<<<I'll tell you, it was as painful as last October for about a week. I bought every share I could, although I was in last February. I saw months of equity shrivel up. When I got close to running out of margin, I bought jan 180 calls and started selling csco and msft. Sold off positions built over 8 years>>>
Painful but wise decisions, as it turned out. The investment
game has changed radically. Ten years ago buy and hold was
fairly predictable. Then came the numerous options and the tech stock flyers like msft, csco, aol, dell.
I still think long term like 2 to 5 years out with the advantage that one has some confidence the stock is not going in the tank
That provides the (apparent) security nescessary to take risks (on real
flyers) that others won't take, with the reward being greater gains as Q has recently.
I rather resent being pushed toward a day trader stance
to deal with market volatility but that seems to be the "game" today
and 'When in Rome, etc'. Am not there yet (day trading)
and its not my style.But I have been dealing with some short term options (aol,jdsu)
I look at this overall as a continual re-shuffling of assets into stocks with the most near term potential, but ones that still have excellent long term outlook. IPO's are another mans game.
So somewhat similar to your action, have sold Eds, Intc
leaps, most of Csco, Low, etc to move it into Qcom, Jdsu, Plcm
It was not easy( to sell csco), but so far it has been
a correct decision.
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