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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: jimsioi who wrote (24730)	1/3/2003 5:45:24 PM
From: jrhana	Read Replies (1) \| Respond to of 36161

<More likely a continued course higher with many of us spotting tops every tick of the way....> Jims I have always counted on you to restrain my overbullish tendencies. If you turn superbull, I may get completely out of control <g>.

To: jimsioi who wrote (24730)	1/3/2003 7:17:25 PM
From: isopatch	Read Replies (2) \| Respond to of 36161

Jims. Not worried about you. But know from reading a lot of posts on popular threads, over the years, that most people don't understand the <overbought> concept. Strongly overbought stocks AWA sectors are indicative of the powerful momentum and great strength that spells significant... CONTINUATION of the trend. Very OB is highly bullish, NOT bearish. It tells you to STAY with positions and not try to mastermind and over trade every wiggle in the price pattern. If you do? You're very likely to under perform the more patient, <steadfast> longs that understand: <When to hold em, NOT fold em> Can remember making this same post a number of times during powerful Intermediate runs during the big energy run in 1999 through most of 2000. Very few amateurs understand how to evaluate trend strength. That's in part due to the fact that the market does not <trend> powerfully the vast majority of the time. And not knowing what to look for, the average trader is either looking at the wrong information or misunderstanding what the marke is showing him. As a result, the vast majority of players don't recognize the evidence that is there to tell them it's time to adjust the trading plan to longer than usual holding periods. Instead, they continue to think as if they were still working in a trading range and miss significant fractions of total potential profit. But, in the final analysis? People have to make these mistakes to learn the difference. But trying to fade and counter post the few of us who know what we're doing when it comes to making these distinctions is a exercise in futility to say the least. It arrogant or egotistical to say it either. It's reality. Period! Even on the best SI threads, like this one, there's every bit as much variation in perceptiveness and the knowledge to put it to good use as there is variation in net worth from one poster to another. Men (and women) may be equal in the eyes of God. But they are most assuredly unequal on the playing field of Mammon. Isopatch