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Strategies & Market Trends : A.I.M Users Group Bulletin Board

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To: Bernie Goldberg who wrote (10464)	3/17/2000 12:22:00 AM
From: RFH	Read Replies (1) of 18928

<<IMO the Vealie is a device to use when Cash Reserve is too high. How did you get burned using Vealies?>> Hi, Bernie. I got a little greedy and paid the price. The stock in question was GUMM, the company which supposedly has the cure to the common cold. elnet.com In January, the price shot up from $16 to over $35. There was talk of clinical trials finally being published, and buyers were coming into the market in droves. I had already sold at 26 1/2 the week before, and didn't want to execute another sell just one week later, so I decided to adjust my portfolio control and move the buy/sell brackets up to the new trading level. Well, no sooner than I did that, the price started sinking to under $18 in a matter of four weeks. As a result, I didn't sell at this price spike, but started buying again. If I had it to do over, I would have put a stop loss order in at the top of the buy/sell bracket and let the chips fall where they may. I hope to explore opinions on this scenario at the convention. Sincerely, RFH

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