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Strategies & Market Trends : Sharck Soup
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To: eims2000 who wrote (20045)5/2/2001 10:14:29 PM
From: American Spirit  Read Replies (3) of 37746
 
Breaking even from last year? May take a year of clever trading and getting the timing right. This month is a good start. But I don't look back. Once the money's gone it's gone. You have to work on today and tomorrow. That's all you can do. The way I look at things now I'm up 45% from the lows a month ago. So that to me is a big relief. I went in long on margin 2-3 weeks ago just when everyone was talking the market down and warning people to stay out or go short. I remember this big name radio talkshow host on the last weekend of march warning everyone to get into bonds and CD's. He called it "taking control of your financial destiny". This guy has tons of followers. Well if I had taken his advice I'd still be down at the bottom or worse. So like I said, take all advice (even so-called experts) with a big grain of salt and take your own chances. This time I was right. Hopefully I can continue to play it right even if it means going to cash once in awhile. Last year at this time I was undergoing a slow grind downward. Lower highs and lower lows. Now just the opposite is the pattern.

Congrats to those who shorted last year. That good guts. But there has come a time not to short anymore. At least not for awhile. When the last short capitulates that will be the top. I capitulated a month ago. A week later we started up. I believe around Naz 2500 will be a short-term top. After that we'll need a breather. But every day is a mystery and I don't even pretend to be able to forecast it. Just going with my hunches and reporting them. If it turns out I'm wrong I'll be the first to admit it.
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