Y2K: I actually began to buy gold shares this year (BGEIX mutual fund)
and found myself continuing to average down through the summer.
Just when I realized the error of my ways, fate gave me a nice exit opportunity.
Now, I've been trying to just maintain a hefty (for me) cash position,
not actively selling anything, just putting off further equity purchases
until y2k is behind us. Maybe there will be some great bargains
in late December; kind of a self-fulfilling prophecy.
Unfortunately, some bargains are coming along early, and I have been
unable to resist buying things like ATMI yesterday, and more IDTI
a little earlier. Cash just burns a hole in my pocket...
However, I am more inclined right now to take quick profits.
Call it skittishness.
At any rate, I seriously doubt that people will run for the exits.
But new purchases may dry up for awhile, making prices soft for the
lack of buying-pressure; or at least upside resistance levels will be difficult
to push through before spring.
Cannot justify more LSI for myself right now, as it's already far and
away my largest holding. |
