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

To: Tom Trader who wrote (14338)	11/15/1997 2:08:00 PM
From: randy kay	Read Replies (1) \| Respond to of 50167

Tom - I agree, you should not be wrapped in corn husk and set aflame. What is happening here people? Why must we cast everyone off the island aboard a flaming raft who questions Ikeoompa? I for one could not live with the guilt if Tom were to be flamed just for letting his tongue speak. I stand beside you Tom, dull spear in hand. Randy

To: Tom Trader who wrote (14338)	11/15/1997 10:40:00 PM
From: Judy	Read Replies (2) \| Respond to of 50167

Re: "And woe to anyone who dares to question what the leader says--" Not precise, luv. My jugular is still intact. Ike has posted various stocks as solid long-term investments and fundamentally I have concurred with most of them, not ASND. But as for proper entry his timing was off and I have posted my views of proper entry points ... for TXN, INTC, AMAT, and on the later to wait until earnings was out. Moreover, I have posted Ike that one could go broke fighting the trend and tape while waiting for the herd to understand the macroeconomics that he sees. TT, you have said what you felt needed to be said and so has one and all who cared enough to. Finally there is no need to be strident when there are differences of opinions. In the ultimate analysis, people decide who to follow and what to believe. Even sheep do so. Take care, my dear.

To: Tom Trader who wrote (14338)	11/15/1997 11:10:00 PM
From: Dwight E. Karlsen	Respond to of 50167

Tom, re when it comes to trading, the human ego can be the bane of a trader. I think "can be" should be replaced with "is". That is, human ego can in no way contribute to making good trading decisions. The problem with all gurus is that their need to be right overwhelms good sense. And good sense often means retracing your steps, rethinking conclusions, and often coming to a new conclusion. Unfortunately, this means admitting that an earlier conclusion was the wrong one. This is very hard for humans to do. So what often happens is that people can get stubborn, particularly after publicly stating their views, and begin to deny reality. I often have to recall William O'Neil's statement: "proving the market wrong can get very expensive, very fast". This correction, which began in mid August, has been particularly brutal. At the time of the new highs in early August, I was very alarmed at the high valuations, frothy happenings, etc. I think most people knew at that time (even if they didn't want to admit it) that it was going to be very difficult to go much higher. I think for most people, their achilles heel is that they like investing and trading so much that they simply find it impossible to stay out of the market, when common sense tells them that would be the wisest course (other than going short). Since my portfolio was up over 100% for the year in early August, I knew that the wisest thing to do would be to simply stay in cash for the remainder of the year. But I just couldn't stay out for long. Now I've lost a significant portion of my portfolio, but I'm not as upset as common sense says I should be. I still believe I will recoup my losses, and enjoy doing that. Another thing I was mistaken on was this: throughout this correction, I have always told myself that at least it probably won't be as bad as the Spring 97 correction, at least for techs. I don't know why I assumed that, but again -- not questioning such a conclusion has been a mistake. Happy trading, DK

To: Tom Trader who wrote (14338)	11/17/1997 12:22:00 AM
From: Mark	Respond to of 50167

<though no one who is long this market has not taken it on the chin to some extent.> Daily and intra-daily movements recently gives a new meaning to "random walk". If you were an active trader last several days, chances are you took it in the chin alright regardless of being long or short. regards ST