shoreco "I must admit I never shorted a stock
until I started following the DrBob board.
I have learned to trade both ways and I'm even learning
to hedge a position I hold w/options,long or short."
That's great! Good for you!
I've never understood the hesitation most people have
when it comes to shorting the market.
Yeah, I know the patter re unlimited risk, but nobody in their right mind
is going to hold a short position in a major uptrend - nobody.
So, that argument is bologna.
There is no question that shorting should be like your
left leg. It takes both legs to walk properly and it takes
a combination of buying and shorting if you expect to be
a complete trader and prosper continuously in this market.
"Yes,I am the CMGI follower who has lost a ton of money on CMGI,"may I have it back please" LOL. I Traded in and out of CMGI since March, so I didn't get to feel the real effect of its crash but I did lose money, and yes, even I shorted it in the end for 4 peanuts."
The Pig was once a long for me too. But that was nearly three years ago.
So, you played the Pig and realized that even good companies
come crashing back to earth. Let's not even mention INTC, CSCO, etc.
Everybody was a market genius two and three years ago
when they bought and held as the markets ran skyward.
Today, many of them have learned a valuable lesson.
That is, if you don't learn how to trade but just believe
that you'll be the next Warren Buffet, you're liable to
end up in a soup line.
The market has no mercy.
It belongs to the swift and flexible; it always has
and it always will.
Keep up the good work,
FLACK |
