Want your advice, Rande. My confidence got hit hard on first XRX then especially ANF. And with some of my "bargain dogs" slipping a little further this morning I decided to clear cash. Made the mistake of selling what turned out to be strong stocks including INTC to clear cash and now although I'm not in bad shape I'm holding a mixed basket of dogs and OK stocks. Sold half my ANF at 27 1/4 today. At least it sprang back from its lows and I still made a profit.
But I'm confused. This was a game of chicken this week and I feel like my first reactions were all the wrong ones. Of course I'm not to blame for the SEC announcement on ANF. How could I know? But otherwise, I just feel a little shell-shocked, especially after selling INTC right before it went up 5 points.
I have cash now but am wondering what to do. Maybe no move is the right move now. Just collect my wits again. Lost $8,000 the last two days but am still up $75,000 or so recently. Have half a mind to just sell everything and start from scratch. Give it a breather. Though I'm still confident that all of my stocks will trade substantially higher by mid January.
I guess sometimes you're right in synck and make a string of right moves and sometimes you get off-track.
right now I've got UIS, ANF, LOR, IBM, XRX, BEBE, IFMX, IMRS, some beaten-down DD stocks, FDX and CPQ in that order of value. These stocks are worth about $175,000. I've got about $60,000 cash.
Any idea how I should focus now?
Just asking because you seem to have kept everything well in focus. I ANF drop especially knocked me for a loop because I lost $8,000 right there. |
