Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: Shelia Jones who wrote (4554)	10/22/1998 9:21:00 PM
From: waverider	Read Replies (2) \| Respond to of 14427

I am completely lost. In this kind of situation I should pull out of the market and hoe weeds...but NO, I still have my puts. XRX beat estimates by a penny, but said they would probably have trouble maintaining double digit growth ahead due to worldwide problems. Stock dropped 5 points at open. Last I saw is was up for the day. My November 55's are basically worthless today. Cool. AFS...what a teaser. Waiting for that 11:11 dream tonight. Same goes for my KRB short. Thean, do some war dance or something. Gold, NEM...holding but tomorrow may be the break to the downside. Bummer. Oil, up on WHAT?! Market nearing old highs and future fundamentals are a mess. Who the hell would go long this market? I have never been more rudely awakened with holding the bag than I have today. Nearly all my positions are in the red zone and I see a cop writing me a ticket. At moments like these... Out on the deck to smoke a cigar and have a beer. Good luck tomorrow everyone. <H>

To: Shelia Jones who wrote (4554)	10/22/1998 9:23:00 PM
From: Thean	Read Replies (1) \| Respond to of 14427

Shelia, I've been an investor of the OSX stocks for the past two years and I have to keep reminding myself to tune out all the fundamental BS that matter very little when it comes to making profit in trading these stocks. Here are my observations: 1. Those with knowledge, in particular those working in the industry, got sucked into falling in love with their industry and its players. They know the industry fundamentals like they know the inside of their palms, yet they don't seem to be able to call the trend any better than 50:50. 2. TA - it does not work all the time. It works some of the time and it is not easy to tell what tool to use in what period. A tool practiced too many times will fail more often than not. 3. It's oil price, stupid - the only fundamental we need to know. 4. Rationalizing the direction and movement of OSX stocks day to day will lead to utter defeat. Look at how well Slider has done ever since he stepped on the stage. 5. Leave the brain at home - just mo-mo away. This works better than 50:50. No joke. 6. Knowledge is only a piece of the pie. The other two pieces are discipline and skill. These unfortunately can't be learned overnight. When one look at the overall market currently, one has to be aware of what class of stock one looks at. I see two broad classes: 1. Nifty fifty. 2. Beaten down mid/small caps. Class #2 will outperform class #1 in up or down market from here. Value stock picking is coming back. However, be selective. Only those with low PE, high growth rate next year will do well. Those with contracting growth will not. As for the drillers, the only drillers that fit this bill are RIG, DO and ATW. The rest are just participating in the party IMO. D - you think you are lost? Maybe you should just leave your 66 brain at home to rest. Let the fingers do the walking. Remember, LT's strategy is good in LT's scenario. One more day of no LT scenario one more day of brain power loss.