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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (12825)	9/25/2002 4:21:11 AM
From: Dave Gore	Respond to of 16631

<I guess it is not to be from someone who is 100% bullish 100% of the time.> Ahhh, that is where you are really wrong! I don't like to short. Shorting is an art for which I have not spend much time practicing, but I am far from a bull. What I do is wait for the Naz or S&P to pull back to decent support through patience. I wait for good quality opportunities to come along for a "long" TRADE. In other words, I wait for the Reward/Risk to increase, usually because a decent quality stock has come way down, with the Market ready to stage a rally. Shorting is something I have never done much of. I admit I should have and I do get puts once in awhile. It is a mindset, which requires different thinking. But, make no mistake, I am not a bull. I am at best a temporary bull when the Market looks ready to stage a rally.

To: mishedlo who wrote (12825)	9/25/2002 9:38:46 AM
From: Dave Gore	Read Replies (1) \| Respond to of 16631

Mish, see what I mean? The Market was oversold and looking to bounce. Early yesterday was a good day to buy because the reward/risk was looking much better. There was a good chance that 1170 was going to hold for a temporary rally (and it did). That is when I buy for a daytrade or occasional buy/overnight hold. The fundamentally sound stocks are the safest to buy (for a TRADE) when they get beat up along with everything else, because the Fair Market Value is easier to calculate and fundamentals usually underpin a stock. That means they ware "Safer" plays and are often the first to come back. The problem with EDS is that they missed earnings guidance so bad, that nobody knew what a FMV was. Just to clarify, I am not buying NOW but did buy yesterday. I want to see if the rally lasts beyond 10am and builds. Stocks may start off strong but will they stay that way and build.

To: mishedlo who wrote (12825)	9/25/2002 7:47:51 PM
From: Dave Gore	Read Replies (2) \| Respond to of 16631

Mish, see what I mean. "Shorting" can be hazardous to your health as well. Two firms upgrading motherboard growth to as high as 16% for September today, sparking a SOX rally and two excellent retail reports after the bell, which should give the Retail sector a kick tomorrow. Meanwhile with patient and timely buying, a lot of us made 7-11% today. Even crappy ATML was up 21% in one day. You can make a living by going "long" with trades. Hopefully we can again find some 80% gains in 1-2 days like we did in early summer. Again, I agree shorting makes sense too if you can mentally handle both sides of the equation. One thing you can't do is make blanket statements about how shorting or going long is the answer. They both are correct, at certain times. You said yesterday: <You have asked me for plays and I give them. Short and hold GM S CIT COF IBM HI Short any bounces. Thanks for supplying the picks and sticking your neck out. I can respect you or anyone for doing that.