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Technology Stocks : INTEL TRADER -- Ignore unavailable to you. Want to Upgrade?

To: Trading Machine who wrote (5998)	4/20/1999 1:00:00 AM
From: Berney	Read Replies (2) \| Respond to of 11051

TM, What are you complaining about! I'm sure some folks around here took some serious broadsides in the last few days. If the ultimate entry point on PEP had been achieved you would have made a nice profit today. In any case, PEP was up and the 401k is safely in cash; the best of both worlds. I was actually entertained watching the battleground at OEX 660. In the final analysis it was a battle lost with, undoubtedly, a great number of casualties. The daily MA is at 643 and there are multiple support points between 636 and 640. We are still in a bear mode. Trade with the 60-min OEX and use the 15-min as the exit point and you'll benefit from the rebound, whether or not it is a DCB. I'm convinced that the pivot point is yet to be determined. I'm trying to do a detailed analysis of all the Drug Big Boyz, as they represent about 18% of the Big Boyz, and they have gotten absolutely crushed! For the other folks, I've been developing this concept called Pivot Point (in between naps). It really isn't novel or unusual, I just like the name. It just represents that point where a buy or sell target is achieved. For example, I determined the Pivot Point for FNM is $67. It actually closed last Friday at $66 3/16. However, if you had used the pivot point and gone in at $67 1/8, you would have done well today. Equally, AHP had a pivot point of $62.5 and C has a pivot point of $72 3/4. Just look at at the charts for today and you will see that the concept seems to be valid. Note that IMHO you always need an exit strategy if you are going to play this game. Entry Point and Exit Point -- that's what it is all about. Plus, the knowledge that these points are constantly evolving. If you don't have the time or desire to determine them, buy SPY and enjoy life. But, alas, for me it is the game that counts, not the final score, which will always be zero. To me, its just enough to come to the point where I can raise red flags before I see a river of blood, particularly if it might be my own. TB