Dave Gore's Trades That Make Sense Message Board

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Strategies & Market Trends : Dave Gore's Trades That Make Sense

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To: The Vet who wrote (8879)	6/27/2002 6:08:43 PM
From: Dave Gore	Read Replies (1) of 16631

Vet, there's a lot of people that trade based on T/A. Whether it will pay to be a contrarian it's hard to say. It's all a game and people bigger than you or I will decide where the Market will go in the very short term. I don't mind Gold breaking $300 even. It will make stocks like HGMCY even a better R/R. It's kind of like AKLM. Hey, it it wants to test $3.50 or even break it, fine. It'll just make a better R/R play. I've been using this strategy fairly effectively lately as have many others, of course. For instance, I picked up ESST calls when the common was near $13 some weeks ago to limit risk and leverage more. Yesterday, RTN was just too tempting at $37-38. I get in trouble when I get too anxious. We all do. This market clearly isn't ready to take off yet, so you can't get at all greedy. In this Market, you can usually afford to wait to invest until stocks hit your "too goo to be true" target. On HGMCY $12 or even $10.50 is quite possible if a significant temporary breakdown in gold occurs, even though that is unlikely. I'm not predicting that but gold needs to really prove to many now that it can rally strongly above $330. siliconinvestor.com

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