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Steve, I sent the post with tongue-in-cheek (check the hour..I think you
and I are the only ones on this list up at this hour).
To answer your question, however, I have been taught to sell new lows and
buy new highs. Views on the grains? I have no views. I would be glad to
share with the list my views on the direction of the DMark and TBond as you
have asked, but again, I have no views. Not trying to be a smart-ass, but,
as I have stated in previous posts, I try very hard to have no bias: just
trade the markets I follow. I do understand the postion you are in:
advising clients, and that is a heavy responsibility.
Understand my position. I am like a baseball player in a game where there
are no called strikes. I can sit back and select my position. I can go
days without a position. I do not account to anyone. Very few can predict
a market as poorly as I can. Larry Connors ("Street Smarts") went at
length to explain that if you have a bias, you can miss the move. Mark
Douglas and Bob Koppel have repeatedly preached that you don't know, you
will never know, and you don't need to know.
I am slow, and it has taken me two years to understand what they were
teaching. In the last year, I have had one of my most profitable trading
years because I realize that I will never know what the next tick will be,
or when the trend changes. I just try to react to whatever the market is
doing; I take my profits too quick. Bill Williams stated many times that
we trade our mind, not the market.
I do not make a great deal of posts to this List because I understand that
my views of TA are not the same as most others. But I do glean some very
good ideas from many of the posts. Particularly enjoy your posts along
with Richard, John, Harvey and Rick, among others.
Al Taglavore
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> From: Steve Karnish <kernish@xxxxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: commodity traders
> Date: Monday, August 31, 1998 8:44 AM
Steve Karnish wrote:
Snip-snip-snip
... Are you suggesting a short position here? I'd love to here your
> views on the grains. The grains will bottom in the immediate
> future (this week, September, October). ...
>
> Al, I gather from previous post that you trade the D-Mark, long
> bonds, Euro's. Can you share with the list your views on the
> direction of these markets?
>
> Trading in Idaho (long the Mark and Bonds),
Steve Karnish
> CCT
Snip-snip-snip
> > From: Al Taglavore <altag@xxxxxxxxxxxx>
> > To: metastock@xxxxxxxxxxxxx
> > Subject: Re: commodity traders
> > Date: Monday, August 31, 1998 12:45 AM
> >
> > Aren't we supposed to sell new lows, buy new highs? "The trend
> is your
> > friend" (until it ends)
> >
> > Al Taglavore
> >
> > snip-snip-snip...
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