<<what are you talking about? Your AMD is only $1 and change off its 5 year high.>>
yeah, well, I'm out of that trade, as I posted on the curmudgeon thread. Decided to give myself a "margin of safety" (one could also say a "safety of margin") and closed out a number of small side trades in order to hold more tightly to my G's and K's. Did this, of course, at the bottom on Friday morning, the worst possible time, but such is life...
Actually, the week--well, the month--has been quite educational. I'd goosed up my account with quite a bit of leverage over the last few months, both margin and options, and it was amazing to see how quickly it moved up--and down--in response to market moves. Easy to make lots of money if you're lucky and know what you're doing, or lose still more if you're unlucky and/or clueless. Net result is that I'm down nearly a third off my all-time high (about three weeks ago), but still up about 25% ytd. Lots more gray hairs, though.
Since compared to many of you I'm still an investing novice, and have a hard time learning from books alone, I deliberately took more risks than were wise in order to teach myself the game. Well, I've learned a ton along the way, and not surprisingly come out the other end a bit more tortoise-like than before. The hangover was worth the night out, you might say, but next time I might drink a bit less vino...
tekboy/Ares@alwaysgladtoprovideanobjectlessonforothers.com |
