Re: Good Knight

["John Manasco" <john@xxxxxxxxxxx>]

Hi Al,

I looked at the low/close on 5/24 and 5/30 but I'm not sure what
relationship you see other than the 5/24 low was a multi month low.

Regards

John
----- Original Message -----
From: Al Taglavore <altag@xxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Thursday, July 13, 2000 10:55 AM
Subject: Re: Good Knight


> My 2 cents worth.  I would set the exit at 27 15/16 which is one tick
below
> the 7-11 close and coincides with the 50 day ATR.  If your trade is
> correct, I would expect to hit resistance (and take a profit) at 35 1/2.
> Then the question would be at what point you would execute re-entry.  If
> the exit is too far from  entry for your risk/reward level, then I would
> pass the trade.
>
> What is your time frame, John?  If short term (1-3 days), look at the
> relationship of the low/close of 5/24 to the close of 5-30.  This is
> something I have been working with that has been profitable, but I have
not
> extensively tested.  If interested, I will share with you off this list.
>
> I write this to counter a comment that was posted yesterday that "real"
> traders don't discuss trades.  I will gladly discuss any trade (winners
and
> losers).
>
> Al Taglavore
> ----------
> > From: John Manasco <john@xxxxxxxxxxx>
> > To: Metastock List <metastock@xxxxxxxxxxxxx>
> > Subject: Good Knight
> > Date: Thursday, July 13, 2000 7:49 AM
> >
> > I'm considering a position in Knight/Trimark symbol NITE. The stock and
> > sector both seem to have bottomed (may be a big assumption) and are
> turning
> > up. It closed yesterday (7/12) at 30 11/16. It crossed significantly
> above
> > its 10 day ma but is still below the 200 and 50 day ma although it is
> > bumping up against the 50. The 50 day ATR is about 2.75. If I enter at
> > yesterdays close of 30 11/16 and only want to risk 2% on the trade then
> I'll
> > put my stop at 30 1/16 which is only 5/8 away from my entry. If I use
the
> 50
> > day ATR the my stop will be about 27 15/16. If I use the near term low
on
> > 7/10 of $27 I would place a stop at 26 15/16. So where would you place a
> > stop? What is a reasonable risk profile for this stock?
> >
> > NITE's most recent high on 6/02 was 35 1/2 so what could I expect to
make
> on
> > the trade?
> >
> > Comments requested
> >
> > John Manasco
>