I thought I was cured...but then I had a dream.
It all started last spring when the fire sales started popping up everywhere.
I couldn't help myself, I had to have all these bargains. Around Christmas time, in a frenzy I spent all of my remaining cash stuffing my portfolios with all of the beaten down worthless telecom stocks i could find (and the street was littered with them!)...gstrf at 50 cents, gts at 50 cents, strx at 12 cents, and the list goes on.
This was a last desperate attempt to kick the dipping habit. No more money. All gone.
Then, in January I began selling all of these stocks as they rose to mighty numbers ...some even over a dollar!
But I vowed, this money would all stay cash.
Then, I had the DREAM. In the dream I was looking at my portfolio in shock...EMC was at 50 bucks! And then
I looked around me and the streets were filled with people staring in windows at stock stickers and headlines were blaring NAS down 40%. I tried not to think of the dream. I looked at EMC and it was 70, and i knew that 40%
off of 70 was less than 50, so the dream must have been just a product of my deranged mind.........
but then EMC hit 82 and alarms started going off in my head.....50 was about 40% off of this number. I sold half my position. I started frantically cashing out anything that was in the money. To heck with long positions. Then for a few weeks i watched as all the things I sold went up! But I would not buy the dips. I was cured.............
And then EMC hit 50. Well, a quick analysis showed me that 40% off the nas from when EMC was in the
low 80s would have put the NAS somewhere around 1900, give or take a little. The NAS was higher than
that......but EMC was at 50, so this HAD to be the bottom. I backslid. I started dipping into everything
again. My dream has turned into a nightmare! |
