it's not THIS or THAT, you can do both things, short- and long-term trading/investing.
if you believe in a company's future there's no reason to sell.
"believe" doesn't mean blind faith, when there are reasons behind it.
i'm into CMGI at a cost basis of $ 8 something, had i done what you recommend i would have sold at $ 10 (genius, made 2 points) and missed the $ 120 i could sell the stock at today.
and though EGRP has been cruel the past few months, in part thanks to interest rate increases and overblown inflation fears that kept the whole sector depressed (check the BKX), in time noone knows how far this company can go if it keeps its current growth rate.
a global Nasdaq in the US, Europe and Japan will add to the fun of it and EGRP's revenues, and put the sector back in the spotlight.
i, and some of us, believe in EGRP, you don't.
fine.
i believed in AAPL and Steve Jobs in 97 too, bought the shares at less than $ 17, when the cover of Wired Magazine was a multicolored Apple rotten at the core and in big capital letters the word "PRAY", and the whole analyst community, and i mean ALL OF IT except only one guy named Guy Mazzuchelli, was bashing AAPL and their brokers shorting it.
since we are at it, let's also mention my biggest daytrading hit, since you seem to only like that: i bought very very heavily (lots of those usma-blocks) into Bamboo (BAMB, now IPIX) on IPO day, at $ 10, sold on the gap up the very next morning at $ 24.
hit and run, toccata and fugue, was it fun...
out to run 10k now, see you all suckers
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"It's called making money, oh ye of great faith in EGRP. This isn't religion or politics, what is the point of blind loyalty to a stock." |
