To: Haim R. Branisteanu who wrote (43966 ) 3/24/2000 10:19:00 AM From: HairBall Read Replies (4) | Respond to of 99985
Haim R. Brainsteanu: Any one thinking that his investment wisdom and experience makes him money is a complete ignorant. No doubt about it, the market is in a mania. Haim, you bring much to the table on this thread. However, comments like the above are getting old..really! I have been using TA supplemented with FA and coupled with Sentiment/Momentum research for years. During the past two years daytrading has been consistently profitable for me. Now I did have a set back yesterday (about a month of profits), due to my ignoring my own rules. Of course, the trade jumped up and bit me. This bothers me a lot, because I know I can never make it back and I put a lot of work and effort into what I do. However, I also know that in a month or so (maybe much sooner) my balance in my daytrading portfolio will back above where it was before yesterday. There seems to be a lot of bitter bears roaming the threads these days. Many seem to have a dream, one that will make them finally feel good for having been to afraid to benefit from this mania. The dream is that those that have participated and profited will give it all back and then some when the bull market finally turns. Not a very noble dream... Obviously many investors will get caught napping or betting the wrong direction when the market turns. But for some, a fifty-percent haircut will still have them hundreds of percentage points above the bitter bears that straddled the sidelines during much of this mania. Of course when refering to bitter bears, I am not talking about the realist that know this is a mania, but jump in and take advantage anyway...heck I consider myself one of those! TA analysis can and often does work, but it is subject to the tools being used, the ability of the user and a disciplined approach. TA has never been a hundred percent before this mania, during this mania and it will not be a hundred percent after this mania. That is why each trade and or investment should have the "what if I am wrong" back up plan....always! I know this is a mania and it is going to end someday, but I am enjoying this market immensely trading the ups and the downs. Let me tell you a little secret, I will hate to see this mania end...really! Good trading... Regards, LG