Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: re3 who wrote (10394)	4/2/2002 6:26:08 PM
From: isopatch	Read Replies (2) of 36161

retired. Don't want to sound glib or cavalier. But, I don't feel discouraged about SWC at all. These things happen. They are a normal part of investing and should be taken in stride without a lot of emotion. I've added to my position today and have a nice low cost basis. Have not changed my LT view. Expect it to eventually reach at least the upper 20s, and perhaps exceed $30 within the next 1-2 years. Today was a very good buying opportunity. Getting too enthusiastic when a stock goes up or too negative when it goes down causes more mistaken decisions in this game than anything else, IMHO. When large drops like this occur, they also present the case - better than I ever could - for keeping a good cash reserve and always working with a basket of companies in small capitalization stocks because they are by definition more speculative and therefore require more diversification. Maybe you should try working with larger cap stocks with less volatility. They'll go up less in bull markets. But, with the exception of the rare Enron disaster they very rarely take huge drops either. Another alternative would be to invest in a well managed sm cap mutual fund. Mutual funds aren't my thing. But there are several folks here who I'm sure could offer you some excellent suggestions along those lines. But the real bottom line? That's being able to enjoy your investing or trading and sleep soundly at night. That quality of life is always A LOT lot more important than whatever extra money you might make playing stocks that may be too volatile for you to deal with, in other words too speculative for your risk profile. My risk profile limits me in some ways. For example, I don't sell short OR trade on margin. Lot's of folks do that here and on other threads. And I never criticize them. OTOH, I feel no compulsion to follow their example even though I used to be very good at both it when I was a broker, years ago. But I'm 58 yrs old now. And it's prudent to reduce ones exposure to risk as we age. IMO, there's nothing wrong with a more conservative profile. That's about the best advice I can offer. Hope you find it helpful. Good luck with your investments. Isopatch

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