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

To: Tony B who wrote (15140)	5/25/1999 12:43:00 PM
From: LTK007	Read Replies (5) \| Respond to of 56537

Just ate a bucket of dirt took 8,000 loss on BKS for my ugliest trade of the year award---last hope was for BNBN to have a blow-out opening but once it came out struggling at 24 BKS shot from 31&3/4 to 30.50 so I said "censored" and ate the dirt. Reasoning,market is very,very ugly in the nets--I could see the potential,the threat,of BKS settling in at 27-28 and 2k being in dead money situation ===my law is this--I say to myself "could this go to 27?" and IF I answer "maybe" then I must sell. BKS is as frustrating a trade I have ever been in,as I saw a no brainer turn to totally sour---profits taken 4k -- losses realized 11k for overall loss of 7k. Max