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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jenna who wrote (96867)5/9/2000 8:00:00 PM
From: Jenna  Read Replies (1) of 120523
 
Step up and gear up for your 1-2 year holds.. Why should you pay top dollar for stocks that will be up even in 1 to 2 years? that is a mistaken conception that because you intend to hold for up to 2 years you can take a 100% correction. Its also a rationalization that traders won't make the same money. Traders who are clever enough to work these markets to their advantage are most assuredly astute enough to HOLD the stocks when the time is ripe. We just cut out the 'overhead' namely the 100% haircut.

Most of us will hold long term AFTER the correction and meanwhile make all kinds of money trading these stocks short and long. That the stocks will eventually 'catch up with losses' is no reason to hold through 75 to 100% haircuts. Wait for TXN, JDSU, QCOM, CSCO, CMTN, EXDS, BRCM, IBM.. Get them at KMART prices instead of SAKS Fifth Avenue prices. Had you exited these stocks when they began to crash and just the traded the 'rallies' for 1-5 days you would have made quite a nice piece of change.

You take a little more risks these days so you can take home 75% profits from your trades. If long plays go sour, just let them go. At the end of the day just weigh your total profit against your total losses and its easily 3-1 in your favor if you trade both sides of the market. Don't be stubborn. I could have stayed in QLGC but figured it might just gap down in the morning and I'd have to contend with more than 2 points drop. Why can't I just get in AFTER a morning gap down or wait for a proper reversal.
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