Tim, thanks for the words of consolation. I have thought a lot about the mistakes I've made in the last 2-3 months. You're absolutely right in writing "These threads may be more useful as therapy rather than for picking stocks." Individuals nonchalantly throw out fantastic cash flow projections, with an air that they are absolutely going to happen. We have a perverse, greed induced self-interest in believing them, since if we do, and they're right, we end up rich. Unfortunately, the market is far less convinced of their size or certainty, and the market's opinion is the only one that matters. The stock is not being manipulated by market makers, or short sellers or anyone else. It's simple economics. More people want to sell the stock than want to buy it. I am not going to close it out completely, although I was tempted, but I have to get the debt burden down to a manageable level. I'll probably place a couple of sizeable stop loss orders before the market opens and hope for the best. I hope we all get a chance one day to sit down and drink a beer together.
jess |
