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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (89625)	8/23/2007 12:57:20 PM
From: russet	Respond to of 313127

How were you wrong?,..LC by his own admission lost the 30% gain he had made in the market this year. Those who reduced positions because of a building credit crisis in the world (not just the U.S.), a knowledge of market timing and because of a trip to Italy preserved much of their capital, and definitely fared better than if they were 100% invested. Now we can enter positions that are 20-60% lower than a month or two ago. The facts are out there but most ANALysts essays are 5% facts, 95% spin to the favor of their book or employers wishes. That is the main lesson that should be learned by August market action. Everyone is bullchitting to you, even your own brain :-)

To: koan who wrote (89625)	8/23/2007 5:43:36 PM
From: Cogito Ergo Sum	Read Replies (1) \| Respond to of 313127

I didn't lighten up as much but I did similarly.. I didn't suffer nearly the drop I would have (I've been monitoring what I sold) and have picked up some nice bargains with the dry powder. Plus that meant I was never in panic mode during the draw down.. doing stupid $hit. I don't think you were wrong. Actually in my case I've what I think is a more solid portfolio now. How is protecting capital wrong ? In all the trading books I've read... forget about entry and exit.. Protecting capital and knowing when to take a smaller loss are recurring themes... blackie..