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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (10931)	3/2/2002 6:10:29 PM
From: Gamma Positive	Read Replies (1) \| Respond to of 19219

"If I was judged by a daytraders performance than I would be a failure. But I am a position trader and not a daytrader." I do not consider a position put on nearly 2 months ago to be a "daytrade". Why do you even bring that up?? I was not pointing out any "glaring weaknesses", as you put it, but rather just the facts. More often than not in your recent (few weeks) posts, you continue to be bullish in the face of declining markets. If you are in it for the long haul, why bother reading daily indicators? Your demeanor in the face of bearishness is as poorly sighted as the bears' demeanor in the face of one of the mania bull run of the late 90's. What I take exception to is that you come out today and thump your chest when in reality the numbers show you have nothing to be proud of. Now, perhaps I need to go visit some "perma-bear" threads and knock some sense into them too <VBG>.

To: J.T. who wrote (10931)	3/2/2002 7:08:36 PM
From: nsumir81	Read Replies (1) \| Respond to of 19219

JT I agree with position trading but what did you see on 1/9 that made you go bullish especially in light of the fact that we had just pulled back some after an amazing rally and the charts did show some ominous signs in terms of a top?. You may have been trying to play a bounce I suspect, but got caught in a longer term downtrend. I totally agree with position trading (am one myself albeit not on the broader indices) but even from that standpoint, I think waiting for a rebound for so long (just to hopefully get even) is pretty long. Again that period is not long ONLY if considered RELATIVE to one's risk levels and OTHER positions/hedges etc. But as a take on the market and direction, that did seem long relative to the magnitude of the drop that ensued. Fortunately, the DOW held up relatively well holding others from falling through. Acceptable limits of position time frames can get expanded when trades go against us I think.

To: J.T. who wrote (10931)	3/2/2002 7:16:07 PM
From: nsumir81	Read Replies (1) \| Respond to of 19219

Its not daytrading in the conventional sense, but it is trading on a fairly short term basis... I agree Rydex readings are position readings but I have seen you get in and out many times within time spans of as short as 2-3 days (and quite often successfully). So the point is, why wait so long this time? I think, it is simply a case of playing a bounce and getting caught in a longer term downtrend and waiting, waiting for a rally to come out of it. You may come out of it again, I think.