TRUE STORY: after holding a long position in the mid-forties, I averaged down heavily at 33 (on margin, natch)...last week I was ready to pull the trigger on my entire position at 38, for a not insubstantial, but nonetheless ACCEPTABLE loss....just until the 3Q smoke cleared....I was, get this, IN THE ACT of clicking my E.Schwab bookmark, when I lost internet access for several hours (telco backbone down, sez the ISP) by the time I get back on ASND has dropped a buck and a half to $36.5, and formed an apparent, if illusive, base.
I took it as a sign from God, I wasn't supposed to sell at $38.
I guess I don't need to tell you I didn't sell at $36.5, or the following day at $37, or today at $35 ('gee, that's only a two-dollar gain...'). |
