Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Paul Shread who wrote (290)	8/21/2001 5:45:18 PM
From: isopatch	Read Replies (1) of 36161

Interesting indeed! Reminds you a little of the kinds of things that caused the 87' selloff. Portfolio insurance and Index arbitrage generated sell programs were all automatically triggered by computer programs with the same stops based on the obvious chart supports and major ma. Or LT Capital Mgt. No matter how many Ph'd theoretical genius' you have, once most of the players are all doing it, the result is always a disaster. Contrarian analysis may be the most challenging part of my own work. Granted it's tricky to learn how to apply it. But isn't it amazing how few try. Had a guy on the old thread who once posted he didn't, "...give a rats ass about market sentiment." Can you imagine?!<lol> No wonder so many people have problems investing profitably over the LT. They do fine in a multi-year Bull Market. But once the going gets tough.... Always thought Bob Farrell had a great intuitive grasp of contrary thinking. His weekly conf calls on the squawk box at my old office, years ago, were like a seminar on the subject. Fascinating stuff. Iso

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