RE: Idiocy and IOM trading strategies
David,
>This idiot sold the balance of his
>IOM at 29 and glad of it.
At a nice profit, I hope, in which case you're
not all that much of an idiot, are you? My
original IOM purchase was in December 1992
(yes, 1992), and I sold those shares during
the spring 1996 runup for almost a tenfold
increase in my money, or about a hundred
percent annually. If I'd hung on for
another couple of months and had then sold,
I could've made almost a fifty-fold increase
in my money, but as they say, it's impossible
to time the market swings perfectly.
Are you and I idiots for selling into a
runup? I guess that depends on whether or
not people think it's idiotic to lock in
solid profits. I'm expecting another runup
in the next year or two, so I'm holding on
just now, but you're entitled to pocket
your money any time you like. The big
test of your wisdom is what you do with
that money INSTEAD of sinking it into IOM's
bright future, of course. An awful lot of
people on this thread claim to be spending
chunks of their earnings on fast cars,
sailboats, airplanes, and scuba lessons.
Maybe they didn't sell as early as I did
into the spring runup. I'm driving the
cheapest Saturn I could buy. <g>
Happy trading, all.
Cheers, Tom (long IOM) |
