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Author: Lammergeier40 Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 297  
Subject: Re: Swiss Re Date: 3/17/2003 10:01 PM
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Dan,

SPX gaining 9.5% from the intraday lows just 3 trading days ago does indeed count as a really big bounce for me. And it has been a welcome relief, albeit dampened somewhat by the fact that my major short positions are all going into orbit right now (APOL, EBAY, GILD, ZMH). I was also short TLT, the 20+ bond fund, but I needed to unwind some leverage and ended up losing a little bit of money on that one after commissions and a dividend payment.

I was traveling and out of commission last Wednesday when the VIX broke 40, hence missed a trading signal I usually always take. I was also traveling and out of commission during Jan and Feb OE, much to my detriment. Thankfully it's spring break here in Minnesota and I can follow everything into Friday's OE.

Even though I know I shouldn't anchor on purchase price, it's really tough not to. And sometimes it takes a major event like a 15% loss to wipe the mental slate clean and start over. This weekend I wiped clean and started over. Consequently, I lightened up a little bit today. But I'm still holding plenty of stuff that I'd buy today at today's price, even knowing where it's been. So yeah, I think this turnaround still has some legs to it.

Todd
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