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  There are times a stock in the report hits a buy point but you do not enter (designated 'buy not issued' in the table). I like to set a buy point and then not worry about it, but that does not always work in this market. What is your process for entering? (March 13, 2003)

  We try to pick buy points that once hit with the right volume coming in the play has a good probability of performing as we want. In this market, though we set a specific buy point we want to stick with as it clears resistance (upside) or support (downside), it is not always an automatic buy or sell. We look at how the market is trading because as we have seen the market can gap one direction and then reverse. In this market we usually make moves toward the end of the session as that tells more of the tale of a move for the session and helps avoid getting caught in an early run higher that turns over on us. It does not always work out but it reduces those chances. Often we see a stock run up early then fade, but then recover in the early afternoon or toward the close if it is going to hold the move (or not if it was just a short pop higher). If it makes the recovery and volume is there, that is when we prefer to move in.

Today we were not jumping into a lot of positions early simply because the market gapped higher; in a downtrend that can be very dangerous. After we saw that hold we started picking off those stocks that can move fast even if the market is in a short bounce higher. Later in the session as the moves were holding we started taking additional positions.


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