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

To: Nicole Bourgault who wrote (13351)	4/27/1999 12:46:00 AM
From: Trader J	Read Replies (2) \| Respond to of 56535

Nicole: Much money is lost when trying to find the bottom of a correction. There is no great way to foretell when the "end" has come. The best tactic is to use a lot of patience and keep a close stop on your issue. If you have to lose 1/4 point 3 times in order to find the bottom and make 5 points, then so be it. But never try to pick the bottom, enter the position, and then watch your issue fall 2, 3, or 5 points ..... then you have forced yourself to get 5 points just to break even. I have found that the best rebound stocks are those that were the recent high flyers. I especially like the issues that have been forgotten in a dramatic drop. Most recently, when the NAS fell 138 points, many stocks dropped nearly double digits and have only come back 1 or two points. Some of these are: PLCM IATV AWEB MMPT (although it has come back a decent amount now) SEEK - Has been a laggard here as well. Always keep an eye on the big movers even if you don't plan to trade them. You never know when they are going to fall from grace and become a good value. Most big movers will have 2-3 good runs. Tj