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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (58554)	1/17/2001 11:02:03 AM
From: Lucretius	Respond to of 436258

buyin some poots on the dow... this too shall pass and destroy all clowns...

To: AllansAlias who wrote (58554)	1/17/2001 11:43:40 AM
From: Perspective	Read Replies (2) \| Respond to of 436258

I don't know about Luc, but the stop loss provisions on my half-hearted position were pretty much all nailed this AM. I clearly underestimated how much money the sheeple were handing over to their idiot fund manglers. Amazing. The Bubble lives. It makes me nauseous to think that I might have to endure another entire economic cycle of this crap. The psychological shift is dramatic, and if it lasts long enough, it could prevent the necessary cleansing from ever taking place. That said, I still doubt that we'll have to wait too much longer before something unexpected gives way. Every Bubble implosion follows a similar path, and they always appear to have everything under control until the very moment that it flames out. And this taught me (yet again) a vital lesson. While funnymentals give you an idea of the potential direction of a trade and can help divine long-term trends, ENTRIES AND EXITS FROM POSITIONS SHOULD ALWAYS BE BASED PURELY ON TECHNICAL FACTORS. I had very many profitable short positions erased just now because I was foolish enough not to grab the shares back in a market extended to the downside. The entries were (mostly) great, on wild upticks, but because I thought the economy dumping into recession would produce more down, I didn't grab the money and run. Stops are triggered. Unfortunately in the process of whittling down from a 40% short position to 20% short. Did half at market, entered the remainder at prices 5-10% below market, believing a minor pullback is >50% likelihood. Pullback could very likely find support at the resistance lines broken this AM. I think the market has enough liquidity and momentum behind it to break the SEP-NOV downtrend line, producing the 8-14 weeks of sideways/up we've considered in the past. I won't buy this crap - asolutely nothing constitutes an "investment" here - but I'm just going to maintain a little BK insurance and wait it out. A test of 3,000 on COMPX is a distinct possibility. Seasonals will turn unfavorable in March, April, and May, so I'll probably look to fade rallies in late Feb. I may find myself re-entering these same positions at poorer prices in the near future, but these are trades gone wrong for me. Time to regroup, take some time off, and wait til this peters out. If the down we expect ever does finally arrive, it will be around for a long while. Just having the good sense to short a few things rather than buying the dip into oblivion will be a huge advantage over the Clown majority. BC