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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: LastShadow who wrote (14665)	5/21/1999 9:08:00 AM
From: Dave Shares	Read Replies (2) \| Respond to of 43080

Comments I did not do a watch list today, as I am going out of town and had little leaguer playing last night, and today is options expiration which makes things more interesting and less predictable (like I can predict anything anyways) Just a few observations to share: In the drug sector, WLA is getting some talk (involves SGP, heard this on the news this AM), a break of 70 would be a breakout in the land of Point and Figure charting. There is a big base here, so this could have some good upside potential for a hold. XLNX dipped with the other semis yesterday, and I am always leery of buying at the close of a down day, thinking that selling pressure may carry forth into the next day (lately, I have been wrong on this for the most part). I posted the other day that XLNX is a good buy in the 45-46 range, as it has been trading in the 45-50 range for quite a while, sure enough, it dipped slightly below 46, I missed it, and it made 51 on Wednesday. I suggest keeping an eye on it, it may not get back to 45, but I think it is a good "buy the dip" play at 47 if you can get it. Today may have enough volatility to allow for that, although it is bidding up right now. EGRP is a stock that I play on the short side (although I have not played it much lately, except when the market is solidly reversing down), but I have noticed (as I watch this stock) that it continues to have solid support at the 100-101 level. Buyers flock at this level, and the last couple of times it made this level, it reversed above 110 both times. Conversely, there is stiff resistance at the 120 level for those who would be inclined to go short. Good luck to all today. David