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Non-Tech : The Official Guide To GOOFS
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To: Michael Sphar who wrote (249)7/10/1996 10:45:00 PM
From: Rick Sooy   of 3539
 
Hi Mikey. I have a great idea for everyone else on this thread. If you want to test run a stock you are not sure of-let Mikey try it! Seriously, I can really empathize with your plight. Believe me we have all been there. You buy a stock- The fundementials are acceptable and it may be a little pricy but so what since you figure it will keep going up. Well you take the plunge and ten minutes later it's lost 3 points. Ok Ok maybe it takes longer. That's worse yet. The slow demoralizing slide. You start looking around and all of a sudden this wonderful stock of yours people are trashing. You say-How can this be? Last week the analysts and the market loved it. Well that's the market for you. Next week it will be off loving something else. Kind of like some old aquaintances. You got the picture? OK-now you say to yourself, demoralized and disillusioned, if this sucker ever just gets back up to what I paid for it I'm out of here!-or maybe you have the intestinal fortitude to ride it a little-but you DO get out early because the previous trama is still a recent memory and an open wound.If you make a buck or two before you get out you are happy and congratulate yourself for being Warren Buffet. A year or two later the stock has split twice and tripled and you say to yourself, Geez if I had only waited. By then you have gone out and run through that same cycle with 3 or 4 more picks. Am I right on so far? Been there, done that. Still do occasionally but I try like hell to resist. For one thing the market sucks you in. You want to keep track of your beautiful pick so you check on it a lot. As yours is sitting there or headed south you see all these great things happening to stocks you don't have. You see all this ACTION, and here you are on the sidelines with a fence sitter or a loser no less. Man you don't want to be a LOSER. You want to be a WINNER and a PLAYER. Guess the best advice I can give you is if you bought the stock for a GOOD reason and that story hasn't changed, hang with it for the long term. It WILL eventually do you proud. LSI will be back. It's a good company. It's day in the sun will come around again-as will all the good techs.
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