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Technology Stocks : NEXTEL
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To: Al Gutkin who wrote (5501)4/1/1998 9:29:00 PM
From: Arnie Doolittle  Read Replies (1) of 10227
 
"all I found was the mirror."

BINGO!!! Al, that's it. Don't you see? Think of everything you've ever done in your life and how many times have you been forced to accept full responsibility for your decisions? Seldom, right? Usually we can rationalize and blame someone or something else. Even at work we are seldom the sole reason something happens or doesn't happen. (We like to take credit when something goes well and blame someone when it doesn't.) BUT THERE'S NO ONE TO BLAME IN INVESTING BUT THE LITTLE OL' GUY WHO PULLS THE TRIGGER. And that's what causes us to break out in a cold sweat when decision time rolls around. It took me 3 1/2 years to learn how to live with my investment decisions. Sleepless nights? Sweaty palms? Self doubt? Lousy investment results? YES! YES! YES! And YYYYYEEEEESSSSS! I've experienced all of the above and more. That's how I know what you are going through. It ain't fun.

And now you know why I turned to technical analysis for help. Boy, howdy, did I get help. Even though it took me several years of HARD work to learn ta and to define what kind of investor I am, it was well worth it. Sleep? No problem. Beat the averages consistently? By a country mile. Can I turn down a stock idea? In a New York second if it doesn't fit my profile. Do I listen to others? Yes, but only if their info adds to my knowledge BUT I DON'T LET OTHERS EMOTIONAL SWINGS INFLUENCE MY DECISIONS. If new information requires a change in my thinking about a stock, BIF! BAM! POW! I react.

You're on the right track to learning what kind of investor you are. I suggest you read some of the books that I've previously posted on this board, especially those interviews with successful investors and the Jesse Livermore story.

Arnie
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