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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: cellhigh who wrote (3788)	7/29/2000 9:42:40 AM
From: SBHX	Read Replies (1) \| Respond to of 30051

cellhigh, In the days when I am even more naive and even less experienced than I am today, I sat through several 50% corrections in certain buy & hold stocks. Some don't recover. Now I try to come up with a certain set of rules and try to follow them rigorously. The rules are fairly obvious ones that any novice investor like me can glean from a couple of the std books, so I won't bore the experts here with silly things like RSI > 80, 150% above 200DMA, trailing stop loss, which I follow to try to sell too early (but not much too early). Which means there are too many things that will trigger a exit strategy for me. It's just being defensive in this environment. In general, I find the market to be mean spirited now, and ALL the stocks I followed and am following went through at least a 40% swing from peak to trough in last 5 months. Some are trading 25% of their peak today. Some don't recover. I think the problem is the tech stocks are NOT good candidates for buy & holds recently. I'm still waiting for the good old buy & hold days to return, this is taking too much of my time and I can't keep doing this forever. sbh