Edwin, you take way too much license in my response to you re: trading
I definitely do not buy and hold. I stand by my creed that the only way to make money in most techs is to trade them. However, with that said, in the last 2 months, I've sold IOM @ $25, @ $28, @ 31. So, I obviously have left quite a lot of money on the table too.
What I was specifically referring to in your post was your idolization of one's trading activity on the thread that was less than stellar.
A long time ago, I used to bet on the ponies. I used to bet show tickets as I thought that I'd have a better chance of getting something back. Someone came up to me and told me that was stupid. He said that if I was betting on the horse to show, that I must then think that there are 2 horses that are better than my horse in the field, and that I should bet on them.
The moral of the story: when you have a winner such as Iomega, there is nothing wrong with trading a % of your shares. However, never, never, never sell all of it. And, never let yourself get whipsawed. If you sell some and the price does not retrace, do not buy it at a higher price unless you have NEW information that tells you it's a wise investment. You'll make money from the shares you still own, and you'll have greater piece of mind.
Coming from someone that's learned the hard way.
Good luck. |
