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JimG
That's one of the problems with our system. We place and forget (the orders
that is). <G>
Actually, I was busy with my little guy today and never even looked at the
market until after the close. When I stopped watching in the early morning
I was 10 points ahead. That'll teach me to not watch.
Anyway, we just went short a little (about 25% of the positions we closed
out). We've found that with this crazy market, it pays to move in slowly
but not to avoid it entirely as you might miss a big move. My brother was
happy going short as he wanted to offset all of his long stock positions
just in case everything collapsed. He bought into AOL et al about a week or
2 ago (I forget) and seems quite happy with his portfolio. After today,
he's probably not even behind with AT&T. Beginner's luck. <G>
Well, we'll keep watching this market, do our averaging and pray for good
fortune to shine on this trade like most of our others. Even when they
start this poorly, we usually luck out and make a buck.
Hold on for the ride. I had thought we'd test old highs and maybe up to
11890 or what ever that number was (I'll have to look it up). Let's see if
we might not have a down day or two on the way. <BG>
Regards
Guy
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]
On Behalf Of Jim Greening
Sent: Wednesday, June 30, 1999 6:14 PM
To: metastock@xxxxxxxxxxxxx
Subject: Re: New Direction ?
Guy,
Looks like the Fed did you in today. Hope you covered when they
changed their stance to neutral.
JimG
----- Original Message -----
From: Guy Tann <grt@xxxxxxxxxxxx>
To: Metastock <metastock@xxxxxxxxxxxxx>
Sent: Tuesday, June 29, 1999 9:37 PM
Subject: New Direction ?
> JimG and all others:
>
> We went short the S&Ps after the close tonight, FWIW. We had thought that
> we would still challenge our old highs, so this might be a short-term pull
> back, if we're correct.
>
> Our Intermediate Term Signal is still Bullish, so IMHO this is not the
"big
> one".
>
> This is our Short Term Signal. This STS is running 71% correct for the
last
> 14 months. Trading one e-mini contract with an initial margin of $4,000
> would have returned a net profit, after commissions, of $29,700, assuming
> you didn't get greedy, screw up or otherwise not follow the system. In
our
> case, before we started applying certain money management techniques, our
> greed cost us a lot of these profits. I keep saying, we've learned our
> lesson, but that's today, not the last 14 months. <VBG> It's a good thing
> our systems work so well and bail us out of a lot of our greedy trades.
Now
> with various money management techniques, we are trading the system but at
> the same time, trying to minimize our exposure to risk.
>
> Remember that this advice is worth exactly what you paid for it. :)
>
> Guy
>
>
>
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