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

To: Michael Watkins who wrote (49636)	5/7/2000 3:19:00 AM
From: GTC Trader	Respond to of 99985

<< What are you nutz or something? :) >> Yes, as a matter of fact, but that is OT. Seriously, I very much appreciate your thoughtful and detailed reply. The education from your post was much quicker, much cheaper, and much less painful than that last encounter shorting AMZN. I was nutz: I was convinced that I was right and I refused to admit my error when the market shouted that I was wrong. I thought that the market was over-valued and due for a sharp correction, and I believed that AMZN was especially due for a fall. During those months, I saw countless bullish charts and ignored them "knowing" that I was right. It was very costly. I exposed my stupidity to help others learn from my mistake. I appreciate your valuable insights and will try to apply them in the coming drop that I "know" <GGG> is going to happen this week. I also saved a copy for future reference. By the way, I have been an equal opportunity loser. I have held losing long positions much too long as well. Hopefully those days are over. Of course, short positions are much more critical to have tight stops on because you can lose > 100% and hence can lose more, faster than with bad long trades. Thanks again and I hope others also benefit from you insights. Best regards -- HB