That was a hell of a shakeout, and
yup, the bastards finally got me:
Here are some signposts:
TGEN closed below $1 1/4 today,
and ^btk went below 380 yesterday.
I can almost imagine that somebody
out there was grinning as they took
over lots of nifty 1000 share blocks
of a dozen biotechs from the sucker, ha!
Sold 150k of biotechs, most of which I'd
only had a few trading days. Shame on me!
Mr. Market probably got about 15k out of me
in the past week.
Happily, I am taking a distribution and closing
down the trading account, which will prevent
any further frustrations. Since my ira is
over-funded by 3x, I suppose I can give the
IRS their cut and move on.
And now ^btk can happily march from
400 to 600 by summer!
For those keeping score at home, at the high
in March '00, I was worth about 1.5M--maybe
more, for a day or so, things happened fast
at the top. However, now I can not even call
myself a millionaire, not quite anyway.
That is a hell of an ass-kicking, but I suppose
many did a lot worse. Many got wiped out.
I got to stay and play for at least a year,
while my trading account stayed in a trading
range. Actually, with stops that moved up,
I am in better shape now than I was last fall,
so that is something.
fwiw...
I still have about 100k in bioroachmotels, who
knows, maybe something in there will take off
someday, but I wont be watching daily, for sure.
I will say one thing--I think I am actually a
better trader for this experience. I was in tears
when I once parted with scads of ariad at 1/2
in fall '99. Yesterday and today, I could only
come up with a chuckle as Mr. Market shook me
out, then marched upward.
heheh, all you can do is laugh!
Oh well, I only put in about 30k originally,
and even after this debacle, I got out about
600k...certainly cannot complain. But I do
think if I a more level-headed personality,
something really amazing might have been done
with better trades.
EOM! |
