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Strategies & Market Trends : Point and Figure Charting
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To: Jerry Olson who wrote (20516)5/27/1999 7:34:00 PM
From: james ball  Read Replies (2) of 34811
 
Looks to me like the NYSE will spill over. But that is predicting. We'll have to see. If it does it will take time for the net new buys to overtake the net new sells. I have taken all appropriate action and will wait in the wings until the Option stock BP reverses up again. If the NYSE does reverse and the Option Reverses up it will be short term and I will take trading positions. I can make a good case now for much shorter term trading. It is always best to lose opportunity instead of money. Remember a 30% hit in a portfolio takes a 60% gain to get back to even. At the average rate of return for equities for the last 70 years that would take approximately 5 1-2 years at the average. A higher risk portfolio could get back faster but could also lose another 30% quickly. Risk management is really the play. Mutual funds that must remain 100% invested must ride them down and then ride them up and then down again. You don't have to. My gluess is investors are selling risk and buying safety. IE Elect Utility reversing up. I do have one Nut portfolio that I will hold for very long term with no changes and have lost 40% of profits over the last three weeks. Still up 35% and that might go fast from here. If this one portfolio is indicative of Mr. JOnes who is overleveraged in Nut stocks, blood is running in his portfolio. This is when the game gets very interesting and the craftsmen and craftswomen excel. Go Buckshot Jones! Tom
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