Andre, re: "Sweet". I held SSTI in both my IRA and taxable accounts.
I had a feeling that the market would turn around, SSTI would do well, I had some taxable losses to take from a year back. So ... instead of selling and taking a loss, I bought a bunch of SSTI. My timing turned out to be just right. I bought at $4.61 and sold at $8.99 (net) ... in just over 30 days.
The way I was taught, you make money -- "a little bit at a time, over time -- and watch your taxes too." I rarely sell all of my shares in any stock that I once liked -- "all-at-once". Nor do I spend all of my cash buying anything on a single day.
Every buy and every sale is a judgement call, tempered by 30+ years of investment experience, a college degree in Finance, etc. Most years I beat the mutual funs but this last year was a "down-side doozey".
IMHO, if you want to be an independent investor in the NASD, you have to be a totally-connected, spend every day on the 'Net, balls-out investor -- willing to take HUGE losses. Otherwise, take your losses and go home.
Margin players need not apply. This is all about getting burned and having the staying power to buy up everything in sight after the firesales. Anyone who thinks that a rising tide lifts all boats hasn't experienced a hurricane. For every dollar made, a dollar is lost by someone. Every dollar "lost" is more likely to be lost by you than by someone who works on Wall Street.
Wall Street owns the casino, I have some friends, and most of those who post here, are "retail clients". Honest Injun ... if you play long enough, you can't beat any casino in Las Vegas. You also can't beat "the street".
Craig |
