John:
Yeah, hard to believe, but he just didn't like the fact that his investment was worth X one day Y another. Bottom line is that his mind set was not suited for such an investment. As you appropriately state, it requires vision. Knowing the guy, and the tax lawyer that he is, I'm sure he used the STCL as offset against other gains he might have realized over the course of the year.
Overall, today was good. I still have some sleepers. My overall portfolio has faired well in this maelstrom, however, I have kept a watchful eye on some naked puts I wrote as little as 2 weeks ago to as long as month & half ago, that are in the money but not by much. I'd like to see another day like today over the near term (few weeks). My only deep doo-doo position is in NEON, which I'll likely have to rollout a month or two. The rest of my open positions are such that if they expire in the money, I would not necessarily mind owning the stock, but only if the current levels can be maintained since they're not in the money by much. So, no happy street for me yet, but a bit more relieved.
Yes, TKLC has rebounded well, as I suspected it would. And my BEAS has responded handsomely for a nice 20+ point pop over a small position acquired yesterday. Most importantly, that moron on the Yahoo thread has left the scene, most likely with head in his pants, because if he hit it bigtime we would have heard it about bigtime.
Gotta roll. |
