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Technology Stocks : Data Dimensions -- Ignore unavailable to you. Want to Upgrade?

To: K MAC who wrote (3406)	10/27/1997 11:28:00 PM
From: Staff	Respond to of 4571

Good question.. Learned a long time ago.. bulls win.. bears win... but pigs always end up getting slaughtered! I never like to get in or out of anything at one price. I love to stay away from even numbers as well. I will scale out of 40% to 50% of my poistion every 1 to 1 1/2 points down from here holding a 50% core position for $12.00-$12.50. If I get out of say 20 to 30% before any rally begins, it gives me some additional dry powder to sell into and take advantage of rallies. This way I can slowly reestablish shorts I covered at a better price and do it all over again.. Picking tops and bottoms is for suckers!! The traders cemetery is full of bullet proof wiz kids who claimed they could do it with regularity with some new new gadget or moon chart or whatever. Most of these idiots are broke or on there way!. What works for me is to scale in and out selling rallies and buying breaks. You can catch more of the move than trying catch that magical turn number with your entire holdings and risk missing the boat. I let the market action dictate whether I'm a buyer or seller. It goes down it takes me out a peice at a time. If it goes up, I can start scale up selling shares back I covered at lower levels into the rallies. When you've seen as many people lose money who think they found some magic silver bullet method to beat the market with regularity you learn a few things real fast. The main one being: I'm smart enough to know I can't outsmart or outguess the market so why try. . it's the ultimate trickster and it will pick you pocket clean if you let your greed, fear or ego get in the way of common sense. Stay in the game...ring the register now and then... never bitch about a profit and always be willing to leave a little oin the table for the next guy. You don't need to take the last buck out of a move to be a success. Anyway... that's my 2 cent pitch... Old times here on this thread know I love to sell rallies and buy breakes. It worked well with DDIM so I won't change the game plan now. Remember, markets always look best at the top and the smart money will be buyers but only when there is blood in the streets at the bottom.. If we break $20.00 all heck will break loose. That would be where we came in after the last split here. We take out $20.00 and some of the big boys may just decide to bail here. It's still $5.00 away. This is a big big move. But... never say never... tomorrow should be real interesting. Lots of margin call fan mail going out tomorrow to those young savy investors that had this market all figured out . Welcome to reality fellows... Hong Kong is presently down 13% at this time yet. Should make an interesting opening if it stays here going into tomorrow..