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<DIV><FONT face=Arial size=2>The recent guru interchange witnessed on this
list reinforced my observation that as individuals grow in knowledge and
understanding of the markets, their thirst for knowledge is often replaced with
a rigid marketing "position" based on their interpretations of their learning
and their "packaging" of information that can be sold to the public. This seems
to be true not only of these gentlemen, but also of nearly every other "name" in
technical analysis whom I have conversed with.They not only refuse to
objectively evaluate the work of others but also are reluctant to verify their
various claims of value by presenting objective evidence of the results. As a
result, objectivity, professionalism, and learning have suffered.</FONT></DIV>
<DIV><FONT face=Arial size=2>People participate in this forum primarily to
continue to learn more about markets and trading. However, the format of this
list does not permit a focused discussion of a particular subject with
documentable conclusions. To address this short fall, Eddie Kwong, several years
ago, set up a series of special sub sites , each dealing with a specific
subject. I was the monitor for the site on Market Geometry and Structure. For
whatever reason, the experiment failed. I would like to propose another
approach.</FONT></DIV>
<DIV><FONT face=Arial size=2>I propose to set up a forum on my web site on the
subject of Market Structure and Gann. The format would be as
follows:</FONT></DIV>
<DIV><FONT face=Arial size=2>- Participation of subject matter
experts would be solicited. Others could participate for the learning
experience. Participation would be by a nominal annual subscription fee to cover
administrative costs.</FONT></DIV>
<DIV><FONT face=Arial size=2>- Each month a specific question
concerning a dichotomy or dilemma in the understanding of market structure
or Gann techniques would be submitted to the forum. Participants would be
encouraged to submit a position or answer to the question at issue. Responses
would be expected to be objective, professional, and backed up by logical
analysis and quantifiable evidence if available. Response would be monitored and
posted to the forum.</FONT></DIV>
<DIV><FONT face=Arial size=2>- Dialogue to clarify and
facilitate learning would be encouraged and fully documented to the group.
References to proprietary information would not be allowed.</FONT></DIV>
<DIV><FONT face=Arial size=2>- At the end of each month a
summary of information and conclusions would be posted. All data would be
archived and available to participants.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2>This concept is truly embryonic so I would
appreciate your candid opinion. Please respond to <A
href="mailto:pivottrader@xxxxxxxxxxxxxxx";>pivottrader@xxxxxxxxxxxxxxx</A> and
not to the RealTraders list. Thanks for your input.</FONT></DIV></FONT></DIV>
<DIV><FONT face=Arial size=2>Jim White<BR>Pivot Research & Trading
Co.<BR>pivottrader.com</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Mon Jan 10 10:08:38 2000
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Date: Sun, 09 Jan 2000 21:36:07 -0800
To: <realtraders@xxxxxxxxxxxxxxx>
From: James Taylor <jptaylor@xxxxxxxxxxxxxxx>
Subject: [RT] Re: The argument about top of market
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Status:
Dennis,
I'm still short T-bonds (but have a mental stop at 91^12, as we could see a
short term retracement), and am short a variety of regional bank stocks.
Congrats on the S&P trade. For the massive amount of risk you are taking,
you deserve to be rewarded. I compare it to selling options, you can
potentially have a number of profitable trades, but when you are wrong, you
pay dearly.
The buy on the dip mentality still holds, at least for the major averages
-- that should continue to be the case until the public sees a 30% drop in
prices in the major bubble stocks & indexes, then the mentality will change.
For your info, I do not let my opinions put me in trades that are not
backed up by price action and trading system signals. But my investing
philosophy does not permit me to take trades that make no fundamental
sense, and the risk/reward must make the trade worth it. May you not be
long when this bubble goes LOCKED LIMIT DOWN.
James
--------------
At 06:25 PM 1/9/00 -0800, Dennis Holverstott wrote:
>James Taylor writes:
>
>> The question is: if you think it is a top,
>
>I don't. But then I try to never let my opinions get in the way of my
>trading. The market doesn't care what I think. I have to constantly kick
>myself in the butt and remember to trade what I see and not what I
>think. This game is about making money, not being "right."
>
>> what do you intend to do about it ?
>
>Well, James, you're the bear so you tell us. What trades have you put on
>lately or planned for the near future?
>
>Personally, I went long Wednesday and covered Friday for +45 S&P points.
>Every instinct told me it was a bad trade but I didn't let that stop me
>from taking it. Funny how that works. Often the trades that scare me the
>most pay off the best.
>
>--
> Dennis
>
>
>
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