VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: T L Comiskey who wrote (25775)	12/18/2000 7:23:42 PM
From: Jill	Read Replies (1) of 65232

Jillster says.... I've become a split personality, half follows Teresa/OJ and half is still stuck in the bullish investor mentality. Therefore I am no good to anybody LOL Yeah I went long extr, and rbak at the close. Unfortunately I'm not around int he mornings this week so I have to call Tom from on the road and see what we're doing premarket to decide whether I should close them out w/ tight stops or let them ride for some points. If I were following Teresa as much sa I shuld I would have waited even though the close was not that bad, because her perspective is we will retest those pivot lows maybe tomorrow. I also have some calls inmy KEOGH but they're March. I have been creamed this fall! :-) I'm not the best example now as I seem to be a creature in transition. I do feel more comfy trading for points at this "point" of the market. If you make only 1 point a day for instance, on trading of 1,000 shares, you make 1k a day and thats 5k a week and thats 250K a year. OR do 500 shares a few times a day. Or 300 shares...or whatever feels like low risk. But it takes discipline. And that 1 point is not quite that simple. You have to close out with tight stops your losers and let your winners run. Or just scalp points on the run which you do in concert with the futures. As the futures turn, like a flock of birds winding this way and that, the naz turns too. And you can watch volume too. Like I scalped rbak twice today but somebody else in "da room" noted that it was low volume with a bear flag (that means the ticks ewre going up but basically the stock was overall going down, emphaiszed by the low volume)....and true to form later in the day it went down from 75 down to 71 or so at the close.

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