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Dear Eric, thank,s for sharing and kind words,I totally agree that with names like CSCO and patience even bear market is just temporary and usually much shorter event.. I also lived through 1987,although,I actually had S/P 100 puts September strike, so they did not do much good,as market collapsed 3 week after their expiration.... few years later friend of mine lost on CSCO $120.OOO and asked me to recover it for him ,if possible,that was one of a few times CSCO sold sharply and fast, I recovered his loss + some change for him within 3-4 month.... Eric I am a trader and money manager, for me capital flow coming only,if I have money management discipline... if I took a trade and my capital down 5-7% even 3 minutes after purchase, I would sell..... The reason I put on this thread original message IS: even with 14% shakeout, most of the long term holder,s, mutual fund investors,and general public complacent.... I do not have position in CSCO, but my message was directed to people , who already putting price tag on stock that is as overvalued as most of this market even after 'Correction" I wish all of your,s dreams will come true, but experience taught me,that nobody from MSFT to IBM to CSCO is infalluable.... as long as institution,s love the stock and/or market,but if they don,t....better be protected ,You probably remember IBM at 350 or Digital at 185 now everebody satisfied with 1/3 of price..... in 1987, we did not deal with global problem..Anyway I wish all of you the best of luck and as of the moment CSCO chart look GREAT, Regards Magnifique |
