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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: Paul A who wrote (25149)	5/26/2001 7:33:57 PM
From: DlphcOracl	Respond to of 37746

Paul A: I am bearish for the month of June. I think earnings warning season will temper investor enthusiasm and renew fears of a prolonged downturn in the technology sector, one that will not resolve itself by end of year. I also think that investors will "work through it" and the market will resume its bullish tone in July and August. I was hoping that momentum would take NASDAQ up to 2500-2600 by the second week in June, but I do not think it will happen -- hence, my bailing out of tech. I am still holding non-tech stocks and will look to repurchase the UOPIX shares by the end of June. My hope is that the earnings warning panic will take NASDAQ down to 1900 -- I would begin buying back at that level.

To: Paul A who wrote (25149)	5/27/2001 9:48:22 AM
From: Sharck	Read Replies (1) \| Respond to of 37746

Hi Paul, I was surprised to see you mention that stops simply dont work.. FOr the last 2 years I have never entered a trade without putting a stop in 2 seconds after the purchase. I used to rush in with a tight stop too Paul, only to have the MMs take me out and miss the run. However, if I am trading a momentum play, I do have a set up sell order 2 seconds after I buy, (sometimes with 2X the amount of shares so with one click I can grab a scalp and be short on the expected pull back. Not every play is the same of course, but in general, hard stops have not worked for me. When would I use one, ok let's say I grab stock X, and the stock moves up 2 pts and according to the charts it may meet some resistance but futs are still strong and I believe the stock may run further. At the same exact same time "Sharick" decides its time to walk his master. Yes, then it becomes a coin toss, either sell and get my walk, or place a tight stop. Another opportunity to use stops is when on vacation. Since you can never predict what could happen while away, stops would be a degree of safety that I would implore traders to use. I owe ADSP the world for kicking me hard enough to cut that crap out.. Were you on Tonys site during the ADSP? If so you may remember, how we worked around the clock on that weekend. I even had a friend visit their office to ensure absolutely they were NOT a wireless play as erroneaously stated on CNBC. Yes it scared the bejesus out of many, quite a learning experience that was.... Im a very unlucky person by nature... I think most traders do what comes naturally, and that is to sell when others are selling and stating doom and gloom, and buying when others are euphoric. This is natural and a hard pattern to break. This does not apply however to trends and money flow. My only point is that I do not believe in luck. I do believe in human nature, greed, and all things that can be exploited. This is the part of trading that I enjoy most. I put all my money long on jb-oxford- JBOH? at like 2 bucks.. It shot up to 10, and ameritrade went down.. I remember that day well, and was up 86 Gs myself on COOL and EGGS for all of 15 minutes and couldn't get a broker on line.... finance.yahoo.com That was quite the times huh... Remember BAMM too finance.yahoo.com Your strategy now is superior in my humble opinion. Make small gains and proper allocation and over time this will be prove to be the most rewarding path... I do wish you well. S

To: Paul A who wrote (25149)	5/27/2001 2:24:50 PM
From: Goodale	Respond to of 37746

Hello Paul, You seem like someone who learned his lessons well from experience and the school of "hard Knocks". If you don't mind I for one would be interested in some recent examples of your trades and/or current positions. I sense you're overall bearish but it you have any insights on the current market direction - would be delighted to hear that also. Thanks A bit rainy here in Michigan right now but still headed out to my brother's place for a barbecue. He always like to grill some great spare ribs and those big shrimp :) Have a great Memorial Day week-end everyone and remember those who made it possible.