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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (45284)	7/30/2001 12:23:21 AM
From: Trader J	Read Replies (2) \| Respond to of 56537

AJ: I completely agree with your financial assessment of many people. I think this most recent market cycle has brought that to the forefront for many people. There was so much wealth that was created and so many people took it for granted and didn't take steps to secure what they had. Heck, I lost quite a chunk over the past year .... but during the run we made sure that we kept the trading account in a particular range, and paid off the cars, put 20% down on our new construction home, bought furniture for the house, donated and gifted some, funded our emergency fund, opened multiple mutual funds, and bolstered the long account. Doing these things locked in the gains to a point, and made the past 12-18 months far less painful. But many have to learn these lessons the hard way ....... but unfortunately, the older we get before we learn these lessons the harder the lesson .... with more at stake. J

To: ajtj99 who wrote (45284)	7/30/2001 3:51:23 AM
From: LTK007	Read Replies (3) \| Respond to of 56537

aj wrote<My dad's parents lost several houses in the Great Depression, including one instance when they moved across the street. He never forgot that experience. It affected his financial dealings the rest of his life. As a result, he's been fairly comfortable and had pretty successful kids as well.> i write-- my paternal side grandfather lost his construction business post 1929 ,my dad went from being in college to working a 12-hour graveyard shift in an oil refinery for 30dollars a week. we who have parents that went through the Great Depression are heavily educated to it's brutal reality.But many of those younger than i have no concept of what hardtimes are really like,they have just this vague idea that there was this event called "the Great Depression" and have been basically made to memorize "it will NEVER happen again" and live life in sense of safety. We,have in the main,a sizable part of our population that don't have this concept of HardTimes in their memory banks,and they are likely to be learning a bitter lesson.Max p.s. as a result of my upbringing.I have always been able to not have something if it could not be paid for 'cash-on-the-barrel-head' and to never be behind in mortgage payments. I have one strong point at this moment in time.I have zero debt,and own my properties outright and have never ever thought of refinancing and stuff like that. I have never hesistated to go without rather than be carrying a debt,aside from mortgage payments. Why??? My parents were young adults during the depression,and they taught their children well,by in large.Max

To: ajtj99 who wrote (45284)	7/30/2001 6:04:37 AM
From: LTK007	Respond to of 56537

aj,i have over the year found E-Wavers to be boasting cultist,who whenever they make a horrendous call,they NEVER refer to it.But if they get something right,they goes bananas. They have been calling wave 3 for months now,hey what BS---so i post this e-wave propaganda to see how this call works out.(the old.if they were wrong 4 times in row,but get the 5th time right,everybody who were not aware they were wrong the 4 previous times are told they DID it!We NEVER miss---and the fish are hooked) Also this fellow is pumping his web-sites--basically i think e-wave pumping is somehow to get you hooked to some "for a price site". BTW.i remind E_Wavers were GURANTEEING in January that NASDAQ would hit new alltime highs in March ,2001(LOL!) I consider E-wave to be BS,and those who fell for it in January got buried,bigtime. I don't trust ANYTHING that has a bunch of preachy followers.Max p.s. here is "gem-x" latest prediction(by the way he guranteed wave three several times before ,incorrectly.<<To:iowamann who wrote (26) From: gem-x Friday, Jul 27, 2001 4:10 PM View Replies (1) \| Respond to of 33 This is a wave 3, but the start of wave 3's begin with over blown pessimism, sideways movement and a fear that the former lows won't hold. This is just the beginning. wave 1's wave 3 = Wave 1 was 1935 to 2105, wave 2 was 2105 to 1939, so an August-Sept rally could be huge. I was right, but picking exact times when they start is very tough. My options expired worthless on july 21. but I plan on buying Sept QQQ calls and RFMD Sept calls.. RFMD is headed towards 35...damn if only that wave 2 didn't last so damn long.. >> end quote

To: ajtj99 who wrote (45284)	7/30/2001 6:22:09 AM
From: LTK007	Read Replies (1) \| Respond to of 56537

NASD futures have been getting inched upwards,started at minus 10,they are now plus 16--looks like a gap-up in the works but it is STILL early--6:19am. The general sentiment seems bullish on premise that matters held up during horrendous earnings phase and now all will be up going into FOMC(that is the overall tenor). I am feeling contrarian,sounds too pat for me. But charts are as confused as they can get---super congestion. But if today is strong my ADX pattern would shift to upward trend,i think--let's see what shows on the EOD.Max p.s. charts so mixed i am reduced to a "psychic call"---i say bulls are wrong about this week as i still don't see a catalyst beyond wild speculation that the tax rebate will juice the market(but that could be enough to get buyers in) and be grounds to pump and then dump.max