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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: the options strategist who wrote (13509)	7/31/1998 11:34:00 AM
From: Robert Graham	Respond to of 42787

I am very pleased by the way you are talking about your experiences and your pursuit of your business. I find your frame of mind to the markets sadly uncommon. One of your statements I particularly like is that of not chasing a stock. This is a particularly timely comment. Thank you for sharing with me and the rest of us your perspective. And thanks for the encouraging words. I would like to encourage others here to share what they have learned from their experiences in the market, both good and bad, and most importantly, the principles they find makes the difference for them. Being successful in the takes more than picking stocks that will move. For one thing, it takes an awareness of and management of the profit potential to risk of a trade. Case in point: I have not looked at today's market yet, but based on data up to yesterday, we basically have a down market. You can play bounces off of 50 day EMAs like some have been doing. Or you can play stocks that are going up (what a concept). In most any market, there are always some stocks going up, like IBM has been this week, or stocks that have been showing strength during the market sell off like INTC. Or better yet, you can play stocks going down by shorting (what a truely remarkable concept). Which do you think has the better potential profit to risk profile in a down market? How about waiting for a market rebound and then playing the long side? Now we are talking sheer genius here for those who do not know how to short, considering the type of market we are in. Those who do not day trade can afford to wait until the time is right. The short term position trader does not need to trade for days at a time if that is necessary to wait for a market that will provide them with a better potential profit to risk picture. The position player has choice, and choice is something they should always be exersizing in the market. But still it is important for them to learn how to short if they are pursuing a long term trading effort in the markets. Market professionals and people who do not know how to short simply are two seperate types of person. Bob Graham