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Strategies & Market Trends : The Amateur Traders Corner -- Ignore unavailable to you. Want to Upgrade?

To: The Reaper who wrote (11487)	7/9/2001 12:13:59 AM
From: Paul A	Respond to of 19633

Im a 'face your fears' kind of person.. : ) CCMP was actually one of the first times in quite some time that I really got rubbed the wrong way.. The last 6 months I have been laughing my butt off because even worse case scenarios only have mesquito bite effects on my account.. of course my gains are much smaller as well, but the idea for me was to cut back on thinking about where the futures are, where tomorrows gap will be, and cut out that emotion that makes me do foolish things.. and the small gains keep adding up, but whats missing is the silly trades that would sometimes cost me 30% of my account like ADSP which almost put me straight into bankruptcy.. so anyhow- all this babbling had a point.. and that is, I have to treat CCMP like any other stock.. Once Im in and I have a strategy I can curse at the screen and show incredible disbelief when it defies gravity- but it should get no more/less attention then RBAK or MU and with Fridays short, I shorted at 55.60 which will be a hit or miss.. I picked CCMP simply to help hedge my account since IM a little heavy on the long side, and CCMP cant harm me either way really : ) Im also very familiar with how it trades, so it was smart in that respect to face this one again.. Ill be out of it by Monday or Tuesday, win or loss.. but I WILL start taking a position just before earnings.. Just not a good price/market to consider starting that so I just have it as a trade now.. I think CCMP has alot of things going for it that make it a bit of a 'special case', and so it makes sense that people would put money here if looking at the group.. I covered my big (too too big) position in CCMP about a week ago at 54 or so, and the next day it shot up to 62.. Pure luck.. but also, I had a stop at 61.50 and would have taken a sizeable loss because of my temper had I not covered. This time I got lucky- damn lucky.. but it blew me away how easily I fell back into that trap- the trap like that sunday night after drinking all weekend, visiting websites about asset protection and bankruptcy laws.. my friend convinvinced me to see 'end days' and I made it half way thru before feeling so ill I had to go home and there I sat watching the futures till 9:30am. ADSP.. Emotion is my demon and its here to stay.. its either figure it out or walk away.. I never really believed making calls of a stock rising or falling was really that difficult.. With what little I know now, and especially what little I knew some 2-3 years ago it was never hard to be right 70% of the time.. but what nobody every warned me about was the demon in my head.. the emotion.. the anger.. the frustration.. pride.. All those voices that say ' ah screw it, kill the stop loss and see what tomorrow brings..' or ' hold into earnings! put it all down on the line- hey, lets pull out the calculator and see where I am if I get 3 points!!!' and last but not least- Ill go long CCMP if it drops below 30.. I have no problem with the management, or their business.. I just think the price tag is way out of line and one day real soon its going to have to adjust.. but its crowded as all hell- both long and short.. and until that breaks its nothing more then a trading vehicle : ) ...somone put a nickel in me tonight.. sorry!