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"Become Rich In The Stock Market . . .


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Hello,

 

If I had to pick a top I would say that 1089-1093 +/- 3 points. The day is either today or Monday.

 

If that's not it, then I will have to do some serious scratching on my head.

 

Happy holidays and a healthy 2004 to everyone.

Cheers, blackbelt.

 

We miss your Gann charts with the time and price target ranges.

 

2004 looks healthy, but not sure about 'wealthy' yet. :lol:

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I posted this a couple of weeks ago. I don't know how many saw it. Maybe this is a good time to repost the first 5. The other 17 are at the link.

 

Thoughts From The Frontline

 

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I've pasted this over my computer because I've been breaking some of the rules.

Rich

 

1. Never, under any circumstance add to a losing position.... ever! Nothing more need be said; to do otherwise will eventually and absolutely lead to ruin!

 

2. Trade like a mercenary guerrilla. We must fight on the winning side and be willing to change sides readily when one side has gained the upper hand.

 

3. Capital comes in two varieties: Mental and that which is in your pocket or account. Of the two types of capital, the mental is the more important and expensive of the two. Holding to losing positions costs measurable sums of actual capital, but it costs immeasurable sums of mental capital.

 

4. The objective is not to buy low and sell high, but to buy high and to sell higher. We can never know what price is "low." Nor can we know what price is "high." Always remember that sugar once fell from $1.25/lb to 2 cent/lb and seemed "cheap" many times along the way.

 

5. In bull markets we can only be long or neutral, and in bear markets we can only be short or neutral. That may seem self-evident; it is not, and it is a lesson learned too late by far too many.

Rule #2 was put into effect yesterday.

 

1070 SPX yesterday was a classic example of one side winning the battle, and today you see the result.

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