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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread
VTI 334.08-1.1%Oct 30 4:00 PM EDT
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To: Justa Werkenstiff who wrote (2394)4/11/2003 9:46:50 PM
From: Thunder  Read Replies (1) of 10065
 
Thanks for the update JW. I think the NDX-100 at 900 would be in the ballpark of where Bob had his CB call initiated. To me, the market seems more difficult to try and trade recently - many head fakes, chopping etc., that's why I've stopped and am looking for longer term entries for a cyclcical bull move that may last 12 months or longer. Just a personal choice as I prefer to be going into it long, even though there's certainly going to be some pain along the way I'm sure. To assure myself of this discipline, I am holding onto a very small position some 7% higher then it is right now on the NDX.

My plan is to add 20% near QQQ 23.50/23 and 25% every 100 Nasdaq points on down. If I get hosed, I can live with it, if it works great. There are many good traders out there, you probably being one of them, but I'm unable to stomach what appears to be a increasingly difficult environment to trade in on a weekly and sometimes monthly scale (again, just to me). So my solution (suicide solution? <g>) is to buy and hold for many, many months as a bagholder I'm sure I'll become in the ST and possibly IT (if I get hosed badly, LT). Then look for partial exits of moves higher that begin with 25% gains, with possible rotation back in from the original entry point(s).

That's my plan as of right now, we'll see how it goes and gets there. Most likely, I'll be lending you some of my organs on the way down by way of SS's though. <g>
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