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Good point Ira. Actually I should have been more specific and said
I will be moving some of my cash (about 25%) into long term positions,
holding the remainder for future buying, possibly at a lower price. I'm not
very good at calling tops and bottoms, but for long term positions (years) I
can't resist with all the negative waves (mental not Elliot) going around.
Good luck and good
trading,
Ray
Raffurty
-----Original Message-----
From: Ira <ist@xxxxxx>
To: RAY RAFFURTY <rraff@xxxxxxxxxxx>
Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, October 01, 1998 9:47 PM
Subject: Re: GEN: STOCKS YESTERDAY
>I'll wait till my indicators get oversold. As strange as it may seem many
>indicators have just reached the mid range on the way down. I'll need a
little
>more evidence before I commit long term money. Ira
>
>RAY RAFFURTY wrote:
>
>> Hi All,
>>
>> This is very typical at the end of a down move, as the last of
the
>> week hands get scared and sell their best companies at the low for a big
>> loss. While the market may still go lower and I may still be short with
my
>> short term trading, starting tomorrow I will be buying with my long term
>> money. IMHO the last 2 days have been a blow-off decline, though I would
>> have liked to have seen higher volume.
>>
>> The U.S. will not slip into a depression, Japan will solve it's
>> banking problems (just as the U.S. did), Russia will not return to
>> communism. The only thing left is a picture of a bear on "News Week's"
>> cover for a perfect contrarian entry.
>>
>> Good luck and
good
>> trading,
>> Ray
>> Raffurty
>>
>> -----Original Message-----
>> From: Ira <ist@xxxxxx>
>> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>> Date: Thursday, October 01, 1998 11:50 AM
>> Subject: Re: GEN: STOCKS YESTERDAY
>>
>> >On the run up in the snp this year, $526 billion, 12 stocks counted for
>> >all of it and more. The remaining 488 stocks combined barely broke even.
>> >Those 12 are now giving up the ghost. MSFT,107.7: Wal-Mart.64.8:
>> >LU,55.6: Dell, 54.2: csco, 43.5:GE, 43.2,etc. The numbers are in
>> >Billions of $. Source is business Week.
>
>
>
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