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Jean Jacques
We are traders and work with a mechanical system. We pay no attention to
bull or bear markets and don't bother to chart anything (a little contrary
to what everyone else does). We're always in the market, up or down, and
have been doing this for too many years to mention. While we never try to
pick tops or bottoms, our system has demonstrated an ability to do so.
Unfortunately, we really never know that we're at a top or a bottom until
after the fact.
For the last three trades, it appears that our signal has been a day or two
early, much to our consternation (and drawdown). But you have to remember
they all made money. Now our system, overall is running over 80% correct
for the last couple of years, so we have to trade it knowing that a certain
number of trades are going to be losers. We just have to use proper money
management techniques to insure that we can recover.
We have been trading futures for umpteen years and have just started trading
equities tied to our S&P futures signal and that may be causing the lag. :)
I think I have the kiss of death when it comes to trading equities (so does
my brother think I have the kiss of death, that is). We are long a bunch of
stocks, which I've appended here. Needless to say, we have a pretty
substantial paper loss for the 2 days.
AMD
APCC
AMAT
CDO
CY
DY
ELN
HWP
INTC
JMED
KLAC
LH
MCHP
SYBS
SYMC
VSH
AAPL
Oh well, we'll weather the storm. Now I do have to admit that we probably
didn't do a real good job of managing our equity money. Our futures trading
is under control and fully automatic. With our stocks, we went in for
one-half of our positions Tuesday morning and then added the other half
Tuesday afternoon. We should have refrained from adding the second half
until tomorrow morning. We will be buying a bunch of OEX calls tomorrow
morning though. Not trying to describe the size of our stock trading, let's
just say that I'm nervous. :) Futures trading doesn't bother me at all.
Guy
Guy
Paranoia...you only have to be right once to make it all worthwhile!
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of Macromnt@xxxxxxx
Sent: Wednesday, May 10, 2000 10:02 AM
To: metastock@xxxxxxxxxxxxx
Subject: Re: Going Long
I am new to this list but I wander what makes someone go long in a bear
market. Is it an attempt to catch the bottom (it's always a risky attempt) ?
Jean Jacques Chenier
Global Management
www.trendoscil.com
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