To: nokomis who wrote (113072 ) 9/4/2000 5:21:34 AM From: lee kramer Read Replies (4) | Respond to of 120523 "The opening scene in the movie "The Hustler" had a powerful impact on me" I told Doc Kronkite. He'd regressed me back to the early '60's....in an attempt to root out my neurotic tendencies. The goal was to make me a better trader. There was no telling how far back we'd have to go. You're probably wondering how the doc regressed me. It's a technique he developed years ago and he asked me not to reveal it. "I've got the corner on the regression market" he crowed. "I'm a specialist you know." "I know doc." "Don't be afraid" he told me. "It won't hurt. And when you wake up you'll feel terrific, remember nothing. But you might have an uncontrollable urge to spend the weekend at the Jersey Shore. "Mmmm" I mumbled. Then the doc put me "under" and we began. "Fast Eddie Felson", (played by Paul Newman) and his buddy enter a bar. They see a pool table. Newman and his buddy began playing pool for money. Newman kept losing...and drinking. Pretty soon he's loaded. A few bar-flys and the bartender are watching. Then Newman makes a very tough shot. His buddy says "Lucky shot Eddie." Newman is annoyed at the "lucky shot" comment. His buddy says "You couldn't make that shot again in a million years." "Oh yeah! Wanna bet I can make it again Charlie?" Newman says, tossing some money down on the table. Charlie shakes his head, tells Newman that he's drunk and they should hit the road if they wan to make Pittsburgh by night fall. The bar-flys and the bartender are really into into it now. "Set 'em up Sharley" Newman saysn on a heavy drunken slur. Charlie shrugs, sets 'em up. Newman checks the shot carefully, strokes the stick and misses badly. "Set 'em up again Sharley." "You're drunk Eddie" Charlie says, pocketing the cash. "I don't want to take any more of your money." Charlie walks out. Newman notices the bar-flys and the bartender. "Anyone wanna bet me I can make that shot?" he says. The bartender (played by Vincent Gardenia) seeing an easy score says "Sure" and pulls a few hundred from the till. The bar-flys know a good thing and plunk their money down on the table. Newman tells the bartender to set 'em up. He does. Newman, with his back to them looks right at the camera, flashes his killer smile, turns, walks back to the table. His fingers form his bridge and with hardly a look he strokes and makes the shot The bartender and the bar-flys got hustled. They got hustled because they were amateurs trying to beat a professional. A fatal mistake. Always. "This is the most important thing you remember from 1961?" asks Kronkite. "I guess so doc. It was the first thing that popped into my head." "What do you think it means?" he asked. "Well doc, I didn't realize it at the time, but now I think it has powerful implications for my trading. See doc, there's a lot of amateurs in the market trying to beat the Street pros. They don't have a chance doc. I was an amateur once. I still am sometimes, but more and more I think I'm a pro. I've takern some action even. Just this month I signed up for the Market Gems Trading Room." "What means a trading room?" asked the doc. "You trade maybe recipes or baseball cards?" "No doc. We trade ideas about the market, and get "alerts" and buy and short triggers. We talk to teach other. There are some pretty fine traders in that room doc." "Mmmm" said the doc. "Continue." "There was another scene in "The Hustler": Newman and Charlie show up at a pool hall in New York, Ames I think the pool place was called. They've driven all the way from Oakland because Newman wants to play Minnesota Fats(Jackie Gleason) who's the best pool player in the country. He's trying to win ten-thousand. Newman shoots pool alone for a while. Gleason walks in at 8:00 sharp. Newman and Gleason shoot pool; first for $100 a game,then $200, then $1,000 game. After 24 hours Newman, tired and drinking his JTS Brown out of the bottle smirks and says to Charlie, "How much we winning Charlie?" "Eighteen thousand Eddie. Let's go. The game's over." "The game's not over till Fats says it's over. Is it over Fats?" Gleason (Fats) looks over to George C. Scott who's backing Fats, and is 18 grand in the hole. Newman says to Scott "Mister, I beat him all day, and I beat him all night. I'm the best. And even if I lose, I'm still the best." Scott says to Gleason, "Play him Fats, he's a loser." Charlie says he's leaving. "Gimme my money" Newman demands. Charlie gives him the money. He and Gleason keep playing. A few hours later Gleason has all the money and says "The game's over." "So what do you think it means?" asked Kronkite. "Newman was up 18K.He never should have left that pool hall with less than 15 K. If he was a trader he'd have protected most of his profits with a sell-stop. He'd know the importance of money management. "What else?" asked the doc. "Newman kept playing when he was tired, out on his feet. I think traders do this too. They trade too long, get tired. It's happened to me. It doesn't happen much anymore. When I feel exhausted or tired or the numbers start swimming and I find it hard to concentrate...when I've been trading for several months without a vacation...I get up and walk away." Suddenly I was awake, the doc brought me out of the regression. "So how'd I do doc?" I asked. "You did fine" he said. "But our work has just begun. I must regress you back further, find out why you chose "The Hustler"."" "What hustler doc?" I asked, confused. "We'll talk more next week. Lots work we have to do. You're a snake-pit of deep neuroses. But I'll fix you up good. I'm a specialist you know. Maybe we'll go back to your teen-age years. That should be fun." "My teen-age years! Doc, that was awful. Once was enough believe me." "Your teen-age years it will be. Your reluctance to go back tells me that that's where we must go. You want to be a professional trader don't you boobeleh?" "Sure doc." "Good. See you next week, same time." "Thanks doc." Lee Kramer