Agreed. $50 hard support. $45 even harder. I remember those days of early June, watching it sink under $100 (pre-split)6/2, 6/3 6/4, throat constricting as it diddled around in the $90s. Seeing it hit $90, Allen's tender offer. Jumping out of my seat with indecision--either dump my remaining stake, or else load up. Waiting for some sign, ANY sign of strength. For weeks, threaders had been proclaiming, "This is the bottom, GREAT BUYING OPPORTUNITY (from 170 on down).
End of story: bought at 99, 101, 107, 112, 120 and rode it up.
Story continued: Rode it back down. Those who don't learn from history are bound to repeat it.
Next chapter: Where's the bottom? Here comes this alleged annual August market swoon to complicate things. Annual--is that like saying "I got sick last August and I got sick the August before, so damn it I'm going to get sick again"? Lousy logic. Or is it like saying, "Last August we had hot weather, the August before we had hot weather: therefore . . . ? |
