Gary, For the most part, you are solidly with the polyanna majority on the market, and there is no sense in trying to change your mind. The market will do it for you, eventually. <G> Besides, this is the Ascend thread.
I love Ascend the company, having bought it soon after the IPO. I also bought puts near the peak, then bought it and sold it again and bought puts again several times as reality started to rear its ugly head. The fact is, this is an emotion-driven stock with mucho volatility and fun to trade because of the large, quick profits to be made. I think we have entered another overpriced zone on Ascend, but I am not buying puts, yet. Another five points and I'm in.
Not all of the folks who invested in the 1970s are alive today. And many bought the tech stocks of their day, like Mohawk, National Equipment Rental, Data General, Commodore, Atari, etc. They are not rich and retired. Then again, many of us who got out at the top (I actually got out too early, but not too much so) and back in at the bottom (which I was lucky to hit almost on the nose), made a lot of money and spent it. After all, having fun is the name of life, not saving up so you can have somebody tend your arthritis. And the money is always there to be made again. The crowd is very easy to pick off.
I am not gloomy. There is always money to be made, but not for one-decision automatons. That is a trend that is doomed from the start.
Good Luck,
MB |
