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Strategies & Market Trends : Strictly: Drilling II
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To: Frank Pembleton who wrote (615)8/25/2001 11:57:32 PM
From: isopatch   of 36161
 
Frank. Saw that post on the old thread<g>

In response to your concern about getting locked into the bearish position and eventually missing most of the 1st leg up in the next bull market?

Sure it can happen. Used to happen to me when I was getting most of my input from the financial press and media. They'll do everything possible to help you make that mistake<G> It's been their joy as long as we've had a stock market. Just UNPLUG from all that noise and do your own FA work independent of what anybody else thinks.

For me the key is not to get emotionally caught up in a point of view. It's emotions that make us inflexible and take the mind out of the process of standing outside the chaos around us.

And the best way to avoid that trap IMHO is to fire those who are paid to dramatize every tick in the market. Getting rid of all that bunk has improved my LT investment performance over the years AND freed up a huge amount of quality time for my family and hobbies.

I'm very optimistic in Bear Markets because I always hold a lot of cash and see that cash getting more valuable every day the broad market drops.<g> It doesn't matter whether it's this November or 2 yrs form now. When the broad market indices are finished with this Bear Market, I'll be there with tons of dry powder.

In the meantime, I've good sizable positions in the golds that I can add to and about almost 50% in cash.

There's nothing I can think of to be pessimistic about. Careful? Sure. But, in spite of that, mistakes and occasional losses are part of this game. Just got stopped out of 2 positions on a incorrect call last week.

But too pessimistic? No. I've learned from experience that if I get too negative, it dulls my alertness and objectivity in evaluating trends and when they are in the process of changing.

Isopatch
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