Forum Archive Index - May 2002

[Phaedrus <Phaedrus@techemail.com>]

Brian,
       The most logical position for stops is just UNDER recent support. The 
idea is that if the support level holds (as you would hope/expect) then your 
stop will not be hit. The support level provides a theoretical buffer between 
the current price action and your stop. A stop placed just above a support 
level is far more likely to be hit than one placed just below. 
 I am a bit puzzled at you seeing the last support as at 280. Maybe you were 
looking at the resistance there, and anticipating that it could become support. 
I see good support at 270, some at 274, and perhaps 278.
   Regards,
             Phaedrus.

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