Actually in 'hi flyers' the devastation was worse. Some of them were cut by 150%. Just because they were once a 'speculative bubble' and we enjoyed the gains, it doesn't mean the dream will go on forever. Its time we awoke from the 'enchanted sleep' and saw this market for a new chance to make new profits, as long as you got out in time. There was plenty of warning.. Remember we were one of the first in the oil service sector, then the internet sector, then the tech sector and then the biotech sector. Long termers we were for as long as the gains were there. We called a 'sell' in the internet sector about the time NTBK started to 'leak'.. I had my own personal reversal in "Cliff's Drilling" has since merged, back in 1997 which was probably the first reversal I called on this thread. We were among the first into NSOL, NTBK, and PHCM (it was trading at 11,000 shares a day then, PLUG, PUMA, CAMP, ELNT etc. We got our 2-500% but when it was over, the flag was pulled down. I have been an investor since 1987 and even before with equities in Israel that since moved to the nasdaq, but I don't need to list my gains, its boring, won't help anyone else make profits and that's all this thread is about. I only would post what can be seen on this thread since 1997. Long termers don't hold the monopoly on long plays, they just think that they do.
The technology sector is no different. We had our flags up for FLSH, FLEX, BCE, BRKS, TLGD, ELNT, NT, WCG which were amont my longer term holdings. I pulled the 'half mast' and finally got out and pulled the flag down, folded it nicely to be raised again when the Techs recover.. not a little blip of relief rally, but really recover.
Got out at or near the 52 week high on all except NT which I suffered 30% loss of profit after entering at 53, and 56. I waited until NT was up about 13% off the lows on its second rally and then I sold the lot, cutting my lost to 17% on a 225% gain. That was the worst loss from the lot. |
