Frank. Now that you sold AOL at some kind of loss, it would be hard to buy it back before the 31 day wash rule, if you wanted to off set the loss with gains. Or if you have not sold anything with a gain to offset that AOL purchase, you can still deduct it as a loss. You can claim a loss of up to 3000, as you probably know.
Yes, since you are a nervous nellie, gg, it would have been better to buy 100 or 200 shares at a time. As you noticed, you could have picked up your second batch in the low 80's. I just got done reading my Money magazine, a bit late, and noticed that AOL is among someone's best picks for 1999. There was also talk that AOL could get added to the S&P 500, but that was pure guessing.
The stocks you have suggested in your post for a 10 year plan are great. But things still have to be looked at at least on a yearly basis. I actually did not say that you had too much margin with AOL, I just said that I was surprised that you jumped in with both feet. gg. As you know, I have 600 shares of AOL, bought at diff. times, and have no intention of parting with them unless something seriously goes wrong. And they are on margin. But my price was a bit lower than yours. But basically it does not really matter. Almost every good stock looks expensive when bought and looks cheap down the road.
Did you watch NBR on Friday night? D. Elias recommended CPQ with a target price of 60, Intel with a target price of 160 to 170 and GE with a target of 120. They were old recommendations and I guess the targets are for end of 99. His new recommendations included Lucent, Citicorp and Msft. So there are 2 of the stocks you listed as possible buys. I personally think quite a bit of your idea. You may want to wait with AOL because of the above mentioned. Too bad that you pulled the plug on all your AOL. It did come back today and sev. analyst's marveled on how well it held up in that latest market down turn.
I guess you heard that we have a DOW target of 9500 by the end of this year and 10.000 by the first quarter. And then DOW 11.000 sometime next year. That would be the day. gg.
There was also a nutty Fund manager on Moneyline, gg, who called for DOW 5000 later next year.
You can think about all this over the weekend. If I can think of anything else, I send you a PM. I forgot to mention WCOM again. It is supposed to have half of the internet's telecomm. stuff. BTW, I will try to pick up some Msft next week myself if it stays in this range. Sold at 110, watched it ride down and then did not pick it back up when it started moving. That's the problem when you sell. But I did use the money in the meantime to buy another stock. AOL. But I still need Msft and Csco again.
Have a good weekend. We will have fantastic weather but next week it's supposed to turn. Uh.
Sonny |
