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Pastimes : ASK Vendit Off Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: freeus who wrote (18981)	2/16/2001 7:11:06 PM
From: mishedlo	Read Replies (2) \| Respond to of 19374

Freeus, your problem in a nutshell is that you are chasing whatever looks good. I was somewhat miserable yesterday at reloading my PUTs too early yesterday. Lo and behold ..... I was fantastically rewarded today. By the time you see a move in this market, ESPECIALY ON THE LONG SIDE, IT SIMPLY MAY BE OVER! Please write this down. DO NOT CHASE!!!!!!!!!!!! WalkingShadow, any comments? M

To: freeus who wrote (18981)	2/16/2001 11:21:49 PM
From: Walkingshadow	Read Replies (2) \| Respond to of 19374

Hey freeus, Very happy to hear you closed the Utah deal! << V.V. missed this one and did not tell us to get out and go short yesterday. >> There is no way anyone could have forseen the PPI. None of the economists who make a career out of these things even anticipated it. I don't think there was anybody who wasn't blind-sided. News has a way of causing a sudden overreaction in a market, but overreactions have a way of regressing towards more reasonable conditions fairly rapidly, just as quickly as reason and cooler heads return. At times like this, I think it best to take a deep breath, try to put your emotions in check as best as possible, and as coldly and disinterestedly as possible look at the facts, not the judgements, being equally prepared to see bull or bear in those facts.....in other words, indicators that have no emotional overtones at all. One hard, hard lesson gleaned from last March is that you court disaster when ignoring objective indicators in favor of subject gut feelings (i.e., greed or fear). I wish you all of the best...... WS