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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Michael Rich who wrote (13862)	11/10/1997 3:47:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Just checked Globax- we will have a higher opening- and a test of 942 is on cards.

To: Michael Rich who wrote (13862)	11/10/1997 9:44:00 AM
From: Tom Trader	Read Replies (2) \| Respond to of 50167

>>Not sure who got sucked in near the top this time. A lot of yo-yo traders before I left ... so my sense is that people are not hurt too badly this time even though we got 1000+ point drop in DOW INDU. We had a incredible run from sub-6000 to 8000. People may have lost their real and paper profit but I still believe there is plenty of cash sitting around<< Based on the threads that I follow, there were quite a few I would think--I recall a lot of people posting that they bought INTC, AMAT, TXN, CPQ, DELL and some of the other tech favorites. Remember that with yo-yo trading one does not stay in with for the 2000 point up move. You were incredibly perceptive in picking the shift in sentiment on SI at the bottom in April -- see if you can do it again. >>I like biotech companies doing biological drugs (as opposed to chemical drugs). << Give me some names of what you like-- your track record with IMNX, has caused me to ordain you the "biotech guru". I shall take you to heart this time:) >>Oh, Tom, how did your system react to the 10/27 crash? Just curious to know how system traders fare in that situation<< I was short the S&P futures a few days previous to that--followed the system and went flat the day of the decline when I had my 40 point profit, per contract. Ironically, if I had stayed with the trade and then gone flat on the open the next day, I'd have had additional profit of 60 points per contract--because the futures were down 30 points when it opened the next day. But as I told someone else on the options thread, one cannot devise a system predicated on taking advantage of a crash. I did get whip-sawed a couple of trades just before this one--you may recall this, since I think you were around at that time. Take care