HI Barry: It's kind tough to swallow that I can make some big
stipd mistakes, and latly I'v been on a roll the wrong way,
had it not been for some earlyer winners I'd be in alful shape,
still this giving back of earlyer gains does not sit well with
me ; I guess I got to cock sure of myself. Now I'm going to
the other extream..think I need a break.
I shoud have known something was up with that ATEL, I was like
thinking of myself as a sort of market maker on the side with her.
I siad o- not much downside risk here..started in buying at 1-3/8
then 1-5/16, then 1-1/4 all the way down..kept looking at my average
and with the $12 trades would put it up for sale a 1/16 above my
average..sold a good bit like that ( havent't added it all up,
just kept a runing fix on my average..and figured I wasn't making
much but if it kept up what the heck..but I was picking up more
all along than I was selling, then yesterday she hit $1 and I said
heck I'l double up and grabed 5k..."big mistake", for me anyway
I trade a lot since the $12 net trades came arond, but I'm not a
big money trader..and taking a 5k loss is a lot to me, and thats
about what it run. Any way that double up thing had paid off for me
in the past so I was sold on it, dispite reading that it's not
a good idea.
Not to long ago I was in SME when the S&P down graded her dept,
here again a small cheap stock cost me a bundle..I had a 3-1/2
average and dumped out at $3...I see she did come back to 3-3/8
but you don't get what you see..however had I held on I could
a got 3-1/4 anyway..but how does one know that.
I saw spw climbing like a rocket..said no way..and bought some
July puts..and she has gone up almost another 10 since..I'm still
holding..hell they lost so much value there is no sence in selling
them..what else..o yes xcit..yep I got june puts on her, and you
can bet they are worth nothing..the only winners I'm holding
at this time is a mutual fund and some bonds..all my longs
were bargins that have not lifted even in the face of this bull
market and that's causing me to wander what will happen to them if
the market turns down. Well I had some longs that did rise, and
I sold them..and in selling off my winners, I'm looking at a shaby
remainder...if market turns down I'l likly dump the rest at a
loss..and be in all cash and bonds, except if I can catch NXTL
calls, damm I hate to chase her and she looks like she is taking
off, it could be all hype..but I think the hype will hold up,
and she could be an AOL type by fall..but with the way my resent
luck has been she could hit the deck too..<G>
Heck don't worry about being insensitive to my losings..I don't
bet the barn, or morgage the house to play these things, as I
saw some that had done that back in 87..did they ever get hurt,
worst part was after that crash things got tight and most of them
got caugt up in that down sizing thing, lost jobs and all..got one
friend that is just now getting back on his feet since that crash,
I mostly missed it, only had one stock and some silver ( which at
the time went up ). But thoes losers in 87 people don't think of
them much today..and brokers will tell you they should have held
on..but the ones who did not have some dry powder to buy more
on the bottom..well guess what..even the mighty IBM..is just now
getting back to were it was..and a lot of them turned to penny
stocks..or don't even exist today..most brokers are full of
crap. A lot of them are lower than a "pimp" what gets me, is how
they turn a blind eye towards the syster ones, as they are so
afraid it will tarnish the image of Wall Street.
Jim
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