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Strategies & Market Trends : Ask DrBob -- Ignore unavailable to you. Want to Upgrade?

To: FLACK who wrote (7123)	9/30/2000 7:57:31 PM
From: flyeguy99	Respond to of 100058

Flack should write a book, "In fact, I believe that the thinking trader is eventually a dead trader." I agree, by the time you think what you are going to do, someone else already made the trade while you were thinking about it, if it was a good trade to begin with the stock is going the other 'your' way and you are out of luck, all the thinking, analyzing and charting comes after market hours, once the bell rings the only way to make money is by instinct, those are always the best trades. Fly

To: FLACK who wrote (7123)	9/30/2000 8:08:27 PM
From: broadstbull	Respond to of 100058

WOW Flack Great post, I agree, I am more successful when I trade stocks that I know little about. There is no second guessing or emotional attachment when the need to exit arises. Do you mind if I post that over at the Bull Haven board?

To: FLACK who wrote (7123)	9/30/2000 8:57:33 PM
From: antiquites	Respond to of 100058

FLACK, You truly live in the "mind" rather than the "spirit" don't you? If I only could do this I could be a zillionaire. I envy you, truly I do. You are that rarity among mankind. You have my admiration.

To: FLACK who wrote (7123)	9/30/2000 9:14:20 PM
From: jkl77™	Read Replies (2) \| Respond to of 100058

flack,,,, you sure you haven't read elder's book???? excellent post,,, ô¿ô

To: FLACK who wrote (7123)	9/30/2000 9:27:12 PM
From: shoreco	Read Replies (1) \| Respond to of 100058

FLACK..Re:Trading with emotion.... That was an very impressive post. I don't post much, but I do lurk on a regular basis, I must admit I never shorted a stock until I started following the DrBob board. I have learned to trade both ways and I'm even learning to hedge a position I hold w/options,long or short. Yes,I am the CMGI follower who has lost a ton of money on CMGI,"may I have it back please" LOL. I Traded in and out of CMGI since March, so I didn't get to feel the real effect of its crash but I did lose money, and yes, even I shorted it in the end for 4 peanuts. Thanks to all on the DrBob Board Shoreco

To: FLACK who wrote (7123)	10/1/2000 12:15:09 AM
From: 1newportbeach1	Read Replies (1) \| Respond to of 100058

FLACK: Amen. Love 2 Pan. lvbv

To: FLACK who wrote (7123)	10/1/2000 12:26:42 AM
From: eb1210	Respond to of 100058

Great post, Flack, nothing to add! eom

To: FLACK who wrote (7123)	10/1/2000 1:04:41 AM
From: iowamann, Spam Queen	Read Replies (1) \| Respond to of 100058

Flack, I agree with your post, but you knew I would have a slightly different take on some of it. First I'm with you 100% on get out of a losing stock. If that stock starts going the wrong way, get out. The easiest loss to take is the first loss when it is the smallest. Where I have a different perspective is what happens when a person doesn't follow this advice and because of some reason, fear and paralysis, or a market change so swift they can't get out of a stock and they find themselves holding an intel, csco, pcln, ebay etc. And writing the names of these stocks really confirms my belief. So what to do. Do you average down or bail? And I think the answer depends on 3 to 4 things. The first is what's the story on the stock you are holding and what are the chances of recovery. And that brings us to the second. What is the state of the market. Can more downside be expected. Which brings us to the third and that is how agile are you on getting in and out of stocks. And finally what is your time frame. What is our trading style. Now to shoot from the hip like I too often do. Let's look at Apple. If our time frame is sufficiently long we all know this stock will come back someday, but for many of maybe not fast enough. Maybe our money could be working faster and better someplace else. On the other hand it might make more sense to hold Intel and Cisco if a person isn't adept at getting in and out of a stock. These stocks are going to come back, it just depends on the time frame. Bottom line what I'm trying to say if somebody got beat up this last week on a reasonably strong stock, think about it and see if you really want to sell it. We've seen this market plunge 500 points one day on a record loss and bounce back the next day on a record gain. So if the stock is sufficiently strong and it's as good as choice as any hold it. Now if it is a strong stock and fund managers are buying it up because it is a good buy at current prices, why not do the same thing the fund managers are doing and buy more your self. Of course this is averaging down, but in essence if the charts and fundamentals look right, you are making an intelligent short term investment. However, I must concede if your stock is down because of its own bad fundamentals, and not because of extenuating circumstances than averaging down or even holding the stock is unwise. I also have to point out, the path you take depends on what kind of trader you are and your time frame. This is not applicable if you are a daytrader. But if you are a good daytrader, you should rarely find yourself in these circumstances. To be redundant, just don't sell a good stock if it is down due to overall market correction. Nows the time to be buying not selling. However before you act on any of this input, remember I'm a jack of many trades and master of none. If I had this market wired I'd quit my real job.

To: FLACK who wrote (7123)	10/1/2000 12:38:59 PM
From: theniteowl	Respond to of 100058

Flack, you've been thinking too much<GGG> thanks. eom