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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Investor2 who wrote (926)7/17/1997 11:33:00 PM
From: BHaulman   of 42834
 
I2,
I try to look at market sentiment primarily. It tells whether there is sufficient buying power left in the market. The exuberance yesterday after such a steep climb for the tech stocks (which is what I'm primarily in and out of) was made me take the first 25% off the table. If the market goes higher still I'll look to take another 25% off the table again until the market seems too absurd and I'm 100% out. If the market drops 2, 5 or 10% but remains bullish then I don't get back in. The bears have got to show up and then I'll get back in 25% at a time. The more scared they are, the more I buy back in. This strategy most likely only works for corrections in a bull market. Come higher interest rates or a prolonged bear market, I'll have to think of something else.

I got out a few months early (late last December) and the market treaded water until February. Then it fell through April and by them I was buying at a time when people were scared of the techs.

There is no formula for this process, it just gut feel, reading market sentiment and listening to BB for confidence at buying the bottom of the market. Last July, I felt like a fool for a while but was 100% at the bottom and had a 30% gain July through December. Good trading!
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