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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (33187)	11/6/1998 1:46:00 PM
From: HighTech	Read Replies (2) \| Respond to of 94695

The question -if one is long this market- is at this point, do I wait for a correction or do I jump in and ride the wave? (Or at least put my toe in the water) The fact that we have come as far as we have and the fact that various indicators tell us that the market is extremely overbought does not necessarily mean that the market will NOT rise significantly from this level. The market often tends to confound logic, probability, reason, and common sense. I have feared getting in the last two weeks, but instead have been averaging up anyway against my better judgment. What has transpired as a result of doing what I think is the most stupid thing to do - that is go against my better judgment? You can see that for yourself. I simply am trying to make money regardless of the direction of the market. Obsession with indicators, gurus, and analysis can lead to paralysis and inaction as I have fallen prey to so often by being overly cautious. Yes, I am still averaging up slowly and will continue. But I am also taking profits out (a little more slowly though) on the way up and stockpiling some cash for the inevitable pullback or correction. Sitting on the fence has done nothing but put splinters in my ass. Regards, HiTech