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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Ron McKinnon who wrote (27365)	12/20/2000 12:44:06 PM
From: DCzzzz	Read Replies (1) \| Respond to of 53068

I'm with you Ron 100%. Just think of the tax cut the federal government could afford AFTER paying off the national debt.

To: Ron McKinnon who wrote (27365)	12/21/2000 12:10:42 AM
From: Nemer	Read Replies (3) \| Respond to of 53068

Fishyman .... >>>>> maybe I'm old fashioned (or just plain old) you don't know from old .... I've got socks older than you .... ok ... mebbe not ... hehehehe This time consuming and boring post is for the thread .. not at ANYONE I've learned a great deal in the past from the Z and I'm here to lecture NOBODY ... to pile guilt or anything negative ... but just to relate a lesson I learned a loooooooong time ago from the greatest equity picker I've ever known, one who spent a large amount of time being patient when I became irritated for slow and arduous lessons, one whose instructions have worked through the years and made me fairly well up for this year ... and many other years too .... enough of the preaching ... this is a simple example to read ... IF you choose ... if you don't chose, or hit the "next" button, that is ok too ... Picture the neck of a dino ... the one with the jagged "mane" ... don't recall the name, sorry ... when this dinosaur holds its head about 30-40 degrees, this "mane" will show what a "good buyitholditloveitkeepit stock" looks like in the daily performance of going up to make the holder money ..... some up, some down, some up, but lots more upwards than downwards and steady higher movement ... ok. ... Dad told me ... do you have that in your mind, son ? yes sir ... then he told me to think ONLY of buying ONLY after the first of these "steps up the mane" had taken place ... and once I was long ..... never ever ever give back more than 10percent of my profit ... if the steps slowed and started to level off and even head down ..... TTMAR ... course he didn't say TTMAR as I learned that one here on the Z ....gggggg AND this works just as well in DOWN markets .... just turn that dino upside down and have it pointing the other way .... same deal ... wait til several steps have been taken ... sell short and don't give back ever ever ever more than 10percent of the profit made ... now when this legnthy or even short time of ownership of the stock has "made its run" and it starts to go the other way ..... get out when 10percent of your profit has vaporized ... there is ALWAYS a trend to the market (in those days ONLY the DOW, no Naz) .... try to take 60percent of the profit of ANY move, be it up OR down .... don't worry about the first 10-20 and don't worry about the last 10-20 .... concentrate on THAT MIDDLE 60 .. so here is what I offer to the Z thread ... for I've uttered these very words in the past on here ... and as I said, no lecturing .... just what I was taught that has served me well ... let the move go 10-20percent into what you "plan" for it (I had to be my own analyst in those days and base my opinion on fact ...FA and TA both together) ... anyway ... let the move get started ... let it get finished ... and even give it some leeway to head down in the middle or toward the end or even at the start, but NEVER more than 10percent ... never give back more than 10percent of what the mkt has "given to you" ///// AND just in case I was wrong and picked one which headed in the WRONG direction out of the gate and there was NO profit ... not to ever lose more than 10percent of what I had bought ... take the loss QUICKER than the profit ....not to wish .... use no emotion .... just use logic, facts, intuition, but NO wishing, hoping OR guessing.... btw ... back in the old days, when I learned this stuff the mkt had a lot less movement interday or even inter weekly .... and Dad taught me starting on 5percent and later 8percent and later in life "stretched it" to 10... 10percent nowdays is very strict ... actually I use 25percent as a rule now ..... but the lesson is still valuable .... Peace and I sincerely wish for all my Z buddies a Merry Christmas and a Glorious New Year ..... T