Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Robert Graham who wrote (38020)	3/7/1999 12:12:00 PM
From: Monty Lenard	Read Replies (1) of 94695

Hi Robert, I would like to address a couple of your comments. "I am very surprised that many did not see the possibility of the recent market move up and the visible evidence that has been in place to support such a possibility." Have you read ALL the posts in the last week on this and the MDA thread? I think if you do, you will see that MANY were expecting the possibility of the move Thursday & Friday. "Perhaps one difference is that I did not let my expectations of the market color what I actually saw the market doing, while others allowed their predictions to flaw their observations and judgement." I wonder who those were. Maybe point me to some posts??? Sounds rather judgemental IMHO. One other observation is that in order to respond to what happened Thursday and Friday one must be somewhat of a very short term trader which is exactly what you say you aren't. To take advantage of the move those 2 days one would have been buying Thursday in REACTION to the change and as a result would have been chasing the market. The other possibility would have been to go long Wednesday in anticipation (which is in essence a prediction) of a trend change. If wrong, then in order to preserve capital, one would have to recognize that they were wrong and reverse their position which leads to my next point. "I also have been reminded by a trader who I have allot of respect for that it is the stocks that I follow and participate in that matter" I respectfully submit that one had better have some ideas as to what they EXPECT/PREDICT for the short & intermediate term of the overall market because his INDIVIDUAL STOCKS are sure going to be affected. There is nothing wrong with EXPECTATIONS/PREDICTIONS. IMHO they are a MUST as only by having those can one really MEASURE when they are proven wrong or right. If one does not have that then they are less apt to recognize that they need to add to/reduce/modify their position. "I can operate this way because I am not a day trader and do not trade for a living." Then I must assume you are strickly a LONG TERM investor (5 year + time horizon). If that is the case, why would you worry about confirmations of specific market moves? Regards Monty

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