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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (37837)	6/14/2001 11:55:44 AM
From: Dealer	Respond to of 65232

Bits and Pieces from IBD's The Big Picture Thursday, June 14, 2001 Markets Close Lower But Volume's Muted Again Investor's Business Daily Stocks lost traction Wednesday, failing to capitalize on the prior session’s rebound. Retail sales matched expectations with a 0.1% increase. Without autos, the number ticked up 0.3%. And the government upgraded last month’s number, which improved from a 1.1% rise to 1.4%. Consumers remain in the economy’s corner. But stocks could only go so far with that bit of reassuring economic news or, for once, the lack of any major profit warning. The afternoon release of the Fed’s beige book of regional economic conditions reinforced the downtrend. “Most districts report that economic activity was little changed or decelerating in April and May,” the Fed said. Nasdaq lost 2.2% on Wednesday. (down 2.2% today. dealie) Big investors might not have been eager to build on Tuesday’s reversal. But they weren’t ready to trash the market with heavy selling either. Volume hasn’t spiked above average in almost a month. The hemming and hawing has left the major averages flat. All this rotation has proved challenging to investors who buy leading stocks as they break out of sound price bases. One or two might work while a couple meander. But it doesn’t take much more than a valuation downgrade to hammer some stocks. As always, the best defense is to cut your initial losses quickly. Don’t let any stock fall more than 7% or 8% from your buy point. With practice, you can nip problems even quicker and limit average losses to 3% or 4%. The goal is to be ready financially and mentally when the market really takes off.

To: Dealer who wrote (37837)	6/14/2001 12:49:55 PM
From: Sully-	Read Replies (1) \| Respond to of 65232

I'm sorry to hear that Dealer. It's always tough to take a loss. It seems that you kept that loss from getting worse though. FWIW, last time I checked, EXTR's June Max Pain was $25. <edit> OOF - you sold NEWP at a loss...... I must have crossed legs post to you with your move. NEWP's Max Pain was $35 on my last check. Sorry about that.<ng> Hey, we're learning & getting better. Right now I am scalping small gains & closing positions fast. I'd rather leave $$ on the table than be a bag holder taking a loss in this market. If the NAZ keeps sliding down, there will eventually be a rally to make a few $$ on. It seems the trend is down now that so many technical support levels have been broken. Be careful out there folks :-\| Ö¿Ö