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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (16752)	9/19/2002 4:18:45 PM
From: Tim Bagwell	Respond to of 42834

Kirk, I agree that the "don't sell on weakness" principle applies to long term positions. For short term trades, it only applies if you are in a bull market and if your trade is based on good information. IMHO. None of this applies to Bob's QQQ trade. It was not a long term position. We were not in a bull market. And Bob has agreed that the trade was based on wrong information. Once he realized his error and knew that his assumptions, whatever they were, were wrong then at that point he should have exited the trade. We all know that two wrongs don't make a right. Turning your short term trade into a long term position is not addressing the problem. Time is not your friend here and trading time for bad judgement is folly. It's really the worst kind of advice that anyone could give. Bob should be ashamed of himself for trying to pass himself off as a knowledgeable trader. His actions betray him.