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Strategies & Market Trends : DAYTRADING Fundamentals
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To: TraderAlan who wrote (10679)11/21/2000 4:05:55 PM
From: Jon Tara  Read Replies (1) of 18137
 
Alan, I think the election confusion might be a blessing in disguise.

The NASDAQ has been looking for an excuse to tank. It found one in the election. PERHAPS this will get it over with sooner.

I think it's clear that there will be one ferocious rally when the election results are clear - no matter which way it goes.

The problem is judging when the cloudiness has started to lift.

I certainly don't want to be either long or short in this market, though I think that short is the more dangerous position. While the market will probably meander lower until the election is resolved, I suspect the move to the upside will be violent.

FWIW, I basically called it quits a couple of months ago, keeping my 600% 1999 profit, which went nowhere in 2000 (unless you count February, which is when I SHOULD have gotten out - HA!) I saw my bellweather co-worker run off to FedEx with yet another margin check for Ameritrade one time too many. :) The profit's in a CD - the rest is sitting in my brokerage account waiting to pounce with options.

Fortunately, I had this option, because I don't trade for a living. It's gotta be tough if you do, because I'm sure that the profit levels that are possible are lower. You've got a lot of gumption to stick it out, and I am sure that it will certainly make you a better trader.
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