LastShadow's Position Trading Message Board

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Strategies & Market Trends : LastShadow's Position Trading

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To: AlienTech who wrote (8627)	2/17/1999 9:21:00 AM
From: Jay Lyons	Read Replies (1) of 43080

Morning Gang, Was it Confucious who first said "May you trade in interesting times"? Wanted to share a word of advice with the less experienced traders who bookmark this thread. File it under "From one beginner to another". Please do not put yourself under pressure to pick a bottom in tech today. We may see a perfect V bottom, but it's more likely that these stocks will pause repeatedly on the way down. It's very easy to convince yourself that your at the ground floor...when in reality the elevator was just stopping to let you on before continuing to the basement. I'm a terrible bottom picker...hell, I'm no good at tops either for that matter, but with a few painful exceptions, I can take a little out of the middle fairly consistently. I'll be in no rush to trade today, at the very least I'll want to see yesterday's lows taken out before I enter. Be careful out there. Jay

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