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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: DlphcOracl who wrote (23703)	4/11/2000 8:18:00 PM
From: VanScott	Read Replies (2) \| Respond to of 57584

I've been waiting for an entry on gblx for a long term hold. I think the chart looks like more downward pressure, perhaps into the low 20's.Iaac is looking interesting in the 6 area- may pick some up tomorrow. Van.

To: DlphcOracl who wrote (23703)	4/11/2000 9:39:00 PM
From: Rande Is	Read Replies (2) \| Respond to of 57584

Delphic, I believe your decision to be wise. It is VERY VERY easy to give up gains in this hyper-volatile market. . .yet making money is very difficult. Think about it. . . currently. . . buy and hold is not working at all. . . position trading is dangerous. . . swing trading the volatiles is ultra high risk. . and nearly impossible to predict. . . .about the only decent play is scalping a single stock for a few points up or down in accordance with the Nasdaq 100 index. Preservation of capital is a very important part of investing. Rande Is

To: DlphcOracl who wrote (23703)	4/12/2000 4:07:00 AM
From: lightfoot	Respond to of 57584

Dlphc, This is the second summer that I am taking off from trading. Taking my cash and making my money in my contracting and sales business is much better for me. Couple that with the daily charts all showing right shoulder formations developing, Qcharts not working properly, problems liquidating my account at MyTrack, and just plain tired of staying indoors all day. I need some variety in my life and as Rande has said the big boys are leaving Wall Street for the summer to their subordinates to short to their hearts content. RE: Taxes, I did file the appropriate letter with the IRS to claim trader status and lump all trades together on a Form C just like my normal business activity. Yes I will have to pay FICA and income tax, but it looks to me that it will be easier for me do the accounting and be able to deduct all the costs and loses against the gains. Filing this letter doesn't mean that you can't still be an investor, but it gives you additional alternatives that investors don't have. Maybe next year I will develop some shorting skills, but for now it is time to spend my time doing other things that are more profitable for me. This is just my system, but it works for me. I will come back in the fall ready to spend the cold months indoors trading with a fresh attitude and perspective of life outside of trading. Take care and best of luck.