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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Berney who wrote (76981)	5/14/2001 12:16:46 PM
From: American Spirit	Read Replies (3) of 99985

Stick to your plan. We are always at the mercy of timing. Should have sold a few sessions ago but took my profits (and a few losses) at open this morning not liking the action. Holding oils, VZ and a few others and going on vacation. Now watch everything I sold pop back. LOL Shake-out and profit-taking on techs is already uncovering excellent bargains. Hope they're still around when I get back from Europe. Yes, Ben Graham was the father of T+A. Interesting enough though the three investors in his family I know have had mixed to bad luck, including several high-cost bankruptcies, failed IPO's etc. and none of them able to build on their ewalth despite their pedigree. I also have a friend in the Dow Jones family who's had similar bad luck. Just goes to show you, there are no rules, access or special degrees which guarantee success. Risk is the same for everyone and no matter how much sense a deal or investment makes it can fail. Or succeed. And a lot depends on when you cash out. Buffett is a great businessman but also missed the entire bull run until this year. He doesn't buy tech at all and tech remains our premiere growth industry though it is a bearish period now after a crash. Good luck to you. I gave back some of my recent gains but remains up 45% for April-May instead of 65% where I'd hoped to be by this time. I mistakedly expected a nice rally going into this Fed meeting and apologize to those who followed my lead. My mistake, the market often counteracts any investment ideas which become the consensus. Therefore, we are in a quandry. To jump ahead of the current action-mentality, cash out while the going is good or to go with the flow and maybe have to cash out when everyone else is at lower prices. We play and sometimes we pay. And the game goes on. The stocks that are down today may very well be up nicely within a week. But I'm mainly out for now.

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