Thanks ljmi. I appreciate the fact that you noticed.
In my last message to you, I really conveyed an attitude towards investing more than anything else. I've spent most of my adult life in commission sales. If I didn't produce, I didn't take home a pay check. It took a certain attitude to learn and prosper in that sort of an environment. It finally dawned on me a couple of years ago that I needed to develop a certain attitude towards investing, if I wanted to achieve success.
I began to think that if I showed the same attitude in my job, that I did in investing, I never would have survived in sales. In the investing world, I found myself chasing results. I found myself trying to catch bottoms and ending up catching falling knives. I found myself being managed by the market as opposed to managing the market myself.
In sales, we used what we called the warm-up period prior to presenting our product. To most of you, that meant the idle chit-chat we engage you in before we get into the meat of our discussion. It was during the warm-up period that we were looking for hot buttons. We were listening very closely to what you had to say and how you said it. If I asked the right questions, you would tell me how to sell you. You wouldn't know it, but you would give yourself away.
I have found the same technique works with the market. The market will tell us what to do if we put aside our bias and truly listen to what the market has to say. Good investing, as in good selling, relies on how well one listens to what is being said.
We must learn to live outside ourself if we are to be "consistently" profitable. Let me repeat that! We must learn to live outside ourself.
When we learn to put our bias aside and listen to what the market is saying, the clues are there. It's up to us.
At the risk of being a little Sliderish, some may want to read my last message to you. There was a lot of useful information, if one is able to maintain an open mind and live outside oneself.
Here's the chart as of the day I wrote you. It looked like the OSX was ready to bounce.
stockcharts.com[h,a]daclynay[d20020911,20030306][pb50!b200!f][iut]&pref=G
Here was my response after the close on that day.
Message 18666241
dabum |
