>>Ahh.. The thrill of the market. It never fails to create very predictable human responses. Don't worry, you are one of many. This is a very well documented phenomenom in the stock market. People who are emotionally attached to a stock ALWAYS sell at a panic low, and buy back at a higher price, only to see it sink again. Then the pattern repeats. They never sell in the euphoric stage.<<
Thank you, Doctor.
I'll admit that I am emotionally attached to this stock. I will also admit that my repurchase was based solely on the fear of missing a big move up.
However, your use of the word ALWAYS does rankle. I have bought and sold Iomega a few times, and certainly not always at panic lows. In fact, my first two big Iomega sales came at a euphoric stage I'm sure we all remember, a little over three years ago. I did so well on those two sales that I'm still comfortably net positive on Iomega. I've even made some money on subsequent IOM trades.
But I am just being defensive. Yes, I am guilty of making an emotional buy decision this time. Nor was it the first time I have done that.
The good news, from my perspective, is that I am aware that I am emotionally attached to Iomega. I am also aware that it's a risky stock. Thus, I have kept my investments in it nominal over the past couple of years.
Although I wouldn't usually presume to advise anyone on what stocks to buy or sell when, I would advise everyone to be aware of your own fallibility, and only risk what you can comfortably afford to lose.
- Allen |
