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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: HG who wrote (46428)	4/15/2000 1:48:00 AM
From: jbe	Read Replies (1) \| Respond to of 99985

Happy girl -- I gather from your comments that you are not really a true buy-and-holder, but only buy and hold a few stocks, like Cisco. A true buy-and-holder holds everything he or she buys. And goes only long! It's a way of life... For example, I held onto the oil service stocks I bought in their heyday, back in 1997, until they had lost a good 60% of their value. This year the only one I did NOT sell finally caught up to the price I paid for it 3 years ago. As a matter of fact, I made a whole $500 out of it. Whee! I would have been better off selling those stocks when they began their decline (caused by the slump in the price of oil), parking the money in some more profitable place, and then buying back into oil service when the industry perked up again. But such is life. <g> jbe

To: HG who wrote (46428)	4/15/2000 2:31:00 AM
From: SkyDart	Respond to of 99985

Happy girl and Jbe! You both have valid points. Buy and hold works but only if one is very selective. My current "screaming buys" CMGI at 52, BRCD at 96, ALGX at 50. ALso like you I like to daytrade, ie buy valueless momo plays and hold overnight or for a couple of hours. Doubled my acct in 8 weeks w daytrading. But if you are selective, don't be afraid to take your daytrade profits and buy some great 3 or 4 baggers. And BTW if I get nervous I love selling expensive calls which lowers your risk to almost zero. Best Wishes SKY P.S. I would not compare the oil service decline to the current Nasdaq drop. An individual stock or small sector may stay in a prolonged downtrend like Oil service. That is best to sell at the trend change. However the violent Nasdaq drop is like a daytrading stock pulling way back, just before it shoots up again. Given the money, the daytraders, and the nature of Nasdaq, it is clear that the current drop will be similar to that of 1998, and will rebound in a big way. A trading opportunity. Not a prolonged downtrend like thye Oil Services.