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Guy,
Looks like a good decision to me, but then what do I know <G>. I just
pulled a dumb move yesterday by closing my AOL and SCH positions even though
my system was telling me to stay in. Sure enough, they were way up this
morning. I jumped back in both AOL and SCH, but lost the overnight profit I
would have had otherwise. I keep telling myself I'm going to follow my
system exactly, but then can't help jumping the gun ever now and then.
When I do that, it usually hurts <G>.
I also opened another position in DELL this morning. It looks to me
like the long term channel is going to hold and, if it does, this will be a
good entry point.
JimG
-----Original Message-----
From: Guy Tann <grt@xxxxxxxxxxxx>
To: Metastock <metastock@xxxxxxxxxxxxx>
Date: Tuesday, March 23, 1999 9:01 AM
Subject: Close Out
>JimG
>
>FWIW, I decided to close out my short position in the S&P this AM for a 41
>point profit and stand aside. I hate to pass these profits up since by
>waiting until my next signal, I usually lose a bunch of these paper
profits.
>
>Since our intermediate term signal is still long (since Oct, 1998) and we
>are trading against our 'trend', I thought I'd take the money and run. <G>
>
>Went short 3/19 in AM @ 1324. Closed short 3/23 in AM @ 1283. Length of
>trade 2 days. ROI 50%.
>
>This is a hard decision for me since we have always stayed in a trade until
>our next signal to reverse. We're trying to do a better job of money
>management, thanks to several on this list (you know who you are, so thanks
>again).
>
>My decision was made a little easier since my brother is out of touch down
>in Florida watching his son play in a tennis tournament (he's on a college
>team). <VBG> Well, actually I could have reached him on his cell phone,
>but tough! <G>
>
>Regards
>
>Guy
>
>
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