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Strategies & Market Trends : NetCurrents NTCS -- Ignore unavailable to you. Want to Upgrade?

To: CharlieChina who wrote (228)	10/3/2000 6:21:07 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 8925

There has always been a way to skin the little trader, it just gets more sophisticated. Difficult for me to say where I prefer to be, "behind or infront of the TA traders ..." I'll telya what I do, if I'm in a position my stops are ahead and if I'm looking to enter my entries are behind. But I'm just a little guy and even I can figure out where the numbers are as a rule. Does not take a Cray SuperComputer to determine where the crowd may be. I think in the big markets (the Futures, the Cash Indices), there has always been a war chest of big money. No matter what you and I do we are always on the lookout for big programs to hit. There is a great rumor about what happened to Vic Niederhofer which tells the tale. Evidently the guy was Long his eyeballs and they slammed him all day October 27th 1997 and early October 28th until his clearing house, Refco, threw the towel in with a "No Mas" and then one of the biggest rallies in history rocked the house. Neiderhoffer lost roughly 450 million, give or take a buck here or there. They pounded the daylights out of this guy because they knew they could. Hell, I was Short myself and I did not even know who Neiderhoffer was. But I agree; there is a program bullet out there with my name on it and when all else seems like a lock that's the time to be careful. There are no absolutes in this. TA can be blasted just as easily as anything....protecting capital is more important than making profits, to my way of thinking. Anyway, I do not disagree that is a guy/gal out there with the next killer trading system. I just hope you and I can slip in and out quickly enough to make our Happy Meal at McDonalds.