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To: stockman_scott who wrote (8020)	6/30/2002 9:46:13 AM
From: Sig	Read Replies (1) of 13815

<<The same with declining stocks. The slide ends. Or at least, it always has – and usually with a bang. After the market fell a total of 37 percent in 1973 and 1974, it jumped a glorious 42 percent in the first six months of 1975. No one said that making money in the stock market was easy. It's in trying times like these that you earn your keep, through discipline, wisdom, moderation and patience.>>> Wise words: I am now trying to digest words that Peter Lynch spoke on Friday 1. He mentioned that one problem was an inclination to sell too soon and in one case a stock rose 500 % after he sold. Many bears on the Dell thread in 1996 took their 100% or 300% profit and ran. Its a problem we all seem to have. Holding though the last two years requires incredible discipline- far more than I can come up with With this market permeated with day-traders, a lot of discipline is involved in selling before the market close- taking profits and run. IMO successful traders are very scarce its not the kind of "investing" that appeals to me. Lynch sets a profit goal when he buys, and therefore sells when the goal is reached which does require much discipline and will cause one to sell some stocks too soon. He was running a fund and forced to operate under the "prudent man" restrictions. If dealing with tech stocks in the 90's and setting goals, he would have sold nearly all of them too soon. Patiience: We are all waiting for something, an end to the war, jail terms for the local extorsionists, the next election, better security and especially an indication of market direction. The last being the most elusive of all and the safest assumption is that it will go up as has always been the case. . Sig (pattern day-trader and faux bear)

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