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Strategies & Market Trends : Strictly: Drilling II
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To: gold$10k who wrote (10924)4/21/2002 2:51:58 PM
From: isopatch  Read Replies (2) of 36161
 
vt. Roger that. I'm always working on

some specific area of my trading that needs improvement. And there's never any shortage of them.<lol>

AFA confirmed bottoms go? My experience has been that people lose a lot more bottom fishing and knife catching, in a primary downtrend than by waiting for a bottom confirmed by a breakout on strong volume.

An often quoted quip by Baron Rothschild many years ago says it better than I ever could. "I'm quite happy to let someone else have the 1st 10% of a bull market, and equally content to sell my holdings to anyone who wants to get the last 10%. Just give me the 80% in the middle."

Being of more modest talents than the Baron, 60 to 70% of a major move is just fine for me.<g>.

We all know that nobody gets in at the exact bottom and out at the exact top - time after time - anyway. So by definition, everyone gives away some of every move. My point was simply to take advantage of the better risk management afforded by a confirmed Intermediate Term bottom as we have in PMs, oil service and gassers vs taking larger and larger losses in a sector like biotech which has recently seen a resumption of significant declines.

Well that's my rationale. Have you loaded the boat in biotech during the past month or two? If not, why not?

Cheers,

Isopatch
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