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Strategies & Market Trends : NetCurrents NTCS

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To: Teresa Lo who wrote (7065)	6/5/2001 5:03:49 PM
From: Jeff Jordan	Read Replies (3) of 8925

i know i made some major mistakes today...i know why and how i made them...actually started yesterday because i was trying to anticipate a market reversal...i was wrong... I have several reasons for my gamble...first let me say...as poorly as I traded today....I still ended the day flat trading the NQ...maybe - 2pts for commissions...I'm still up 23-25pts for the week... My gamble was somewhat faulty in several assumptions...XLNX, yesterdays production numbers...that was yesterday right<g> I felt XLNX was a disappointment as being one of their worst quarters? I hear today my assessment is wrong? Earnings season...well, should I say more poor results and warnings are about to hit...I was trying to anticipate this disappointment and market reversal....so far wrong on those points...I'll give it a few more days<g> My plan fell apart on a few points...I disregarded a few technical chart signs in my aggressive attempt to catch most of the reversal....since I was wrong...I paid a price...aside from not gaining the longs today I lost nothing...and am even more ready to catch the coming reversal....some people like to wait for a move to happen and chase the trend...I try to anticipate when possible...it's easier to chase a trend when you anticipate it instead of reacting to it...that's the downside...if you are wrong...as shown very clearly how I did here...you can't win them all....I may be wrong in timing, I am not convinced I am incorrect yet in fundamental thinking... I took a chance and you can see where and how I failed...I think this is very educational....even I had to serious rethink my strategy since yesterday...I failed to adjust enough today because I still had a certain mindset that wouldn't allow a possible whipsaw event... I hope I gave a reasonable insight to my mistakes made here(nor am I embarrassed for others to see how and when I make them)...I'm not too disgusted with myself...the magnitude of this move is the only thing that is troubling me...requiring even more assessment....is this the beginning of an even more powerful move upward? I seriously doubt it...otherwise, I may be in big trouble given my current mindset or analysis of the short term picture?

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