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

To: J.T. who wrote (13042)	6/26/2002 12:21:45 AM
From: Bull RidaH	Read Replies (2) \| Respond to of 19219

Thanks much... I built large gold positions in the fund last fall, and added on the way up. Was trying to tip you to the coming move, but didn't want to be pushy. Message 17306043 We've been short the broad markets almost straight through since last November, but hedge during tradeable rallies. Like you, I expect an important low to come in later this summer, with a few good swings to trade in the meantime. This is the forecast map i drew up about 10 calendar days ago, and will be using it as my roadmap unless we go ahead and visit the low end of the 900's in the next week. carolantic.homestead.com Best of luck with your upcoming website venture. Your work on S.I. had been some of the most interesting to follow since you began MITA, and has helped me to understand the psychology present in the market at any given time. As for the detractors, don't take it personal, as the quality of your work has brought them here. I believe the reason you received the flack is nobody, including them, want to see you struggle. Their negative feedback is probably a reflection of their frustration and disappointment of not seeing you knocking down the winning trades week in and week out as we had all had become accustomed to. Plus, your M.O. appeared to change at an inopportune time.... whereas you were a totally objective swing trader trading both sides of the market skillfully... a sudden about-face to a committed bull ocurred which shocked the MITA threadsters and lurkers... myself included. Did you have a drink of da_chief's Kool-Aid or sumthin?? -g- Jesse Livermore, after trading successfully both ways (Bull & Bear)for a decade, and successfully navigating the '29 crash, made the mistake in '32 of thinking the market couldn't go any lower, and plunged deeply into stocks, and uncharacteristically did not use stops. He lost his entire fortune and empire estimated at close to $100 million (which was a fair amount of money in '32). The Dow, after peaking at just above 380 in '29, collapsed to 41 into that '33 low, and destroyed nearly all perma-bull operators in the process. The Nasdaq 100 now only has a few more hundred points to cover to be down the same % amount. In relation to the Nasdaq, we're in a period very simililar to late '32 early '33, which was the phase that broke the backs of the remaining bulls. Jesse never recovered and eventually committed suicide. The moral of the story... No uni-directional bet can be allowed to run past a strategically determined point committed to before the trade or early on in it. Not that this is new info to you...But if a guy like Jesse can be taken apart by failing discipline just one time, any of us can... and will... if given ample time and opportunity. Best regards, David