Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Ken Reidy who wrote (94856)	7/16/2002 2:23:27 AM
From: mishedlo	Read Replies (2) of 99280

Ken many of us are frustrated to hell. Bulls and Bears alike. You can sense it in board posts. HAL is not frustrated cause he is 100% cash. I get very frustrated at times. I seem to be managing my IRA reasonably well but my trading acct not as well. Theoreticlally it should be the other way around. To short in my IRA I have to buy puts and the bid/ask spread is an obstacle to overcome. You need the first 30-40 cents just to break even on the more volatile issues. In my trading acct where I can short I am not doing as well as every little bounce jitters me. Go figure. Swing trading puts has done me better that trying to day trade every bounce. Note: I will take tiny profits on puts and that is not what you are supposed to do but if it looks like we are bouncing I take the profit and try and re-enter something higher. It might be a different stock. As for gold. I bought a little ECO yesterday. Something did not seem right today. $ dropping, POG rising but no real bounce in ECO. Just up a few cents from my purchase. Well profit is profit and I took it. I guess the moral might be if you see a negative divergence like we saw today in gold stocks, do not ask why just get out of the way. They seem to be in a range regardless of what POG does. As long as they stay in that range, try and buy as low as you can and do not be afraid to take small profits. The small profit I took was in my IRA. I was hoping to hold ECO for a couple days but it was not to be. Now of course I hope gold crashes cause I want to buy the dip. It was a small position anyway cause I expected a naz rally could begin any time. Gold is about the only thing I really trust, and You can hold it IMO without worry as it will get back to its highs. But Until I see a bigger dip, I am not plunging in big time. Good luck. M

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