Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Arik T.G. who wrote (2633)	7/17/1997 5:45:00 PM
From: Tom Trader	of 94695

>>What were traders buying yen against USD at 80 thinking? They thought they were trading with the trend.<< And what were the traders who shorted the yen at 150 before it got to 80 thinking--they thought that they had picked the bottom in the $ and that the trend had to end. See that works both ways. But the reality is that you and I don't see things that differently -- you look for confirmation signs and so do I. I am more than willing to give up 15% of a move to catch 50%. The tendency of traders to catch tops and bottoms costs them dearly--and you know that. >>Well, somtimes trends end<< Arik--you are so right about this---trends do end--in fact, trends invariably must end. But it is easier to take a position after the trend changes than to try and pick a top or bottom. Did you think that today's market action was significant?? Take care

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