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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Bosco who wrote (7030)	11/1/2000 12:14:40 PM
From: Logain Ablar	Read Replies (1) \| Respond to of 30051

Hi Bosco: In a classic understatement its been a tough market. If it was easy everyone would be trading / investing and not working in other areas of the economy. I’m not as fleet footed as you think. I don’t day trade although on a couple of occasions I have been in and out of a stock within a day. My style is more position trade but I do utilize stops. In this market, in just about every position I’ve been stopped out. In most cases I’ve been able to move back into the same stock at a lower level (and example is CMRC which I’ve been in since late August, I’ve been stopped out 6 or 7 times and each time except once I’ve gotten back in @ a lower level). I do try and buy in on pullbacks near where I think the bottom is. In all cases the bottom has proven to be lower than I thought. Either the MM run stops to drive it down or something else happens. Anyway I’m still expecting this rally to have legs and since it started so late maybe it will run past the election. Notice how we didn’t have true capitulation. Can this time be different and the markets set new highs. I think Zeev is right this won’t happen but we can still rally for a while b/4 testing the recent lows. Doesn’t mean certain stocks / sectors won’t see 50% moves even from this level. Its still a stock pickers market. If the soxx doesn’t break out but breaks down I’ll be in all cash (except for my interest / dividend positions) since the soxx would take the naz down to new lows. Tim