Jan,
I'm not sure which particular post you refer to, but re: CMRC this is what I have felt...
I'm not overly bullish on anything as far as trading is concerned - I closed my position in CMRC (yesterday ?) at 224. Doesn't mean I dislike the company in the least or wouldn't buy at 235.
Glenn had mentioned that he had 3 times the # of shares he had wanted to buy because it kept going lower and he kept averaging down.....so I was reminding him to sell the extra ones he had averaged down on....and today I felt that Glenn was planning to buy back. In my opinion, thats chasing the stock and can be very damaging psychologically. Its okey if CMGI loses 100 points, because my average is around 45, pre split. I don't react much to the 100 point loss. But if I had bought it at 200 and it had lost 100 points, I'd be hurting terribly right now....same 100 point drop, but difference in perspective.....thats why I mentioned to him that if he liked it so much, better than chasing it, might as well build a long term position and get on with it !!!
back then at 156, I felt that once it broke support at 150 it might go to 142....in fact I nudged Glenn once in 150s or 160s by saying if he liked it at 213, and 180, he should love it in the 150s or 160s...
That said, I like to play CMRC but its not a long term hold for me.....I prefer Vert...especially because I have come to recognise the swings...and also because I bought it at around 25 split adjusted...and have maintained my core position...just traded around it...
Just my opinion and WDIK as always <ggg>
EDIT : Sorry, with vert it is 50 split adjusted, this split will bring it to 25 :-) |
