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Strategies & Market Trends : The Millennium Crash

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To: The Perfect Hedge who wrote (1698)	11/25/1997 2:34:00 AM
From: Richard Estes	Read Replies (2) of 5676

I never ever recommend averaging down. You don't put good money against bad. At the moment, I have database problems and can't really look at it. Maybe tomorrow. Hate to rub it in, but options for trading can be dangerous, as you see. If anyone is getting into short term trading, they MUST learn to take a loss quickly and get out. I think no more than 10-15% of total capital should be put into any one stock. Losses should be cut at 8-10%. We get into something because we expect it to move in our direction, if it doesn't, no wishes, news, balance sheets are going to make you money. only price movement in your direction. I don't know where you stand, but review the loss you can take to shorten your exposure. The servicing sector is oversold but it can relieve this by basing or extend it by going lower. There are more sellers than buyers, that can change. But I don't expect old highs any time soon 2-4 months if then. WHO Knows. I hope you make it out of there, all right. Stay away from Casinos :)

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