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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 387.39+0.5%Dec 9 4:00 PM EST
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To: Riskmgmt who wrote (25877)12/1/2007 9:35:06 PM
From: Seeker of Truth  Read Replies (6) of 218302
 
Hello Ray Smith,
I have been a TJ-ologist for maybe nine years. Let me explain his behaviour. To my observation he always gets the main trend correctly. There are a number of other aspects.
1. Where he lives there are no capital gains taxes. So he can go in and out without tax consequences.
2. He has a deal with his broker to pay a fixed small fraction of his assets annually instead of brokerage fees. This means that he has no ADDITIONAL brokerage cost when he buys and sells.
3. He is extremely aware of the ZIG and ZAG of things. Let Zig mean the main trend,and Zag mean the counter trend, usually the most popular one. When there has been a strong Zig then he expects a Zag, the opposite move. But instead of simply holding his position he jumps ahead of the expected Zag. My sense is that he makes only a trivial sum on those Zag forays. But it satisfies his deep desire to be on the minority side. Also to have some action. Inaction is not Tobago Jack's middle name. He loves action.
For example, he was enthusiastic about the future of China Shenhua Energy, the second biggest coal company in the world. Recently he sold and took a large profit. My guess is that he will be back in at approximately the price at which he sold it. People who have capital gains tax to pay, and are poorer each time they pay brokerage fees, tend to hold on. He has better contacts and will get in early and almost always in the right direction. Anyway he convincingly explains the main trend to those who want to listen.
Searcher of Truth
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