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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (72580)	3/18/2001 1:00:28 PM
From: KymarFye	Respond to of 99985

cash is beautiful, has been for many months... For me, the main effect of the alteration has been on holding periods: Long isn't "wrong," it just tends to be right for smaller and smaller periods of time. (Short, too, in such a gappy, jittery market: The Nasdaq is just too darn ugly to take home for the night. I miss out on a lot of continuation profits, but I sleep better and start every morning fresh and open-minded.) When I play a bounce on the long side, I take any profits a lot faster, and do the Monty Python "run away!" routine often as soon the downticks start to accumulate. When I get in on the short side, I'll accept a position going against me further than I would under other conditions - though the action on 1-03, when being short would have been a very reasonable thing for a short-termer trading with the larger trend to be, and would have gotten you moidahed, stays in the back of my mind. Even amidst the Nasdaq slaughter that began way back last Labor Day weekend, I've done about as well on countertrend long bounces as on shorts. Part of the problem is no doubt my clumsiness, another part my reluctance to chase stocks running away from me in any direction, which lately, of course, has been DOWN. Another part is the bias toward the long side as embodied, e.g., in the uptick rule. Still, every time a JNPR or CMVT or CHKP starts speeding upward beyond even any reasonable squeeze-itude, through I wonder how it's even possible anymore - "Is this the last ever burst of tech-mania?" I ask myself - I don't question the money if I'm successful in taking a piece of it home.