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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: j g cordes who wrote (3731)	1/12/1999 10:53:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 99985

Note this little musing in Cramer's prose last night..this market is disconcerting to even the very bullish Perhaps it will turn out that Monday was the top, that the froth had at last reached 1929-like proportions, but I don't think so. I think I am going to be forced to get back, maybe even at higher prices. But even I, giant Net bull, could not hold back from selling Yahoo up 90 points. I had never made 90 points in a day in my life, and I wanted to take it. I had learned too much not to. As soon as I had booked the gain, I asked myself what I would have done in July of 1984, when I had some of my biggest wins. And I know exactly what I would have done, I would not have sold. I would not have let it ride. I would have doubled down. The troubling thing for me is that I know I am one hundred times better at this craft than I was when I swung for the fences every single time at bat. But the fact that the reckless- some would say downright crazy-Jim Cramer of 1984 would be much better at this market than the cool-headed 1999 version, well, that just seems wrong to me. They are paying you for recklessness now, paying you for heady, eyes-wide-shut trading. And I guess I have to go back to that '84 playbook to find a way to incorporate it into my trading, before I get passed by. The ironic thing? Nobody believes in the Net more than I do. You know that more than anyone. You wouldn't be reading this now if I didn't. the complete article thestreet.com Regards, John