In my earlier posts I indicated that I am a very quick trader. I don't like losses, but unfortunately I take them because I'm called away from my desk, or I'm an idiot, or I get emotional, etc.
<<Lots of folks who sold today had big profits to protect. I wonder where they will put they're money now.>>
Are you that focused/obsessed/foolhardy to believe that there is only one stock to play in the entire market. If you look at some of the indexes XCI for example, the AMEX Computer Technology Index, you will see a failed retest with damage being done. Do you subscribe to the notion in war that if the generals (leaders) charge but all the troops (followers) are killed off the generals won't retreat or be killed, metaphorically, that is.
There are adages which say that the industry group accounts for ~70% of a stock price movement, ~20 for the market in general and ~10 for the individual company. There are obviously exceptions, but if you check the new high list in IBD or your particular source of information perhaps you will find other stocks who might fare just as well or even better than a company like DELL who is obviously overowned institutionally. Do you think there is any institution out there who hasn't bought DELL (if fitting in with market cap constraints) already.
Not trying to be bitter but informative.
Branch out, diversify your stocks, your sources of information, study, and learn. That's what I do.
There are always new sectors taking the lead, new companies leading the charge, history is rife with examples.
Best of luck/happy holidays.
Bon Chance.
Jim |
