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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: inchingup who wrote (3733)	11/19/2006 11:50:38 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 50126

It's the difference between "Wright & Weiss" Billy & Charlie that is. One spends all of his time at the pep rally, with the cheerleaders and the marching band (jsmineset.com, Kitco, 321 Gold, Gold-Eagle)...and the other, relentlessly studies his opponent. One engages in hear no evil, speak no evil, see no evil intellectual incest...and the other studies his opponent to the degree that he knows how his opponent thinks, acts and reacts...better that he knows his own team. Great football coaches spend 2/3rds of their time studying their opponent. Shanahan was looking at ariel photo's of San Diego's defensive movements at the snap -- in order to make adjustments in his gameplan. Charlie Weiss spent the last 10 days watching every snap of every game USC has played this year. Trading should be no different. There is someone on the other side of every trade. That's your opponent. You need to know how they think. You need to know their strategy & gameplan inside-out. You need to study the opposite side of the trade and know it as good, if not better than you do your own. You need to spend 2/3rds of your time in your research, in your reading and in your TA -- studying the opposite side of your trades. If you're a gold bull... you can't afford to spend 2/3rds of your time reading & listening to the over-the-top 24/7 gold-bull cheerleading sites that repeatedly tell you what your already know. Can you imagine a top Football Coach watching his own team's highlight reel all week long...over and over and over? That's exactly what the vast majority of gold bugs do. That's what jsmineset, Kitco, 321Gold and Gold-Eagle are... highlight reels. You need to spend 2/3rds of your time studying the other side of the trade. Know the bear-case... know it well, study it relentlessly. Know it better than the bears do. Read who and what they read. Look at the charts through their eyes. Study the charts in their mindset. Read and devour everything you can that they use to make their case. If you did that... you would not have been surprised by the May top and ensuing collapse in gold. You would not have been surprised by the US Dollars strength. And you would not have been surprised by this recent roll-over and rally failure in the HUI. The signs were all there... especially for the May collapse. If you didn't see the May top as speculative excess & a no brainer exit opp... you missed some very obvious exit signs. I'll share a couple of the obvious ones with you later this week... Perma'bugs should have studied what Central Banks were really doing...they should have both known and anticipated their gameplan, their strategy and the result it would have on gold. As I said earlier: Gold spoke, Central Bankers listened; but Gold Bugs didn't... More later this week, SOTB