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Mark
I wasn't trying to be elusive, just voicing the thought process we were
going through. I try to be open and honest at all times with our trades as
well as our thought process. I'm saying that we should have stuck with
trading at the open (which we've done for the past 40 years) instead of
playing around with trying to pick tops and bottoms. Again, we're always
trying to improve our methodologies.
The fact that I spend time here, since I'm not a broker, CTA, or selling
anything, is just something that I've done for so many years, I can't
remember how long. I've been in this forum (or more accurately the original
one we had on CompuServe where John Yurko and I did a lot of mentoring) for
too many years, but it was way before Windows was introduced, whenever that
was. I've used MetaStock since its early DOS days.
Unfortunately I went short (and we closed out our equities) at around 7:30AM
PST. I wish I would have waited (I kept telling myself to wait until the
close), but I chickened out and pulled the trigger too soon as I had to hit
the road to get to a VC meeting. How's that for honesty?
We'll stay with our sell signal, since we received a confirmation today with
our Intermediate Term Signal. When you trade a system, you go with it, no
matter what.
Interestingly enough, if we had just traded our system on the open, the S&P
trade would have lost only 1.80 points, or $90 a contract plus commissions.
By playing with timing and trying to pick a point we actually lost 6.80
points or about $340. Still not too damaging since we only had 10 of them.
I wish the equity trade was as cheap. :)
Now that's our current picture. With regard to shorting equities, we only
took little positions in DIA, SPY and QQQ (that's little for us but possibly
heavy for others). :)
We will probably at least double those positions tomorrow, with the
possibility of quadrupling them, depending upon how adventurous we feel.
Again, just our current musings since we haven't made any decisions yet.
Again, when you have a system like ours, trading probabilities, you stick
with it, win or lose. :)
By the way, good luck with your long and anytime you would like to match
audited statements with our S&P trading (if you pay our CPA that is) we'll
be glad to do it. :) We won't bother with any auditing unless we decide if
we want to go into the newsletter business or bother with the CTA thing.
CTA registration isn't a problem according to our attorney.
The question we're knocking about is do we even want to bother? If we get
involved with this, what is the benefit to us? John Bollinger, a friend
(our kids went to preschool together and he live a couple of blocks away),
keeps telling me to not do it, that we're better off trading quietly on our
own. We were talking about setting up a fund, but he felt it wasn't worth
the pain and suffering, but again that's his opinion and he manages a small
fund himself.
We'll take a look at it in detail, but our current thought is if we decide
to go ahead with our web site, we should register as CTA even though with
the new regulations we're not obligated to.
Guy
Paranoia...you only have to be right once to make it all worthwhile!
-----Original Message-----
From: Mark Brown [mailto:markbrown@xxxxxxxxxxxxx]
Sent: Monday, May 15, 2000 4:55 PM
To: Guy Tann
Cc: metastock@xxxxxxxxxxxxx
Subject: Re: Going Long - NOT!
Hello Guy,
Was just wondering when you took you sell signal today? You were very
elusive about when during the day you would sell and given the fact
that the SP's went up all day. I figure it's safe to assume that you
will say that you sold it on the CLOSE? No matter when you sold it
today what are you going to do with it now? I want to know because I'm
long and a big believer in public sentiment. ; - )
GT> Well it appears that our buy signal didn't last long and we have a sell
GT> signal for Monday. This signal is one that we call a signal against our
GT> intermediate term signal, but we still follow it. Now we haven't
completed
GT> work on what our actions will be tomorrow, like selling on the open,
selling
GT> an hour into the day, selling on the close, etc. because we're busy with
GT> Mother's Day and won't get to that until later.
--
Best regards,
Mark Brown mailto:markbrown@xxxxxxxxxxxxx
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