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Pastimes : ASK Vendit Off Topic Questions

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To: Guardian who wrote (16738)	12/1/2000 8:03:48 PM
From: avanti77	Read Replies (1) of 19374

"Make no further investments. Traders should keep a close 20% stop-loss on all positions. " Hi there Dave, I agree that it's very treacherous here, and wouldn't recommend trading it to anyone who wasn't very agile with the twists and turns. That said, if I kept a 20% stop loss on my positions, I'd be close to broke by now. My stops have become very tight (1-5%) because when it goes wrong, it escalates very quickly in this environment. On any short-term gains, I make sure to cash in on at least 50% of it, and stop out on my entry price on the rest. The big question now is when will the fed act? Will they let the market twist in the wind until all the excess is wrung out? I don't know the answer, only know what I'd like to see happen. So that and a couple of bucks will get me on the subway, huh? There are still valuations that need to correct a lot more, and then there are some that look extremely attractive for accumulation. Stock picker's market more than ever. Cash has been my best ally all year and I'll have to continue to trade back to it for safety and sanity. <g> It was gratifying to have a decent day on the long side today. There haven't been many of those this autumn... Donna

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