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I see nothing wrong with putting a price projection or market direction out
to others if it is based upon the system you are using. Many times I will see
what someone else has stated, looked at the chart, applied my criteria and
did what my work said to do. What it did for me was to stimulate interest in
something that I might not have looked at. The ego hit seems to impact people
more then the money loss. the money loss they can keep to themselves. good
trading. and keep those ideas coming. Ira
Terry S. Smith wrote:
> One of my trading rules states. "I will not talk about what I think the
> markets will do, I have no opinion. Opinions of the market doing this or
> that have cost me tons of money. I have finally learned to shut up, sit
> quietly, and watch the price action. Gary will learn this maybe, someday.
> -----Original Message-----
> From: JerryS <zaz@xxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Friday, October 30, 1998 12:40 AM
> Subject: Gary in Hawaii-a great contrarian indicator
>
> >A month or so ago i took gary up on his "mass mail list offer" just to
> >see what he had to say, well he's rolled his puts to november and is
> >still holding on to whatever is left of his "rent money" as he put it.
> >My mailbox has been bombarded with long drawn out scenarios of what is
> >going to happen next in exact detail, with continual "SELL, SELL,
> >SELL's" every day since the 8th. I got a good laugh the other day when
> >he said "IF I HAD MONEY I WOULD SELL!!".
> >To all that defended this guy, Gary is a perfect example of what not
> >to do, to convince yourself so strongly of a market opinion that you
> >stubbornly hold on to a losing position. What makes it even worse is
> >all the bragging and ego tripping making it all the harder to admit
> >your wrong. Totally unprofessional in my opinion.
> >Well it looks like Gary's landlord will be paying him a visit this
> >month, or maybe he'll get another liscense plate tip from beyond.
> >Anyway, i think i've finally found some value in Gary's posts, he
> >seems to work as a great contrarian indicator, the louder he yells
> >"sell!", the more calls i buy, but read below Gary's latest post,
> >he's finally switching to calls, i think the rally's over folks.
> >
> >..Jerry..
> >
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