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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: freeus who wrote (3582)9/25/2000 7:52:49 PM
From: RR  Read Replies (6) of 65232
 
Freeus: Like Dealer, I flinched when I read your post this morning. Couple of thoughts.

1.) Never buy options at market. You mentioned you did so this morning. I have been screwed too many times doing that, especially with options. Set your price. Try to make it come to you.

2.) Try letting the market settle in after the first hour. I try not to ever do anything that first hour. Too many times it changes thereafter, especially coming off a weekend.

3.) Margin - perhaps you know my view on debt. I hate it. I firmly believe a life goal that each person should aggressively pursue is to become debt free. Margin is debt. Period. Some don't look at it that way, but it is. In a market like this, I would not recommend that anyone go on margin.

4.) Your comment about a bear market after one day... I get the impression that you are surprised by what happened today. That concerns me greatly. This market is dangerous. It is not pee-wee league. It will turn on a dime. While a few of us on here still think we will make a run on 5000 by year end, I would never underestimate the potential for this market to crash, to put it bluntly, even with my bullish outlook. I respect what the market can give and how quickly it can take your head off.

My two cents worth. These are comments I've said before on here and maybe you've read them from me before. I really feel for what you said in several of your posts earlier today. Hang in there. Patience. Be careful and keep things in perspective.

Good luck.

RR
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