MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.89

+0.3%

Dec 3 4:00 PM EST

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To: Techplayer who wrote (61678)	10/31/2000 6:34:10 PM
From: KymarFye	Read Replies (1) of 99985

Techplayer: Your guess is as good as mine. Veteran traders (whom I've heard are all destined to be dragged kicking and screaming to ruin by the laws of the universe) advise holding a winning position overnight after days like this, hoping for a pop on the open, figuring that the profits on follow-throughs will over time (though, alas, not over infinite time) tend to outweigh the losses on regression-to-the-norm type pullbacks. Another option, taking into account the volatility you describe (very reminiscent of the previous episode of bottom-peekaboo last April-May), and with the major indices rising in tandem on increasing volume, and the potential for a mad frenzy of October-is-over buying Ponzi-ing us upward exuberantly, would be to lock in partial profits on opportunity, even on the open before any "fade," but let some positions or partial positions ride on (depends on how many positions you hold at once).

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