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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: keith massey who wrote (11863)	5/7/1999 10:10:00 PM
From: StockPro	Read Replies (3) \| Respond to of 62348

Keith, It would look like LTV has already been in the dumper since the beginning of the year and is currently near it's 52 week low of $22.25. I am looking at a 5 year chart looking for support levels, and I'm not sure if I see anything. Would appreciate your opinion and comments on how you plan to play it, if you're willing to share that is, if not I understand. My rookie guess at support levels would be the 52 week low, then the $17.50-18.00 level, followed by $10. Comments appreciated.

To: keith massey who wrote (11863)	5/7/1999 10:35:00 PM
From: Buckey	Read Replies (2) \| Respond to of 62348

A lesson I would like to share with all on averaging down if you are so sttopid to not sstop out. Last year I bought 1k of NAI at 1.77. I then bought 1k at 1.40. then 1k at 1.20 another 1k at 1 and finally2k at .80 Never once do I think the TA would have said to buy. FTL is the story - I read the NR and it came off an extended halt. I wanted 3k but I only bought 1k at market on open as I can always avergae up if it goes up. LESSON - I never buy all at once - I think The chief and Ed also prescrobe to similar buying strategies although Ed is not a daytrader as much but more of a position ( 1 day to 1 month buys). Anyway - Nothing happened - and I mean nothing - almost nothing traded - SO I could average down But why??? No signs of it going up. I could stop out but the cash was minimal ( big for me LOL). So I sat and watched it slide on 10k a day for a week. It hit .40 - today it showed signs of life and actually went to .60 - I bought 1k at .515avg and it has all the signs now of it going higher Monday as the volume was more than the entore last week. so now I am an avg of .67 and need only .70 to break even. SO I made two mistakes -1 - I bought on open and two I did not get out quick with a small loss although I am not even sure the low volume presnted the opportunity. IF I would have tried to average down without a buy signal I might be holding 2k and the stock at .10. I actually intended on trasferring the stock to a RRSP and using the loss and the RRSP contribution. BUT I saw it perk up. SO IF YOU ARE SSTOOPID LIKE ME AND DONT STOP OUT. DONT CHASE A BAD TRADE WITH MORE GOOD MONEY LIKE NAI ABOVE. WAIT FOR THE TECHNICALS TO TALK. I am lerning and i barely had a spelling error above.