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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Warpfactor who wrote (17919)	12/1/2002 5:30:56 PM
From: pvz	Respond to of 23153

Warp, I can imagine new highs being made in the next 10 years, but that wouldn't at all be incompatible with a major new low first in the next 1 to 3 years. P

To: Warpfactor who wrote (17919)	12/2/2002 12:50:58 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 23153

Warp, I was thinking about you post yesterday, concerning "we market technicians" and the hedge funds. I think you're right, but I also think the reason why we get roughed up is because we don't plan wisely and work with discipline. Our positions tend to get out of proportion and then when the stock falls or a short squeeze begins, if we're on the wrong side we generally don't have enough capital to ride it out well. Personally I've done much better since I've tried to manage positions and hold with patience. It took me a long time to hold EDS CC and OMG to profitability on the long side, and similarly to begin to hold smaller positions, longer, on homebuilders and other stocks on the short side. Nothing is worse than having too large a position in a stock which goes against you, hard, all day long. And then to sleep with that position overnight, if you can actually sleep. Finally, we'll do better if we manage our greed. Greed to me is the desire to catch the absolute bottom or the absolute top in a stock, and not to be content to take a juicy portion out of the middle. I'm mending my ways, though. Kb