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Al,
You have my sympathy. Happened to me at least a dozen times with my biggest
1 day gap being about 15pts in Cabletron about 2 years ago. Didn't learn my
lesson then either. Stayed long only to have again it bite me in the ass
towards the end of the year for another 8pt gap. Ruined my year. One of the
reasons I moved to the SPY. Analysts in Tokyo out pounding the table for
higher US rates today. Certainly would sell MER into any strength on Monday.
Financials will be the first stocks puked up if the Fed tightens. Buy on the
dip mentality will be hard to shake though so there's still a chance for a
relief rally even if we get a 1/4% hike. Better luck next time. Just make
sure you live to play again.
Rick
----- Original Message -----
From: Al Taglavore <altag@xxxxxxxxxx>
To: MetaStock ListServe <metastock-list@xxxxxxxxxxxxx>
Sent: Monday, May 17, 1999 1:30 PM
Subject: Ricks Essential Indicator
| Rick,
|
| Went long MER Thursday afternoon. MER opened gap down 2 3/4 Friday, then
| went down another 2 5/8 to close off 5 3/8 for the day, and I did not
| close my long. Does this qualify me as a long term investor? Is this
what
| is meant by "in for the long haul"? NOW I understand the origin of
"HOLD"
| as in Buy-Sell-Hold.
|
| Al Taglavore
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