cellhigh, Steve and I discussed getting out at around 3:30 due to the normal last half our swoon that RMBS often has, but due to the strengthening market, I decided not to take it (I had an order at $183 which I took off the table a good 15 minutes before it got there), and of course, I erred, you got to realize that when you trade a lot you err a lot. In my case the buy and hold would not have worked because I will always use stops, I am not smart to know if the next swoon down is just a relapse or the beginning of a slow death, nor am I smart enough to predict whether RMBS will eventually prevail, or the "dark DRAM" forces (VBG), will win. It is really a major battle in which the "enemies" are not going to stop at anything to obtain dominance over their competitors, including relegating a new standard to "also run" status if it serves their needs. I think that eventually RMBS will prevail, but note the critical word is "think" , not "know".
By the way, there are some very smart people out there, for whom I have a lot of respect, that believe RMBS is not worth more $10/share, they are quiescent right now and probably licking their wounds, but their opinions should not be dismissed.
By the way, by trading RMBS over the last 18 months, I have brought my cost to under zero, thus any gains from here are "infinite" gains percentage wise, unless, of course, I miss a major move again, or take a major blood bath (just as I recently did with CYMI).
Zeev |
