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Strategies & Market Trends : Classic TA Workplace

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To: Berney who wrote (51048)	8/22/2002 11:51:57 PM
From: AllansAlias	Read Replies (7) of 209892

Berney, I am not even paying attention to any Elliott here. I haven't tried to make a count these last 4 days. I don't need Elliott now. I am paying way more attention to sentiment and TA (not Elliott). I was fooled. Non-tech showed a good read to me and it did not hurt me, but tech fooled me. I made a bad call and now I am watching a squeeze that seems rather easy to read. BUT, this rally is making me no money. I am not hurt as much as many bears, because I feared this from the day of the good Hound signal -- the ramp day. I did not cover right away, but I covered the ugliest part very quickly, and that is documented well enough on this thread. Got rid of the September puts and any obvious loser. Some Octobers are still on the hook; mostly Q's. I am still 80% cash and 20% short. We minted a new generation of bears in this last decline. We saw this, we talked about this, but it did not instill enough fear in us. I remember Arpil of 2000. I remember how we went out, all lathered-up and growling, and bought June puts. We got fcked. That market went sideways/up into September. We were right, but we lost money. "Option traders never die. They just expire worthless.*"

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