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Strategies & Market Trends : Lizard King's Trading Swamp
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To: Robet Butkus who wrote (2050)10/11/1997 12:59:00 PM
From: LzzrdKing   of 7396
 
Emotions are very powerful. If you cannot admit you are wrong, you will have trouble making money in the market. Lately I have been doing well picking stocks, but as always, You have to cut the losers quick and move on. It's the big losers that will hurt you all the time. In this market, finding stocks to trade is easy, but avoiding the big losers is how you become successful.

Notice that the top three IBD sectors are all oil related, and chip eq stocks are falling. I will be looking over the charts in the oil sectors this weekend.
You may notice from my positions that I have shifted out of most of the chip eq stocks, and hold only one now, UTEK. That is because the sector is weakening and the accumulation/dist ratings on the stocks has been falling.
I will not sit around with stocks in a falling sector, but I will continue to monitor as I don't think the KLIC earnings shortfall is reason to believe the sector is falling apart. I will be watching the earnings reports from AMAT, KLAC, etc as the comments there and conf calls will set the tone for the stocks down the road.

MSON by the way is splitting in about 9 days, so I will start adding to that position on the way up. It has been drifting on light volume as the market makers do a shake out of weak hands.
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