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Strategies & Market Trends : Classic TA Workplace

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To: Win-Lose-Draw who wrote (173688)	11/19/2008 8:38:27 PM
From: The Freep	Read Replies (2) of 209892

I think you'd be idiotic not to be scared, though I don't know that you're idiotic for legging in. It's easy for me to say I'm expecting sub 700 SPX, but there's a chance we hit a low tomorrow and rally. Now, I don't know if you'd then use stops or if you have stop out points for these things. If the SPX is gonna fall 15% from here, I don't know where that puts the XLF. And the Naz just looks like a mess. GOOG has patterns that point 100 points down from here, seems like. Again, don't know that they come. But as discussed earlier, I've got a take that says I get better entries later. My scenario also has us above these levels next year, so unless you pick a company that goes BK, you probably do okay. And i know you're looking at "bargains".... I don't see a lot of folks scaling in like you, but I do see people picking the bottom and going long every day. I'm sure that alleviates your fear :-)

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