Larry, I lost an unbelievable (for me) amount on APM also in both stock and options (thankfully I lost confidence in the company's strategy and management, so bailed at $26 and change, so salvaged something). This is my first losing trade with QNTM though. I've been more of a hit-and-run kind with QNTM, which means I've done some nice trades, but didn't catch most of the big up moves (like the one to +$40). I've only done options with QNTM.
I'm now losing with 3Com in both stock and options. I would feel like barfing also, but I have already actually acknowledged the prospect that, if the big 554 pt DOW drop did indeed presage the introduction of a bear market, then eventually I'll lose maybe nearly everything. Not to worry though, as I have a good, stable job, and it wouldn't affect my lifestyle in any way.
So far, I don't see anything to indicate an overall bear market, but its possible that, as Jeff Mills pointed out a few days ago, we could go into a "tech bear market". In that case I would put new money into consumer stocks. People always buy groceries, etc., so there's plenty of opportunity to learn a new sector.
DK |
