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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: Nimbus who wrote (17184)	10/29/2001 7:18:47 AM
From: OldAIMGuy	Read Replies (1) \| Respond to of 18928

Hi N, I was trained in the school of Work Smarter, Not Harder. I've mentioned my favorite book - "The Man Who Was Too Lazy To Fail" - before. He's my idol. When my cash reserve is more comfortable than it currently is I usually don't enter my SELL GTC Limit Orders until the next time I update my prices (once a week in Newport). That's usually been fine. Right now I'm usually entering the next Sell order each time I've managed a sale. AIM suggests that the last person that bought from us was willing to pay X, so let's see if the next person is willing to pay X+. This goes on to infinity since AIM won't let us sell more than a certain percentage of the portfolio's value beyond the Portfolio Control number. I have a general rule to not trade in the opposite direction until the price/share has passed the 26 week moving average, but under extreme conditions as we've experienced with the WTC and general market I'll sell even below the MA to rebuild the cash reserve. Since I don't have an outside source of new funds to invest (I don't work for a living) it's necessary for me to regain my purchasing power as quickly as possible after such events. As far as selling out at the top and buying back at the bottom, the market never has told me when these times have occurred. If it announced these turning points I wouldn't bother with AIM. :-) Best regards, Tom