Discretionary trading.

[manucastle]

Thanks very much Billy.

IMHO Jesse Livermore's quotes ring very true in this market and at this dangerous time for investors never more prescient :-

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'After spending many years in Wall Street and after making and losing millions of dollars I
want to tell you this: It never was my thinking that made the big money for me. It always was
my sitting'.

'First, do not be invested in the market all the time. There are many times when I have been
completely in cash, especially when I was unsure of the direction of the market and waiting
for a confirmation of the next move....Second, it is the change in the major trend that hurts most
speculators.'

'I believe that uncontrolled basic emotions are the true and deadly enemy of the speculator;
that hope, fear, and greed are always present, sitting on the edge of the psyche, waiting on
the sidelines, waiting to jump into the action, plow into the game.'

Well worth reading through this list :-

http://leavittbrothers.com/chartspea...eak_040608.pdf

3 weeks in Jesse Livermore words are still ringing true !

Trev

[nickola.pazderic]

Trev,

I read the same quote a couple days ago. But when someone like Billy makes the claim that a 95% possibility of anything happening, I must break out my discretionary check book.

We're bouncing from $.02 above SS3.

Yours,

[manucastle]

Trev,

I read the same quote a couple days ago. But when someone like Billy makes the claim that a 95% possibility of anything happening, I must break out my discretionary check book.

We're bouncing from $.02 above SS3.

Yours,

Hi Nickola

Or is it next stop WS3 at 66.93 ?

Trev

[nickola.pazderic]

This is a big question, of course. And a 5% move below there is always possible. Call it risk!

VIX and Ticks. Not too bullshish..