Getting my mojo back. Sorry, nobody likes a whiner. We all have would've-could've-should've stories. If we were always right we'd be zillionaires. Every day I notice stocks which, if I had held would have been 500% gainers. Oh well. At least my instinct to buy in the first place was right.
I've only given back 10% of my recent profits, and have about $85,000 cash now. Am still up $78,000. So what I will do is to accept those losses, forget about them and now get back on my horse and trade wisely.
We can expect volotile yoyo'ing between now and Jan. 5 or so, after which assuming we haven't had a monster rally by then everything should stabilize and probably rise in a more rational fashion. So instead of freaking out we need to try and take advantage of the yoyo effect.
I now have about a dozen bargains on my watch-list and will low-ball them over the next days, especially on any downdraft. Will double up in some cases. (UIS, IMRS, IBM, Bebe even ANF again).
Will not sell in panic and have $85,000 to spend between now and january. Will diversify (yes I had too much in ANF and should have known better but was mainly just unlucky).
Will look at beaten-down high-fliers like CORL as you suggest but will be patient and try to let the bargains come to me. Will not worry about taxes because as I just found out I'd rather pay tax on a $10,000 gain than have a $4,000 gain by holding through a top and selling much lower out of sheer disgust.
Every day you see bargains as sector rotation gets more and more rapid. Bought LLY yesterday and sold today 5 points higher, for example. Techs look strong but for every ORCL going straight up there is a UIS going straight down. But the two could reverse directions tomorrow.
Yes, tomorrow is a new day. I am hanging in there. Just got lost there for a few hours. Bargain-hunting and timing is still the name of the game. |
