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Strategies & Market Trends : LastShadow's Position Trading
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To: Jay Lyons who wrote (6643)1/18/1999 9:01:00 PM
From: LastShadow  Read Replies (1) of 43080
 
Excellent Post & MIGFX

exchange2000.com

Someone asked Steve Goldman about how he could find out if he'd been shafted on a 1k share buy filled at several levels (see referencing post). Anyone who ever wants to know what to do should read that post.

MIGFX - Its up 6.7% in the last 6 months. But its up about 40% since the October 8 tanking. The local maximum is 16.39, meaning you would look to protect profits it is moves below 15.5 - it came within 17 cents of that Thursday. Regardless if a fund is a long term affair, it is no less prudent to protect the capital against market corrections. if nothing else, i would hope people set someform of mental stop and follow through when the market is iffy with a periodic check. MIGFC closely follow s the SPX (S&P500 index), so if you see that turning south, be the fastest rat off the ship. It only took three days in late August last year for that fund to lose 30% of its value.

And guess what gang - the same is true for almost all the funds I have looked at. One has a 3-5 day window to hit bottom in any steep correction. It took 6 weeks for the S&P 500 to go from 1187 to 950 between Mid July and the end of August last year. It took five weeks to drop the first 8%, but it dropped the next 12% in the last 4 days of August.

last(climbing down off soapbox)shadow
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