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Gold/Mining/Energy : byg
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To: JUNIORSPECULATOR who wrote (628)12/5/1997 10:03:00 PM
From: M5PRO  Read Replies (2) of 769
 
JS,

Long drawn out accumulation is the case! Your scenario typifies textbook professional accumulation! The one thing that the pros target and in my opinion, the weakest link, is the patience or lack of patience of the investor. The slower the decline the more wear and tear on investors nerves and as you mentioned "Panic" and "Distress Selling." Evil Torture!
The 22 pearls of wisdom are indeed ones that deserve much attention but the one I have learned the most over the years is THE MARKET WILL DO WHAT MOST PEOPLE LEAST EXPECT! Cause you never know what's around the corner!!!! Oh yeah and Take profits when you can, for they are hard to come by!!!!!! (My biggest problem)

C-YA

Matt
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