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<DIV><FONT color=#000000 size=2>All,</FONT></DIV>
<DIV><FONT color=#000000 size=2> OK Robert, I'm going to
do it <G>. After I downloaded today's data and looked at my open
positions, I realized that it was time to move my IDTI stop up a point. If
I do that, IDTI will be trading below my stop. Therefore, I'm going to
close my IDTI position and that will leave me with some cash to open a position
in EggHead (EGGS). </FONT></DIV>
<DIV><FONT color=#000000 size=2> EGGS at 21.4375 just
broke out of the last downtrend formed by the 7/13/98 high of 29 1/8 and that
means there isn't any resistance until it tests that high. I tried to
construct a standard deviation channel from the 10/08/98 low but it didn't
help. If I set the deviation at 1, EGGS would be trading above the channel
and the channel bottom was too far away to provide adequate protection for a
stop placed there. If I set the deviation to 2, it was trading just inside
the top of the channel and the bottom was even further away. I don't like
to enter a position when a stock is trading in the top half of its up trend
channel, but do sometimes make exceptions for breakouts of high momentum
stocks. That's what we seem to have here and I want to take a small
position. I hope I'm not being unduly influenced by my past success in
this stock <G>. The question then was where to set my stop in
case I am wrong? I constructed a Trader Vic type up trend line from the
10/08 low and that looks much better for the stop. Since we are looking at
a high momentum breakout, I won't even try to draw in the top of the channel
now. I'll open a position Friday with an initial target just under the
7/13 high at 29. I'll set the stop just under the up trend line at 15
3/4.</FONT></DIV>
<DIV><FONT color=#000000 size=2> I also need to say that
this is quite a volatile and speculative position. If anyone is thinking
about following my lead, please realize this. Also I've noticed that some
of the Christmas Special type stocks I've recommended in the last few weeks tend
to open high on the trading day after I've mentioned them. Therefore, it's
not a good idea to put in a market order at the open. Instead it's better
to wait for about an hour after the open then check the price. If it's
still reasonable you can get in then. If it has ran way up you can just
pass. There is always another time or another stock
<G>.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>JimG</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Thu Nov 26 01:28:57 1998
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From: "Stan Rubenstein" <stansan@xxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Subject: Re: Off topic: Canute
Date: Wed, 25 Nov 1998 21:51:52 -0500
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King Canute thought he had great kingly power
and once, at the shore of the sea, commanded
the tides to stay back and not come in.
Outcome ? Obvious.
Neither compliment nor insult, but more like a
warning; not to assume we know enough about
the market to command it to work as we wish.
Stan R
----------
> From: derksenf <derksenf@xxxxxxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Off topic: Canute
> Date: Tuesday, November 24, 1998 10:39 AM
>
> At 02:34 24-11-98 +0530, you wrote:
> >Could someone tell me is "Canute" an a compliment or an insult?
> >
> >Rajesh
>
>
> Canute: King of England 1016-1035
>
> Now is that a compliment or an insult ??<G>
>
> Cheers,
>
> Frans
>
>
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