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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Trevor Quest who wrote (11616)	2/3/1999 7:48:00 AM
From: Paul A	Read Replies (3) \| Respond to of 90042

see, thats my problem right now is I have no idea.. The market looks exhausted, and than it pulls off that last hour recovery.. its real confusing right now, othwerise id probably still be holding CSCO. Im looking for the first drop below 104 on SUNW to do a trade, than exit and wait to see where it goes.. Id like to be all cash by 2:15 today just in case but will be back in at 2:16 are whenever greenspans decision is announced. CSCO im putting in a buy at 110 pre market.. Regardless of what it does today, I really doubt it will go below that- at least not in the first hour of trading. MY worries with CSCO are down the road.. when the market corrects, CSCO is right there with it. Im going to focus on DELL a bit more, even tho its ironic because DELL dosnt even compare to CSCO in my opinion.. but im getting real real tired of trying to figure out who, what, why will be the next winner and im just going right back to following the herd.. PAIR is 2 weeker for me, but I do have my mental stop at 9 1/2 which ill stick with, and re-enter if it drops below. PAIR unlike CSCO has always been good to me, err almost always.. for some reason I am the kiss of death with CSCO, and its no lie.. I just cant hit it right, and yet its such a great trading stock.. the beer from yesterday has worn off, im ready to trade, yesterday is forgotten.. but ill remember the mistake I made.. NEVER hold thru earnings.. NEVER. and yet I keep taking profit and gambling it.. the most difficult part of trading is dealing with emotions.. temptations.. foolish mistakes will lead to a whiped out account.. One thing I want to say about position trading which people need to always keep in mind- and believe me, im the last one to give advice obviously but the markets have been giving incredible returns.. if it drops below your buy price? you can hold and it will return almost immediately.. This has been the pattern for what, the last 3 years now? Great.. but I need to make a living 10, 20 years from now.. will this be the market forever? hell no.. Id rather make my 20-30% consistently and if it means more work for less money in the short term- fine.. As we saw in that small correction 6 or so months back, you can invest in IBM, MSFT, CSCO, DELL, but when things go bad they go bad for everyone.. Traders made a fortune during that downturn, ironically.. Whatever works for whoever.. but nothing is guaranteed.. Im doing fine trading, so I only consider positions on things im willing to loss on like JBOH and PAIR.. Holding onto CSCO thru earnings report was NOT part of my game plan and was a great example of how to fail at trading..