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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Paul Shread who wrote (26625)8/2/2000 11:18:20 PM
From: Lee Lichterman III  Read Replies (1) of 42787
 
What I recall about that bottom was that it was a lower low "W". At the time, many were screaming it was a buy but there was so much uncertainty on if a "real" bottom could be made on a lower low. Even Jerry Favors was bearish until the recovery was half over.

EDIT to my earlier post. Just to clarify. When I say I lost it all. I did not go bankrupt or even lose all my trading capital but I did lose most of it and it was bad enough I had to add to my account to get going again. My case was a case of too much confidence and a failure to study fully the gravity of the change in leverage I was entering. a 3% drop in stock price can move an option down 20% or more depending on strike purchased.

Good Luck,

Lee
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