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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: GraceZ who wrote (206043)11/21/2002 1:20:05 PM
From: Perspective  Read Replies (4) of 436258
 
That's some excellent advice. I've been called a clown for saying it, but you must have conviction in order to enter a trade and sit long enough for it to pay off. If you know a trade goes against your mentality, you're predestined to lose on it.

If you believe as many do on this thread that we are still in the first half of a secular bear that will last ~10 years total, you should not expect to play along on these bear market rallies. You should take profits when things have gone well, and know well enough to step aside when the nitro starts to kick in.

That said, I'm having a *really* tough time sitting on my hands right now. I'm fairly well hedged, but itching to ditch the hedges. Too many put buyers right now though - methinks it works a tad higher first. Besides, I don't expect a quick roll out of this strength before the end of the year - a gradual bleed should resume once the speculative juices - and the free Clownbux - exhaust themselves.

BC
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