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Politics : Idea Of The Day
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To: Cynic 2005 who wrote (13723)11/7/1997 6:24:00 PM
From: Tom Trader  Read Replies (3) of 50167
 
Hi Mohan re >>The way the shorts are being bled to death is unbelievable

I agree with your comments whole-heartedly regarding what this market has done to the longs--I invariably respect Iqbal's analysis but I think that he is sadly lacking in objectivity when he makes such a comment. Almost every sector that the people on this thread love to trade -- with the exception of the oils---are down. Some sectors--the dds and semis are not just down but are devastated-- so I am at a loss to see how the shorts are bleeding to death if the longs are suffering. Besides we know that there are individuals who have posted on this thread about the losses they have experienced during this down-turn.

I am long to the tune of about 30% in my trading account and I know how much it is down. I also know that if I had been short all that I am currently long--I'd be smiling, like a Cheshire cat right now. Fortunately, I am hedged somewhat---and I am so glad that I liquidated most of what I have into strength in the June/July period.

I am short the S&P futures finally--and for all I know this market may rally starting next week--in which case I have no doubt that I'll be long the futures at some point. So my comments above are not so much an attempt to offer a view regarding the market outlook--since I wrong as often as I am right, as far as that is concerned--but for anyone to say that this down-turn is penalizing the shorts, is not looking at the same information that I am. If I have taken Iqbal's comments out of context, I apologize.

BTW, this is the second time that we have agreed in two consecutive days -- and if you are not careful your carefully nurtured reputation among the Kahunaites will be jeopardized:)

Regards
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