Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: AlienTech who wrote (8186)	2/9/1999 7:01:00 PM
From: LastShadow	Respond to of 43080

Funds, Stocks, IDTC and LCOS Only 4 of the 75 mutuals are still long, and three of those are the bear funds, and one is another oddball, Dreyfus Emerging Growth (ie, small cap) and it was only up a fraction of a percent. For Stocks, only 18 of the 183 tickers I follow were postive, the best being KMET at 10%, Followed by PETM at 7.4%, EDS and SMMT at 3+%, IIT, TRB, PIR, WPIC, SHRP, THDO and MTIC at 1-2% The average was -4.75% This level of down stocks has almost always been followed by an up day, even in downtrending markets. I will run my usual analysis, but don't expect to find many tickers on the list. IDTC - I actually touched below the trendline today, but if one wants to assume today's low is the new basis for a tendline, then exit if it falls below 15. LCOS...Alien, I was going to tell you to short on another account, but I seem to remember you were the one who posted to me a year ago about how the SEC felt that wasn't legal. I FIRMLY believe that would qualify as a wash sale, ALTHOUGH I HAVE NEVER DONE THAT (you never know who reads these posts). However, given that some may not have multiple accounts with which to do this, there is another way to tell if you should bail at open or not. To wit: If the futures are down, and the preopen sales are downticking in large volume trades, bail at open. If the futures are flat or up, and the preopen sales are down, wait to see where it opens after the preopen orders clear (I would guess about 10 minutes at most). If at that point it is not bottomed and on a rebound, sell. If the preopen sales are up, and the futures are down, I would look to exit as soon as the preopen orders get flushed from the trading blocks - again about 10-15 minutes after opening, assuiming the price levels and does not rise. In all other cases not given above, one would play it as a modified gap but only to determine exit, not entry. If this is confusing, pm or post here. lastshadow