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In a message dated 7/21/98 7:33:34 PM, robertwc@xxxxxxxxxxxxxxxxxx wrote:
<<My uncle called me one day and said simply get out of your
cotton position now. I regrettably did and took a huge loss and soon after
President Nixon lifted price controls and cotton went to a dollar from the
low thirties. I would have been rich if I had stayed as planned. >>
As you probably realize now, your Uncle gave you good advice. The error here,
if any, was in not getting back into the position at a later date. Just
because we get out of a position with a loss does not preclude us from getting
back in.
Chuck LeBeau
traderclub.com
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