Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 689.46

-0.9%

Feb 3 4:00 PM EST

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To: Dr. Stoxx who wrote (27551)	10/22/2002 7:43:57 AM
From: Dr. Stoxx	Read Replies (1) of 39683

A note on losses: No one hates taking losses more than I do...believe me!! Experienced traders need no reminder of this, but for those newbies among our subscribers, do understand that drawdowns are all part of the game. As ever it is two steps forward, one step back...always! I believe we were right in trying to short this bloat and we will continue to do so, while playing our ONT's in the direction of the market. These are difficult market conditions...and so we keep our stops, and take quick profits where possible. FWIW, I receive 3 different newsletters from friends in the business...all of whom have been short for days now, and suffering much worse losses than we have been. I take no delight in that...I only pass that along to demonstrate how difficult this market is to read. We are all scratching our heads wondering where this buying frenzy is coming from; what is its motivation. Earnings support a modest rally, but nothing like the upward spike we've seen. So as usual, we stick with the charts and go from there...TC

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