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Non-Tech : The Critical Investing Workshop -- Ignore unavailable to you. Want to Upgrade?

To: freeus who wrote (21386)	6/3/2000 9:22:00 PM
From: IngotWeTrust	Read Replies (1) \| Respond to of 35685

Freeus, I don't know what to think about the August downturn. I do know that: ALOT of people head for holiday around the world during that month, and you could roll a "bowling elephant" down the aisles at the NYSE and not hit a specialist during that month. The plebes are left in charge, and they are too scared as a group to do anything more than delta hedge and scalp for drinking/party money that entire month. But whether that gives us a buying opportunity or a "lull" in the market, I'm just in NO position to say. I just know I'll be using my KC tool or Coffee Filter Wedgie and measuring trendlines, eyeballing support and resistance, and doing my moving averages math, so that I'm incharge of my money and not the faceless, sheeple running amok at hedgefunds and mutual funds. The NEXT opportunity after August of course, is when the dreaded October anniversary rolls around each year. The only reason why that provides a buying op is this: Mutual Funds, by and large, have to have their Portfolios squared up and send to the glossy webpress printers in time for their annual reports season. That is what causes the swoon and nothing else, as far as I'm concerned. More mindless herds thinking and knee jerking simultaneously. Then there is the take the loss season at Nov for the "wash rule" players, and the put strategies employed to defer sales until January and the new tax year... Freeus, I don't know WHAT heart rending buy op will hit us next, but I know, just as sure as I'm writing to you that there will be another scare and then another scare after that. It's the nature of the beast. Please, just learn to step back, grab a WEEKLY CHART and grab your "wedgie" and besure to have some money to put to work. If this market holds true to form, the next rally will pause at/near the current "highs" in most issues and indices, fail, and then precipitious drop OR churn around looking for direction. Then it will try a 3rd time, and the stat probs are high that it will fail then as well. There is an old saying of "4th and thru" and they weren't talking 'bout football 4th downs either<g> So, if you want cash, then learn to scalp and take some "little" profits as you go along, but do it with discipline and grace. The grace will come in handy if you have to "chase" a stock you regret selling, and buy back into it higher than you got out because you mis-read a trendline, or a news story or whatever...like the market massively over-reacted to AG, and ditto the QCOM China/WTO FUD. RE: my latest reply. There is NO new test questions, dearheart, so take a deep breath and get ready for some solid back patting! You're a terrific discussion partner! Have a great weekend! O/49r