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.

Gold/Mining/Energy : Position Trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: keith massey who wrote (1118)	5/21/1999 1:07:00 AM
From: Bruce Morgan	Respond to of 2259

The first stock I bought on the VSE was CTQ. I made $12,000 when it ran in the fall of 97. That was the worst thing that could have happened. It's like winning on your first pull on a slot machine.You forget that the odds(rules) favor the house. I still own a couple of these trophies in my account. LDM broke through resistance at 10.65 today. I own this at higher levels. My daily slow stoch tells me overbought. The chart from 16.00 to 11.50 looks like a ski jump. Do you think there is life here?

To: keith massey who wrote (1118)	5/21/1999 1:57:00 AM
From: Ward Nicholson	Respond to of 2259

CLT: However if it heads any lower tommorrow it might be a total breakdown. Those were some big support levels it broke today. The only positive sign in my mind was the low volume it dropped on...good chance those were technical stops being hit. I'm looking for a sign of a turn around on volume before my buy goes in. Can't argue with you there. I should clarify my strategy here... When we get a heavily sold market, like we did in Metals and Minerals today, I usually wait right up until the close and then go long. At close you see a lot of positions being exited, usually in the direction of the day's trading. CLT had a lot of this kind of pressure on the close. More often than not I've been able to grab an easy 0.25 to 0.50 by selling within the first 15 minutes of trading the following day. In actuality, my assumption is that the downward trend will continue tomorrow, but only after a move on the 1-minute chart than resembles a heart-beat on an EKG. I know it's only a blip of a move, but I've raked in more than a few bucks by doing this regularly. Sometimes I'll short it minutes thereafter when the downward momentum looks to be resuming. The trading at the close of Mar 29 and opening of Mar 30 is a good example. Of course if CLT gaps down tomorrow I'll be in a loss position, but usually these are only exhaustion gaps making the stock ripe for reversal (provided there is no fresh negative news bearing down on the trading). I guess we'll see tomorrow morning. WN