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List,
I'm back, tanned and dangerous. Somewhere over Arkansas, in a 737...on
Wednesday's opening, I reversed my short positions in the S&P. Got a kick
out of my octogenarian parents cheering for the downside while watching the
financial channel on Monday and Tuesday. The difficult thing about
contrarian trading is that you usually receive trade signals when all the
"experts", talking heads, and public are all insisting that the markets are
going to do exactly the opposite of your new signal. I never "ran with the
herd" (even when working for Merrill Lynch). Anyway, the best of the new
year to all. I hope that I can continue to occasionally add a morsel of
trading knowledge to the forum from time to time.
Steve Karnish
Cedar Creek Trading
http://www.cedarcreektrading.com
----- Original Message -----
From: Guy Tann <grt@xxxxxxxxxxxx>
To: Metastock <metastock@xxxxxxxxxxxxx>
Sent: Friday, January 07, 2000 6:34 AM
Subject: Reversing this morning
> List
>
> As they say, its hard being a contrarian (ask Steve K.).
>
> Anyway, we are reversing or have reversed our positions and are going long
> this morning even in the face of the wonderful fall of the Nasdaq.
>
> We got into our shorts a little early, as we were trading against our
> Intermediate Term Signal at the time (always a worry) and didn't get the
> sell confirmation until a week ago. Sort of wished we waited. :)
>
> Anyway, with the last several days, the trades were all profitable and
we're
> now reversing and going long. Our 90 year old guru in the corner office
> (actually the virtual corner office) had calculated a target of 12040 for
> the Dow and 1450 for the S&P on 12/8/99. We'll see what happens.
>
> Like I always say, I just would like to think that we will catch the big
one
> when it happens.
>
> Good luck to all,
>
> Guy
>
>
>
>
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