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

To: ArtAlley who wrote (7006)	1/30/1999 7:08:00 PM
From: Maarten Z	Respond to of 56535

To all PRFM Longs: Strange to see the anxiety in some of the posts I'm reading. Wed, Thurs. Fri AM everyone was in good spirits and now? What has changed? Nothing really. Everything moving quite fine until around 1:00 PM EST when volume just dried up no buyers at 13 1/2. So very vulnerable to a drop. MMs going to lower ASK to bring in buyers And shorts are going to starting moving in. People like Anthony watch for issues like this and look for weakness at 1:00 pm he spotted it. That changed the whole dynamics of the afternoon. I expected it to trend neutral or even slightly down toward close. So wasnt to suprised to see a significant down turn as more shorts piled in. But that doesnot change the final outlook which is a price spike Monday AM based on PRs for web site. If CNBC kicks then that will help as well. And isnt that what everyone with a long position was bargaining on in the first place. So no worries here. Just a normal trading day. Monday should be good. I would only give one piece of advice and that is to be attentive. Highs could be set early and then a sharp sell off. People locking in profits and shorts in play. The first sell off is important to watch and see where the support or resistance points are. This could easily have another run again. But if this second run doesnt break thru the first high then I would sell (maybe not all but up to 50%) 50% perhaps to see if the close is strong for a gap up on Tuesday. Of course everyone should do what they feel comfortable with. Good Luck to all. MZ