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To: R. Gates who wrote (4020)	10/9/1998 2:18:00 PM
From: drsvelte	Read Replies (1) \| Respond to of 14427

Here's an interesting post: Message 5968147

To: R. Gates who wrote (4020)	10/9/1998 9:07:00 PM
From: Peter V	Read Replies (1) \| Respond to of 14427

<<In these gut wrenching up and down swings in the market, shorts and longs are losing money. >> Oh man, you can say that again! I lost internet access at 1:00 pm EST, and had some real work to do, so I could not keep track of things. This morning I had mounting losses from my shorts and gold, and when I just got back my internet access, I about crapped my pants, seeing that those intraday losses had doubled! Earlier this week I was jumping for joy with all my paper profits, and today I was hopping mad with paper losses. Aye caramba! I'm going to sit tight and ride it out, because if LT is even half right, I'll be back in the black fairly soon as we crash (agreeing with you R. Gates). As for the gold stuff, NEM had stabilized around 27 when I lost contact, but dumped another couple points. ASA is much less volatile, good for today, not as good when gold is going up. Here is an interesting comparison between NEM and ABX, showing why NEM is more volatile. biz.yahoo.com All in all, this was a learning experience for me. I should have put in some stops, but after my bad experience with NEM I thought stops were not a great thing. I still believe in my shorts, but they hammered me today, and I should have closed some positions yesterday, especially PVN, in which I had substantial profits after just one day, and now have an identical loss. PVN has a long way to fall, and I should have locked some profits yesterday. The gold I'm not so worried about, and in the long run the shorts will be OK, but after having a volatile stock go my way yesterday, I should have realized it can go against me just as quickly.