To: Stephen M. DeMoss who wrote (67531 ) 1/23/2001 11:15:06 PM From: KymarFye Respond to Stpehen: Got hit right in the shorts this AM (guess that's what you get for spending the night with Bobby's girl, plus she broke the bed and now my dogs are angry). Recovered on the long side during the day, but, like you, mostly settled for scalps. But, shoot, the worst trouble I've gotten in since I started trading was from pressing trades too hard and letting them come back on me, or entering a trade for one reason then deciding to stay in it for some other one. There's always another trade... and you can make as much money from a bunch of little ones on a nothing day as from one big one on a major day - it's harder, but it's more fun... isn't it? I don't know... Anyway, your scenario - follow-through surge and pull back - sounds about right, anyway it's possible, unless they've already eaten dinner in after hours and the cold leftovers will get chucked off the table after fifteen minutes tomorrow morning, like last Friday -though not what I expect, not this time. Am guessing, without even looking at the charts or the latest futures or anything, that it'll gap up over resistance, and I'll be glad I held one position overnight (the Nasdaq's getting prettier than Bobby's girl, pretty enough to stay overnight), but will wish I was Joe New Investor who was watching TV the first week of January and said, "Gee, this looks like fun. Think I'll buy some tech stocks with my inheritance, and see what happens." Oh yeah, the third thing that gets me in trouble is thinking, I think. Part of the info-overload thing you describe: Maybe it's better to have music on than CNBC (note to self), take EVERY signal, and, most of all, absolutely ignore ANYTHING and EVERYTHING you ever read on any message board no matter how smart or funny or scary or exciting or reasonable or logical it looks.
