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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Skywatcher who wrote (35530)	12/1/2000 10:48:20 AM
From: James Strauss	Respond to of 50167

Since the start of October both you and Ike have been dead wrong...as I stated than...OJ was dead ON...I wish it was different...now ruined. Chris: Don't hold back... Tell me how you really feel... : > This has been a tortuous market, further exacerbated by the extended election uncertainty... What I try to do is plot out various support and resistance areas... We've had 5 years of reliable support confirmations... Unfortunately, this year we were thrown a few more curve balls... What it meant was needing to be more alert to the possibilities of downside surprises... Proper protection via cash and puts helps protect one's capital during these BEAR periods... We've also seen (1987), that a BEAR market can end much more quickly in this time of instantaneous information flow... Right now I have the NDX support target at 2300, with downside surprise support at 2000... We came within 126 points of that yesterday on heavy volume... On the upside I'm looking at NDX 2800 as the place to cross to confirm a bottom has been put in place... I wish I had a crystal ball or one of those Early Edition papers with tomorrow's headlines... : > But, I don't... So I do the next best thing... I become as knowledgeable as I can about technical analysis and the markets and I read Ike's posts very carefully; sometimes twice... : > Jim

To: Skywatcher who wrote (35530)	12/1/2000 10:58:47 AM
From: Peace	Read Replies (1) \| Respond to of 50167

Let me start by saying that this is not targetted to anyone in particular. No one is right all the time. Everyone has a right to their opinion. Elaine Garzeralli called the 87 crash and was branded a guru. She has been cold since then. Everyone should make their own decisions. If you followed someone who was right good for you, but if you followed someone who was wrong you have yourself to blame. I listen to every view but I make my own decisions and I never blame anyone for my portfolios performance. If I acted on someone else's opinion then essentially I agreed with their view and by acting on it, it is now my view. So the blame goes to me. Unless you are paying somebody to manage your portfolio you have no right to complain. Peace

To: Skywatcher who wrote (35530)	12/1/2000 11:16:38 AM
From: IQBAL LATIF	Read Replies (5) \| Respond to of 50167

<<Ike have been dead wrong>> I agree, I am totally invested, would remain so and have added positions all through this sharp drop by money made on options trade. My strategy will work as time is on my side, I never bought more than what I could sustain and was able to live through this haircut. The bears have to cover and I will see my levels back...my breakeven is now around 3278 some 500 points away ( from Oct this breakeven has come down from high of 3870), that I am sure will come back like 1328. This time is different, may be for very short term investors, those who can throw the whole portfolio out in 15 minutes and buy back in next 15, those who are short one minute and long the next. That is not my ability I am long and will take this pain and this selling. I hope we hold on well, if one does not maintain huge leverage and does not play beyond one's means one would be alright..I have never before or now conceded that market fundamentals have changed, in my opinion 'it is a severe extension of a overreaction' but this economy is in great shape and the earnings are now far higher than 1998 levels where we now stand, the rev to price ratio with growth stands at a level that is going to explode, it may take a retest of 2200 but we are going to see our levels. Right now we are humbled, beaten and tired but we hold our positions and others have borrowed stock to cover, lets see who wins..the battle is lost like in July 1996 Oct 1997 1998 but the war is not yet over.. I hope that this pain ends. However like gains were no big deal to see through the pain is the art that market teached me hard way every year. This is a part of my learning strategy. Every serious investor is going through this pain, other than CW of SI where everyone seems to be in cash the present fall has hurt people, it is the ability of a person to take the hit that distinguishes a weak hand from strong hand, that is the lesson I have repeated in last 4 years 100 times if that is lost it is a great regret.. fwiw