Hi Hank,
Dell is holding its own today. But the market is not.
Although I am a novice (barely 11 months experience) I have been watching the NYSE and NASDAQ charts and formed some opinions. First is that we may indeed be in a bear market, and we are certainly still in a correction. Second is that, although I'm no expert, I'm pretty good at psychology type things and a market like this, which cannot consolidate gains, and cannot stay up or flat for even two days, will scare people. I really think it will scare people enough that when there is a rally, it will be short lived, with everyone thinking "now is the time to get out".
Do you hold any positions very long term, like for years? Or do you sell anything that has lost a certain percent of its gain or gone back to what you paid for it (or less)?
I finally learned what long and short meant. I used to think it meant the time held. But now I know that long simply means you bought the stock, not sold it. I couldnt figure that out on my Datek account for many months!
I am trying to decide what to do. I dont really want to watch my portfolio net worth go down, down, down. I think I may have to learn to "short" but am somewhat worried because there is such enormous risk if the stock goes up. (Of course since shorting doesnt have a time limit-does it?- like options, I could just wait until it goes down again, in this market nothing is going to stay up very long. I think.)
Please respond. Am I thinking right?
Thanks for your help.
Freeus |
