To: SMALL FRY who wrote (42219 ) 5/27/1999 6:27:00 PM From: lee kramer Read Replies (4) | Respond to of 120523
Small Fry...we've been in a tough market for the past 4-6 weeks. Some of us are doing OK, some are doing very well, and some of us are (from reading the posts...and between-the lines) getting clobbered. Perhaps a few pithy thoughts might help; - It's oh so easy to BUY. A nice chart, a nice piece of news, an analyst reco or upgrade and we've got ourselves a reason(s) to buy. But selling is tough, really tough, especially if the stock you bought is running. Who likes to let go of a "friend", especially a friend who's handing you money. Not me. But I do. I sell portions of winning positions, typically by placing GTC sell orders above the market. - Another way to trade is to find a stock you like and buy it on a scale down...build your position and always have sell stops in place...'cause at some point the trade is a mistake. Some of the best trades I've ever made have been losses. - After the market or several stocks have taken a hit, it's common to see some wide swings on heavy volume. This sometimes signals a bottom...maybe not a final bottom, but a "trading" bottom. It's my sense that we may be going through something like this now - Watch Jennas's daily Watch-List and Earning's Plays. I've observed many "experts" over the years ...but I gotta tell you that watching Jenna for only TWO months's only has impressed the hell out of me. Not just her suggested buys...but her work ethic and concern for us all. And I've turned into the king of SKEPTICS over the years. - Try not to listen too much to the CNBC/analysts/experts "noise". It can really mess up your thinking (it has mine...so I use the "mute" button a lot). But, there are some folks who ARE quite good. - I posted on the bottom of my WEBTV this quote from a trader whose name I don't recall; "TWO-THIRDS OF MY PROFITS CAME FROM THE TIMES I ENTERED MARKETS (STOCKS) IN THE OPPOSIT DIRECTION OF HOW THEY SHOULD HAVE TRADED...LISTEN TO THE MARKETS, DON'T TRY TO IMPOSE PERSONAL BELIEFS ON THEM". Trade as well as you can. (Lee)