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To: Ilaine who wrote (11979)	11/30/1998 2:42:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 86076

I disagree with that approach, i.e. is my assumption that the market will not crash so far so fast that I can't get out semi-intact. I, for one, intend to fiddle while Rome burns. I think that the problem is in knowing what is happening when it happens. Will you be able to know a drop is true drop or a head fake by the market? Will it drop x amount and you want to recover y back. Or on the other hand will it drop x amount and you will jump only to find it has reversed course. The word is whipsaw. I have more patience than most on this thread, more along the lines of what is preached on that certain other thread. Notice carefully when he talks about thirds of position. Notice that that is not market timing. He may time his second third or his third third, but his positions are based on "what is this security worth", not "what is the market going to do next". Then he reacts to the market, less than he predicts it. If a pick of his runs up, he trims it back. If it runs against, he reinvestigates and may put in a second third. This thread is more about predicting whether to buy at 3PM today. Which basically no one is any good at. Remember to do that kind of thing, you have to overcome both commissions and the bid/ask spread. The bid/ask spread will eat you alive if you let it.