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get a life.
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> From: Timothy Morge <tmorge@xxxxxxxxxxxxxxx>
> To: Trade Jack <trade_jack@xxxxxxxxx>
> Cc: omega-list@xxxxxxxxxx
> Subject: Re: Trading days from Hell??
> Date: 28 August 1998 16:28
>
> TJ:
>
> My wife just moseyed into the trading room and looked at the SPs and
shook her
> head. She asked what I was doing and I told her I was out of my SPs and
just
> long bonds and tens. We talked about exactly what you just said, namely,
pros in
> these markets trade smaller knowing they are on the edge. Or they don't
trade at
> all. I certainly don't make the majority of my profits on days like
yesterday,
> but I get the impression most people think experienced traders make all
their
> profits on those 50 big figure wild days.
>
> Best,
>
> Tim Morge
>
> Trade Jack wrote:
> >
> > tim and pete (not the one in france)
> >
> > yesterday, like always, i was flat on the s&p opening. the opening
> > was normal enough, but i could sense unbelievable tension on the
> > floor. i went short anyway, following my methods and instincts, with
> > only a 5 lot instead of my usual 10 or 20. contrary to popular
> > belief, pros generally cut back on size if they suspect a very
> > volatile day. i figured i could add on later.
> >
> > i knew the market would crater (but not to the extent that it did)
> > because good ole bob prechter gave a huge sell signal the previous
> > night on his short term advisory. i don't normally follow 95% of his
> > forecasts, but nevertheless he does have an incredible institutional
> > following, and i follow the institutional money. his forecast of a
> > third of a third hard down off the opening was enough to scare the
> > shit out of the institutional traders. plus add in russia and wild
> > rumors.
> >
> > the rest, as they say, is history.
> >
> > TJ
> >
> > now sweating out another short, but ya gotta go with the flow!
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