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Strategies & Market Trends : John Pitera's Market Laboratory

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To: robert b furman who wrote (257)	2/29/2000 11:27:00 AM
From: Chip McVickar	Read Replies (1) of 33421

Bob, Were you required to sell your 500 at 28..? I hope Not...! >>I no more than enter the order and the bid goes to a bid of 28 1/4 to an ask of 28 7/8. All this on 900 shares - the dow is up and the naz is down 60.<< Yes, I played the Canadian pennies for a few years and the same system exists up there, but much nastier. They do not have to declare short positions. I got out just after the BRE-X deal....markets were destroyed and have not recovered. The NASDAQ chart is exactly like many of those penny charts, but stronger at the top. Will it end here this month or next month...or a few years out...? A very wise trader and excellent once told me this: " Trying to pick tops & bottoms are for suckers- Public is historically always wrong (that's how Vegas builds casino's ) Stay away from even numbers when buying and selling and never get in or out of a position at one price." He Also Said: "Bulls win - Bears win - Pigs get slaughtered - Never be greedy always be willing to leave a little on the table for the next guy - If things aren't going your way tomorrow's another day. " Avoiding the Vegas mentality is a hard lesson to learn. A 15% profit is better then a 15% loss and still better then a 25% PAPER PROFIT. Lets us hope we are all correct and can see a serious decline before most do...! We stand the best chance possible here in this SI community... Better then any other public gathering. Did you catch this read..? jerryfavors.com Thanks for an excellent post. Chip

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