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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 674.96+0.9%Nov 25 4:00 PM EST

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To: HairBall who wrote (11629)4/21/1999 1:05:00 AM
From: StockOperator  Read Replies (2) of 99985
 
LG,

I just wanted to add one more thing to our discussion of the E-mails that you received. I think we would both agree that it's regrettable that some have lost money. I know from my own experiences early on that I learned much more about myself and this crazy racket from my losses than any gain up to that time. What bothers me about your post is that it comes on the heels of a major market advance. Your post failed to consider the opposite side of the coin. Let me ask you how much money may have been lost by shorting this market when not too long ago the predominate opinion on this thread was very bearish. Many were calling for a breakdown in prices. So not only did many lose out on a signficant advance but more importantly money was lost by positions that were against the direction in which prices broke.

So I do think you are off base by implying many have lost money by betting on the bullish side during the month April.

Just my opinion.

SO
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