You had a post this weekend where you stated that apparently you are the only one who
is ever wrong. Allow me to join the club. I overbought in the days leading into the June 1
bottom, and have spent the last 30 minutes selling about 35% of my net shares into this
small bounce. I was up 500% since last October,(after a compounding 50% per year for
the previous 10 years), and 250% since January 1, but have slipped to 100% for the year,
taking a brutal beating on aol, athm, ebay, rnwk, vert and cmgi in the past two weeks.
That is enough. FWIW, I now have about 20,000 shares of various nets but am off
margin. Time for a break from this level of speculation, and to just go into buy and hold
mode.I cannot throw away the chance to retire within a couple years.
And I will be ecstatic if this marks the bottom. and it really should be, with interest rates
stupid high, sentiment so negative and the nets set up for the pre e run. But I can't afford
to be wrong, holding as much as I did.
Gene,
I bought way too high on many stocks. I sold some some AOL in fact all but then was stupid enough to buy some back. I took a killing on PCLN, AOL and AMZN today.
I wish you the best. I wish all longs and shorts the best. I hope this selling is finished in these stocks.
Glenn |
