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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: Steve Lee who wrote (15203)12/2/2002 12:04:59 PM
From: GraceZ  Read Replies (2) of 19219
 
It's just a shame for those starting out investing in this bear market that they're gonna get financially slaughtered and throw away ten years of savings into pensions and real estate that goes nowhere.

My sister said something very similar to this back in 1987 when I started in the market. She knew that stocks were bad investments, knew it. It only took 13 years for her to be right.

WRT the Livermore quote, wasn't he a gambler who died broke? Do I really want to base my actions on his advice.

He was a trader, perhaps the greatest that ever lived and yes, he died broke. Almost all traders go broke unless they quit while they are ahead. Aside from that the truth is truth regardless of whether or not the person speaking it was able to follow it. One should be able to recognize wisdom even when spoken by an idiot.

And how do I get rich by holding to the end of a bull market when we have only just started coming out of the biggest bubble in living memory?

Holding doesn't necessarily refer only to holding long. It simply refers to the habit of sticking with your conviction and not allowing the short term wiggles to shake you out of that conviction. Like I said, the only important question to ask is are we in a bull or a bear? It's not simple to answer that question although it seems like it would be.
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