I to am very upset after reading Clappy's post.
I am saddened by claptonsguitar post, maybe upset, it's hard to tell. People seem like friends even if I don't know nor ever met them.
He said: I sold every stock I own this afternoon approx. 1/2 hr. before we hit dead bottom.
How does a tragedy like this happen to a friend? How does it happen to someone who has been connected into this great network of ideas? I have only one idea, and that is that Clappy was getting all his ideas from one source, which is here, a fun and friendly place. The market however is a decidedly cold and unfriendly place.
I like to talk about my latest idea, the flashy new filly on my arm that it reaching new heights. Those have left me lately in a pile of horse**t. It's the old core stocks that give you resolve on the down days. Second, is everyone seems to think they got to buy every good idea on the block. That's great when you have the cash, but sooner or later you already bought every good thing you can, and a bunch of new good things are mentioned. Well, it's like being in the candy store, when you already picked out the jelly beans and the goo goo clusters and spent your dime, you just got to leave the chocolate covered raisins for another day. The better things look the more you must resist margin! RESIST MARGIN! I can't say it enough.
Well, that's it friends, your got to have some boring core stocks so you know when disaster happens you aren't going to have to move back in with mother, and you use your margin on the way down, not on the way up.
This is a great thread, I could live here, but to survive you got to stick your neck out into those unfriendly areas to see what's happening too, because when money is involved there is a whole line of folks ready to cut your n*ts for a dollar (or whatever else they need to do to separate you from your wallet).
TP |
