Hello everyone,
Been a hell of a day. I know it is a challenge looking at all that value disappear but it is a necessary evil. I would not even consider selling unless I was in a margin position. Not even close. The few on the thread that claim doom and gloom, get a grip on yourselves, and for Feraldo (your a clown, go find a circus).
The market always over reacts to good news and always over reacts to bad news. Always. It is just as a number of seasoned investors on this thread have mentioned, psychology is the greatest element involved with the stock market when you have mastered it, you have come close to doing the same with the market. Whenever I encounter these corrections I try to consider them a sale, similiar to when my favourite cheese goes on sale at the local A&P. I don't run from the market shrieking, 'oh my god the cheese is on sale', I buy two hunks instead of one. Now I realize it is not that simple, money entails much more emotion, but the basic concept is the same.
The biggest problem I will have tomorrow is what to buy, Qcom, Jdsu, NT, Yhooa, CMGI, even LU would be a good buy. Late last year when IBM mentioned problems they were going to have and the stock tumbled form approx. $120 to $89 in a few days, I loaded up on $120 calls. You know the company is going to rebound, because people will over react. It is the same as someone saying something in the heat of the moment that they end up regretting latter.
Excuse the ramble, and good luck to all. I may even unload my IBM calls and roll them into Q or JDSU.
And to the doom and gloomers, I have an idea, heh!......don't forget to throw out the baby too. |
