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To: freeus who wrote (3520)	9/6/2001 10:31:22 PM
From: mishedlo	Read Replies (1) \| Respond to of 13815

Freeus - Just checking in. I have just been holding my own which is piss poor for a bear but better than being long. Up perhaps 15-20% the last month but a poor performance given my bearish attitude. All my plays have been small. You know what? It might have led to clearer thinking. I have taken so many profits of just $100-$200 you could not believe. Buying/shorting small numbers of shares. Commission costs extremely high. BUT... portfolio keeps growing. I simply refuse to let almost any profit turn into a loss. Once I have a gain, even if it is $100, that is it, it simply will not turn into a loss. I have passed up some huge gains because of this BUT I have saved my ass on what could have been big losers. Options need more room and I take profits before adding new stuff. I should have kept them all and added but every time I have been greedy and wanted too much I have been punished. I see the trend here however. The clear trend is DOWN. Once the clear trend starts - stay with the damn thing. I lost my ass in Apr May June on options cause there was no trend. BUT I always have preserved my initial capital to fight another day. Learning a lot in the process. I can not believe you are down 90%. I am hoping that is an exaggeration. It is a mistake to try and get it all back at once. This "traders market" will last for at least 2 more years. Big upswings and huge downdrafts. The trick (and a very hard one is to catch the turn). April was clearly the peak, but stron down turn did not happen until last month. In between it was all bullshit trying to sucj in every $ with bottom is in calls from the market. It succeeded. Once that was done and no more $ to chase down again we went. We should be nearing a local bottom IMHO. Do NOT expect stocks to get back to where they were. If we get 50-100% feom this bottom well that could be it. Unfortunately the bottom may not be in. Miss the bottom an perhaps all that is there is 30-60% but that is enough for me. Then we wait for more shorting opportunities. If you can not or will not play both sides then you will continue to lose $. Best of luck to you. M Mish