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Strategies & Market Trends : The Art of Investing
PICK 46.18-0.3%Nov 14 4:00 PM EST
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To: Sun Tzu who wrote ()2/22/1999 7:17:00 PM
From: Sun Tzu  Read Replies (1) of 10599
 
I think I may have been wrong. I expected a big drop for today and instead I took a major beating on the short side. Not to mention that three of the stocks that I intended to buy after the sell off that hasn't come (may never come?) have had amazing gains since Thursday. Check out SNS, RMBS, and ANF. As a rule I wait 3 days before I completely make up my mind. So if by Wednesday the technical picture is not worse than it was on Friday, I will apologize to the market by the only way I know; I will take my losses and venture to the long side. There is really one rule about the stock market that you need to know:

Making money is good; losing it is bad.

Let this rule be your guide in your market adventures and you'll do fine.

Incidently, last Wednesday I was tempted to actually buy some SIEB shares. Not that I felt that the stock was worth half its price. But I saw a post on the SIEB thread in which the longs were complaining that the stock is going down and that they cannot even barrow it to short! So when even the longs want to short, the stock has no place to go but up. It has since rallied over 50% sine then (ooch!). I should have listened to my instincts, but instead I let misguided fundamental analysis cut my profits in half.

Such is life,
Sun Tzu
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