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I don't think the issue is whether anyone of us is or is not willing to
disclose both our winning and losing trades on this post.
I think the issue here are:
1) What is your overall mid to long term market outlook ? Whatever that
means to you.
2) Are you trading with or against that mid or long term trend ?
3) If you are trading with the trend, what is your exit strategy for taking
profits ? (i.e. mental or real stops, using options, etc...)
4) If you are trading AGAINST the trend, what is your exit strategy for
limiting losses ? (i.e. at what point do you swallow your pride,
take the loss and go to the next trade ?) Going bankrupt or meeting
margin calls to prove a point is foolish at best.
Rick's comments maybe a bit harsh but that's the way the market works. It
rewards the winners and punishes the losers.
Thanks,
Marshall M. Liu
Sr. Systems Analyst
(818) 549-6269
marshall.liu@xxxxxxxxxxxxx
> -----Original Message-----
> From: Ben John [SMTP:bjohn@xxxxxxxxxx]
> Sent: Friday, November 06, 1998 8:09 AM
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: NWAC, KEA and AMAT
>
> Don't be so hard, maybe he is learning. I don't see anyone on this
> mailing list, but Jim that is willing to publish their trades. How many
> of use are beating the SP-500! I started a Play Money(100,000) on
> 09/17/97 of Jim's trades and it is up to $141,950.21. If you are not
> willing to show what you are doing what right to you have to criticize
> others!
>
> ----- Original Message ----- From: Rick Mortellra
> <mailto:rmjapan@xxxxxxxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx <mailto:metastock@xxxxxxxxxxxxx>
> Sent: Thursday, November 05, 1998 8:16 PM
> Subject: Re: NWAC, KEA and AMAT
>
> Harley, this slapping ya in the face but I'm not sure why you post
> anything at all. Therapy perhaps? If so, then it's time for some tough
> love my friend.
>
> Obviously, since you've "been here before" you haven't or don't want
> to learn from your mistakes. Certainly if we went down the list of the
> most common trading guideline "cliches" found in the appendix of every
> trading book published you'd be in violation of them all. Frankly, the
> only thing anyone can take away from these posts is that you are a LOSER!
>
> You offer no plan or strategy to deal with this setback other than
> to hope "we get a correction." You can't tell us why the trades went bad
> or even admit that you were wrong. In fact, you want to short more! This
> during one of the biggest up months in market history. Talk about hubris!
> You claim to know NWACs business because you live in Minneapolis? What
> arrogance!
>
> You've said you got a degree in math but its obvious math plays no
> part in your trading. Unless you control your downside risk you'll never
> win over the long haul. So with NWAC the best you could do IF the stock
> went zero was $960. (Yeah right, like one of the giants of its industry
> becomes worthless.) Yet you've endured a $360 or 38% plunge down a
> bottomless pit. Or AMAT, the undisputed leader of its industry and where
> you've taken an astounding $2300 or 35% whipping. What's even more amazing
> is that I'm willing to wager that this 1 position has become almost 50% of
> your trading account, or what's left of it. Are you dumb or just
> desperate?
>
> Finally, you end by telling us that the market action has changed
> for the better and "screwed up your thinking." The only thing that is
> screwed up is that you've continued to stay WRONG for a month while pissin
> off probably 20% of your equity! I suggest for the well-being of your
> family that snap out of this stupor and GET OUT OF THE MARKET! Your
> personality is not suited for active trading and it will end up costing
> you a lot more than a shrink while you "discover" yourself. Stick with it,
> and I'll guaranty you'll be cleaning full-time for a living.
>
>
> -----Original Message-----
> From: Harley Meyer < meyer@xxxxxxxxxxx <mailto:meyer@xxxxxxxxxxx>>
> To: Metastock list < metastock-list@xxxxxxxxxxxxx
> <mailto:metastock-list@xxxxxxxxxxxxx>>
> Date: Friday, November 06, 1998 10:22 AM
> Subject: NWAC, KEA and AMAT
>
>
>
>
> Well it has been awhile since I have addressed my trades.
> Seems like I have dug myself a hole. Since I have been sitting on these
> trades with some pretty good draw down. I have to sit and wait because I
> have zero buying power. I have been here before and I still don't like it.
> It isn't very productive. (Well I have done some much needed cleaning
> around here.) But that doesn't count.
>
> I covered 100 shares of NWAC for a small gain. I still am
> short 50 shares at 19 3/16. Currently the stock trades around 26. My
> fundamental outlook on this stock has not changed. I live in Minneapolis
> and they are giving more and more money in these contract negotiations.
> Plus to attract passengers they are giving up to much money. If I had
> money I would have taken another position short at the $27 level.
>
> KEA - I am still short 100 shares at 30 1/2. I could of
> covered around 30 about a week ago, but decided to take a chance that it
> was going to move lower. It is now around 37. Could break to $40. It does
> move with the markets and I will say that if we can get a correction I
> should be able to get out with out to much of a loss.
>
> AMAT - Has also moved higher and is now around 35. I am
> short 250 shares at 3 different locations. 50 @ 19 1/2, 100 @ 25 5/8 and
> 100 @ 29 3/8. As of the last few days the stock has been trying to come
> down. But the market just keeps moving higher. Then so does AMAT. My out
> look on AMAT has changed since they have finished their restructuring. It
> will help their bottom line but it is unclear what demand for their
> equipment will be in 1999. My guess is not that much demand.
>
>
> Overall out look: My out look for the over all market is
> much more positive than what it was 1 month ago. Even if the economy slows
> down, the fed will use easing as a means to combat a slowing economy.
> Hence large cap stocks prices will still stay buoyed up. I will say that
> Greenspan's surprise rate cut has screwed my thinking up. The landscape
> changed to much and became unfamiliar.
>
>
> Harley
>
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