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

To: Paullie who wrote (30798)	7/28/2000 9:33:04 PM
From: DlphcOracl	Read Replies (4) \| Respond to of 57584

Paullie: I, too, expect a downturn below 3400. But I do not know if the market will turn at 3300, 3200, 3100 or 3000. I DO know that the day it bounces off of its "V" bottom will be one the best days in terms of percentage gain to be invested. To avoid missing that day (and the next several), I plan to "average down" beginning at 3300. At 3300, I will buy 1/3 positions in the stocks I've tracked that I want to own. For each 100 points the NASDAQ declines further, I will add a 1/3 position. I intend to be fully invested at 3100 (or higher if NASDAQ does not sink this low). My reasoning is that the stocks I (and most of this board) gravitate toward are the most volatile. By the time NASDAQ hits 3300, these stocks will be 90-95% of the way toward hitting their lows during this downturn. I want to be in them BEFORE they bounce, because when they do, they will spike 10-20% that first day. In short, the risk/reward becomes favorable for me at NASDAQ 3300; I'll take a 5-10% move further down to catch the 10-20% bounce up off the "V".

To: Paullie who wrote (30798)	7/28/2000 11:38:42 PM
From: Rande Is	Read Replies (3) \| Respond to of 57584

Paullie, Tonight on CNBC, Ralph Bloch. . .an excellent TA'r and the only market analyst I pay attention to. . .said he expects 3200 to be the bottom. . .and feels there is little chance we move forward without heading lower. . . though he expects we get a brief relief sometime next week. . .which he recommends selling into. . . It has been way cool to predict the market moves, then a few days or weeks later getting confirmed by Ralph Bloch's TA. I've said before that when that happens, I get an extra shot of confidence in my trading. . .which I enjoy. LPTH - we're still wanting this one, but it is moving along with the rest of the market. . . fully expected. If the bulk of your income is from your trading, then you are a professional trader. You are in the business of trading. . . which means you can write off financial memberships, commissions, quote services, calls to companies, seminars, books even your Wall Street Journal. You need not have a business address. . .you can work from home. . .and if you have dedicated an area of your home strictly for your business transactions, you can write off that percentage of your home payments as home office expense. Tax laws are highly complicated, however, and there are many tiny details that must not be ignored. I'm not a tax advisor. . .please consult one for complete instruction. Also, for the do-it-yourselfers. . .the J.K. Lasser book is very good at getting right to the point. . .and is available at every book store. As for predictions. . . .make sure you don't forget to VOTE! Thanks much, Rande Is PS> Glad you are settled in. . . you are rarely in one place more than about a month, huh? Guess that keeps things from getting old. Best wishes to you and your family.