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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 165.81+1.9%3:59 PM EST
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To: Ian@SI who wrote (3491)11/17/1997 1:51:00 PM
From: Ira Player   of 10921
 
Ian,

I think you misjudge me!!

Re: 3. I don't believe I have the ability to predict the direction or timing of short term market moves. The key advantage I have over fund managers is time. I can buy the leaders cheap then hold indefinitely as I don't have to file a quarterly report showing my results. (which is good this month.) Unlike Ira, I hope to be able to profit from this one advantage.

I do not attempt to predict the direction or timing. I enter when I "see" the change, confirmed by volume.

I am usually invested in short/intermediate term trends. I go from 20% to 100% invested depending on trends in the stock I follow.

I "day trade" on margin, always closing by days end to limit my leveraged exposure.

As for taxes, I have looked at my past trading activity and note to my surprise, (not at the fact, but at the magnitude) that I tend to close positions more at the beginning of a quarter. While this was not a consious "plan" (it is now ;^)), it does have the benefit of allowing me to play with the "tax mans money" for the remainder of he quarter, before sending it in.

I took a hit recently by being overly stingy with Uncle Sam, and don't intend to repeat it. I will, of course, but don't intend too!

Ira
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