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Non-Tech : Knight/Trimark Group, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: gbh who wrote (5188)	10/18/1999 1:48:00 AM
From: Sir Francis Drake	Read Replies (2) \| Respond to of 10027

<<Is this really very important? Too whom?>> What do you think? Why would one ever wonder if a stock is going to reach old highs and how soon? LOL! <<Your bet? Does this mean you are somehow playing this "slow rise" theory?>> LOL! Your sarcasm misfired, because as a matter of fact - yes, I do intend to play it. Since I believe that only slow raises are sustainable, there are consequences to my trading. If it goes up by 1-2 points, I might not short. If it jumps by 5 points I will, as I believe big jumps are not sustainable in NITE, as they often are in other stocks. <<Are you still short the stock? Or are you simply God's gift to trading, that you "just know" that each rise will be followed by yet another shorting opportunity on which you, of course, never lose money?>> No, I am not short the stock. In fact, I have very rarely been short this stock overnight. However, I regularly shorted the stock intraday, most often in the morning, and especially after NITE rallies. Am I "God's gift to trading"? Where did that come from? I share my thoughts on this board, just like you do. Are you "God's gift to investing"? Do I "just know" that each rise will be followed by yet another shorting opportunity? I'm not sure what "just knowing" is. If you go back over this thread, you will notice, that several months ago, I already formulated the strategy "short every rally in NITE", which I affirmed many times since. When I initially stated it, I was strongly attacked by a poster here. Well, the strategy has worked like a charm. Go over the posts on this board, and you'll see my strategies clearly articulated. Did I "just know"? I performed an analysis, and was confident of the odds. Is that "just" enough for you? As to never losing money... yes, I lost money on trades, happens to every trader I know. Not that it matters, but I lost some money shorting NOVL just this Friday, when I shorted it one time too many and got hit for 1/4 point (painful, if you work with 10K shares<g>). However, interestingly, I actually never lost money shorting NITE - in direct answer to your question. And I have shorted NITE with great regularity. Still, as I have said several times now - with NITE bumping about in the low 20's, all the easy money that was made shorting, has been made. The odds now no longer favor the short in the same way - risk/possible reward ratio has changed. Accordingly, I will adjust my trading strategy. It has to be modified from "short every rally in NITE". <<"but I suspect they'll have to wait for many current holders to cash out as NITE crawls up past various break-even points." Gee, this is pretty insightful. Please give us some more SFD market theory...>> So happens, that one can draw a trading strategy based on that supposition. Not every stock behaves that way. But whether it is insightful or not depends on who is reading it. I don't understand why you feel it is necessary to be sarcastic. I express my views, and I post - don't you have the same right? If you feel that I make no contribution, but simply spew forth banalities devoid of "insight", perhaps you are too sophisticated for my lowly intellect. But since you choose such a tone, I'll give you, hopefully, a fitting answer... Dear Gary, my posts, are like a mirror. If an ass looks at them, he shouldn't expect to see an apostle looking back at him<g>. Cheers! Morgan