lose. We are not momentum trading here. If anything, it is a form of LONG term trading. . . timing the stock or sector for low entry and high exit. When I leave my swing trade plan on a stock with a near-term event pending, because I am bored with lack of movement....I miss a gap up or a morning or late aftn run, then feel obliged to CHASE the price. Chasing the price totally negates the principal we have established here. Stock up at the lows, increase on the dips, decrease at the highs, decrease on news, increase when volume drops, buy when NOBODY wants, sell when it is all the rage. Any variation of this will lead to diminishing returns under this program. If you wish to ALSO daytrade, then by all means get level II, REAL TIME wire service, and daytrade...if you don't have the fastest equipment and executions, you will be eaten alive. Many runs last 45 seconds and are over. This is a LAID BACK method for high gains. And like any method requires a measure of discipline. On PRFM, I won't be selling at 4 1/4 for fear of blinking my eyes and seeing 5 1/8 on the ask. I am planning on some happy selling...not at a price target...but at two events/dates in the future. We bought the rumor...now we are awaiting the news. Rande Is Rande Is