Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: kendall harmon who wrote (105345)	7/2/2000 2:09:40 AM
From: SMALL FRY	Read Replies (1) of 120523

That's an excellent article Kendall. Of course it doesn't take into account the "bull-rider" traders such as myself and possibly NC. I play very well during upturns but not so well during downturns because I seldom short anything... I deal with Puts when I play the short side. Given my limitations, I stay away when the market is iffy and use that time to catch up on my neglected activities... <p> I take umbrage on some of these articles villifying the small time daytrading community. Daytrading can be quite profitable and if the trader is no dummy, he is almost impervious to the whims of the market or the hype of the analysts and investment banks. I know a couple of daytraders that hung up a "gone fishing" signs on their PC's on the first smell of blood and are still out their somewhere... powder dry, waiting to pounce on the bull.<p> I think the gambler/traders are the ones that really got hurt... the ones that over-indulge, the ones who keep leaving all their money out there waving in the wind. The ones that start out with 500 shares of something and keep piling every gained cent on the market... only to find that their "500-turned-3000" shares are now losing money six times faster on the way down... and locked in the mental battle of "Is this the bottom?" daily queries. The worst is the margin trader who think he's seen the bottom and double up his bet with borrowed money and the market continues its spiral downward... OUCH! <p> IMO a trader need to find a happy balance... otherwise he'll be cannon fodder to the market... know thy limitation and honor it! I escaped the Asian debacle by the hair of my chinny, chin, chin... I'm not about to fight another losing battle. I learned to stay away... which is very hard for me to do... last summer I sat and watched, this spring-summer, I sit and watch... <p> I'm almost back to full active again!<p> :))<br>

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