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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: Shane Venem who wrote (10555)	10/23/2000 4:07:07 AM
From: davidk555	Respond to of 42834

Shane, I agree partially with you, but think one more point needs to be made. Bob initially discussed the trade as if it were for a wide audiance. When the QQQs never returned to the mid-70s, Bob emphasized that it was for experienced traders who should have figured out when to buy it at that level. As the QQQs rose, Bob praised callers who "did the math" figuring out that buying at 80, 81 would still net them a large percentage gain. Here is where Bob went wrong. Instead of providing guidance on the radio such as providing stop losses, or what to look for in terms of a number to get out, Bob clammed up and kept telling people that HE would tell them when to get out. He told one lady out of the country that she should just read his summaries on the site which would say when to get out. Perhaps you see where I am going with this, why should any "experienced trader" need to be waiting for Bob. I think Bob thought he could get everyone out of the trade properly. The other mistake was that if Bob is himself an experienced trader, why didn't he set stops when the QQQ rose to 100 the first go round? He didn't even mention stop losses until I saw it raised on another message board. Aside from all of that, you are correct in that he made a brilliant call in identifying the opportunity. No doubt about that.