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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Eric P who wrote (18069)	1/3/2010 7:49:25 PM
From: Dave O.	Read Replies (1) \| Respond to of 18137

Eric, I suspect that many washed out after the bubble burst early in 2000. As you know a ton of $$$ was made on the way up when one could throw darts and make decent $$$. Many played only the long side and I suspect many held onto losing long positions as the meltdown worsened. Ever since I started in early 1996 I knew I had to play both sides and did a lot of shorting in my early trading days at All-Tech. My analogy was that successful teams in football don't just pass OR run the ball -- they use BOTH options to maximize the chance of winning the games. Somewhat funny story -- I recall in February 2000, about a month prior to the NAZ top, I shorted VTSS at $96. The next day it was $120. 25% gain overnight. A trade gone bad I thought. Later I did make $$$ by covering for a profit. Note today that VTSS trades on the pink sheets at about $0.25. Nice chart. finance.yahoo.com Dave