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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: excardog who wrote (186)	2/23/2001 4:29:56 PM
From: The Ox	Respond to of 23153

Margin seemed like the best way of maximizing my $ for a short term trade. I've taken many a loss doing similar transactions. The key is to cut your losses before they mount up. If the wind is blowing too hard, find some shelter. As a rule, I don't allow a margined positions to go against me for more than 5%. There will always be another opportunity to try again if you don't get too cute.

To: excardog who wrote (186)	2/23/2001 4:39:04 PM
From: jim_p	Respond to of 23153

Scott, Actually I'm going out and doing a 12 mile run first, then I'll hit the hard stuff. Vodka with a little tonic on the bad days. On good days it's a nice bottle of chardonnay. I know what is meant by a "gut wrenching day". I can feel the acid build up today. I turned off CNBC and stopped watching the computer for several hours today also. Came back in time to pick up some 18 15/16 ACTM, and sell the ISSI I picked up earlier in the day. Sold ISSI early, but it was still a profit. It was a lot more fun buying oil stocks at the bottom when they were selling at 2X cash flow, then averaging into tech stocks on the way down. Still have all of my margin power if needed. Have a great weekend, Jim