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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Chris G. who wrote (46574)	7/21/2002 11:57:13 AM
From: John Madarasz	Read Replies (1) \| Respond to of 209892

I really appreciate any input or suggestions. I strongly suggest you don't base your investment decisions on the advise of an unknown alias from a public bulletin board. Take the time to read some unobjective commentary about the world economic situation, and consider study of some market technical analysis. It's pretty obvious to most of the people here that the market is much closer to some sort of intermediate low rather than high. Conventional rationale would consider making portfolio readjustments into market strength at this point, but i would take the time to read the commentary in this link. Notice the last paragraph in particular. Message 17734341 Finally, no disrespect intended, but you would be well advised to follow the courage of your own convictions and research. Don't make decisions because someone here tells you what they think you should do. You don't have to be fully invested in the stock market, or even invested at all in the stock market, to prepare for and enjoy a comfortable retirement. Best of Luck.

To: Chris G. who wrote (46574)	7/21/2002 4:46:05 PM
From: yard_man	Respond to of 209892

You didn't ask me specifically, but let me say something. Make your own decision and own up to it. There is a pervasive attitude being promulgated by the media -- investors are victims ... to that I say poppycock!! Make your own decision and live with it until you change it. The energy you expended to acquire whatever you had is energy that you expended -- you should take responsibility for how it is disposed. Count your loss from what you put in versus what you have now -- i.e. maybe you are not sitting on a loss, just have some profits eaten away by the last 18 months action?? if you elect to stay in stocks -- figure out a "stop" limit pt at which you will sell and preserve what is left. If you get out, don't look back fretting about some bear market rally that occurs right after you got out.

To: Chris G. who wrote (46574)	7/21/2002 8:13:50 PM
From: ajtj99	Respond to of 209892

Chris, John has some good points. The reason I suggested you sell now is because you seem to be the type of person who has held, waiting for the market to go up before selling, and then you keep holding figuring the worst is over with. I posted some snippets from some articles this weekend, and you may see yourself in them. When we trade, we set stop-losses. You should have a stop loss on your 401K also. If you do not, you could lose most of what you have.

To: Chris G. who wrote (46574)	7/21/2002 9:56:04 PM
From: whydididothat	Read Replies (1) \| Respond to of 209892

Most great traders/investors suffer significant losses in the beginning. My suggestion is that, like these great people, instead of reacting with passive resignation you become inspired to read & learn everything that you can about trading/speculating/money management. Looking at my bookshelf ... I think I would start with "Trader Vic - Methods of a Wall Street Master." Maybe others on the thread have better ideas? If you have a good head and put forth the effort, time and patience will reward you. I agree with the various comments about message boards. Fortunately, you are here on a very high quality board with sincere and bright posters. A fake will usually be exposed quickly here. But, always base your decisions on your own learned analysis of the facts. Finally, when asked "what is the most important advice you can give the average trader" Ed Seykota in "Market Wizards" replied "that he should find a superior trader to do his trading for him, and then go find something he really loves to do." Several people referenced Dr. Hussman's mutual fund & links ... he really is a very gifted and knowlegable fund manager (he has executed very well with his strategy of hedging away market risk) ... a rarity in that field.