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>> What's CIT?
>> thx
>> karen
sorry, i used shorthand. (i myself had to ask that same question once).
CIT == change-in-trend.
kind-of-off-topic but sort-of-on-topic:
i can only speak from personal experience here. after having gotten
beaten up fairly badly (actually, it was my account that got beat up)
trying to do swing & position trading, i finally figured out (duh!)
that this was a *trading* market, not a positional market (from my
viewpoint). i have done much better playing the intraday moves.
(of course it didn't help that i STARTED trading in march 2000 (!).
maybe that has something to do with my viewpoint & perspective, ya
think?).
to me, closing out by the end of the day seems the saner thing to do.
very rarely will i hold positions overnight & only if i have a strong
view of continuation (or reversal). it's just too easy to get mugged
overnight & raped at the next morning's open. who needs that?
i have heard it said that intra-day trading is more difficult than
swing or positional trading. to me, the opposite seems to be the
case. i realize that bigger money can be made playing the larger,
longer swings. but at what risk?
thus, though i'm interested in questions like "how long do you think
this trend will last?" (as an idle interest), i don't pay much
attention to the answers (!). because (1) paying too much attention
to the answer makes me hold to a view possibly dissonant with
subsequent reality (2) being flat each night (or most nights) means i
can view the next day's activity with a clean eye. having a view
simply clouds the vision (or at least does so in my experience).
this isn't to say knowing the major trend isn't important. i just
don't pay much attention to it. :-)
well, this ought to open up some friendly debate.
- *lk
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