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Frank Pembleton

02/18/06 10:22 AM

#15430 RE: ItsAllCyclical #15423

/// I think you're more of a ST trader ///

you're right ... I trade more than ever since I walked away from my day job (almost three years ago).

...and I've become much more risk averse too.

Take the uranium sector for example-- I like the "big picture," staying long for the big money makes the most sense until you actually try and hold these stocks in a downturn. Right now there's so much distribution that even with the best of charts, you can take a position and be stopped out within an hour with a 5% loss ... I've demonstrated this to my wife the other day by making a paper trade into one of Jim Dines favorite plays-- by the end of the day I was down-- the charts are not truthful any more.

-- time to move on, where it's easier, more truthful.

recap, of my AES trade -- bought a 1000 shares Wednesday afternoon @ $17.10 -- wasn't down by more than $0.05 at any giving time -- it close @ $17.71 on Friday -- $0.61 gain is better than a kick in the head -- I'm not getting rich but it sure pays the bills.

...and I'm still long, possibly for another day or two.