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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (19389)	2/9/1999 9:47:00 PM
From: dennis michael patterson	Respond to of 42787

Chris, I had forgotten. Thanks for the reminder.

To: Chris who wrote (19389)	2/11/1999 12:21:00 PM
From: Robert Graham	Respond to of 42787

What is your read on AMAT? I do not like the price action after the breakout. IMO there is money moving out ever since the breakout. I have not looked at the tape to confirm. I see technical divergences setting in which also have been in place on the longer term charts. CSCO had been showing a prominent distribution price pattern, so I am not surprised it was ready to take a nose-dive. DELL was a good short momentum trade for some quick money as the stock was topping out. Hope you and everyone else got out in time. As you know, when they top, stocks with this type of price action can "hit the dirt". Still it is a god sign that DELL is so far holding above its 20 day EMA. Lets see if it will bounce. I have been reading a book by Joe Ross called "Electronic Trading TNT 1 - Gorilla Trading Stuff". It may be hard to believe with a title like this, but Joe Ross is very well respected by many professional traders. Even though some of his setups can be impossible to trade in real life, they go to his seminars for new ideas. I am finding this book worthwhile, but very poorly written, ambiguous at times, and incomplete. I suppose that is why he refers to his other books in the series and his telephone consultation fee of something like over $700 per hour. IMO this book is not worth the $100 I paid for it. But it does provide some unique information like the trading of matching congestions on the intraday chart backed by his setups that appears on the daily chart. I am finding the specific type of price action demonstrated in the book difficult to find in real-life so far, but some of his concepts appear to be worthwhile. My use of this information would be to fine-tune daily setups that give me entry and exit signals. I am not interested in daytrading and will never pursue this approach to trading. Bob Graham