*AV*--Okay, I chickened out after the SOC downgrade announcement. Sold at 33.50 for a $2 gross profit ($1.87 net). Nice day trade. I also waited for Halla to speak on CNBC then bailed out with a $1.125 gross profit ($1.00 net) to complete that cycle. I am getting very nervous about a reversal that is being masked by the performance of a few DOW winners today. If you zero out the top 3 gainers you have a down situation.
Hit and run is what I did today which allowed me to increase my cash position in one account and to reduce margins in another account another $15K. My nerves are shot, Patrick. I think I lost feeling in my right upper extremity.
Andrew
BTW-I told my Mom to dump her CCI stock today. She originally got in on my recommendation at $25 in 1992 so it was time for the "Queen of Holdings" to pry the shares loose for an ~$150 profit. I wonder if I should bill her for services rendered. IF not her, at least make my brothers cough up a few bucks for indirectly managing their future inheritance<GGGG>.
Now if I can convince my uncle to dump his DELL, that goes back to the late 1980s. I convinced him to buy 100 shares in 1989 and he put it away for retirement and had never paid attention to it. He retires next year as a federal employee with a decent pension but his 100 shares have split enough times to create 4.8K shares, if my math is correct. I truly hope he followed his plan and did not part with his stock. This guy needs to write me into his will<GGG>.
The reason I mention this is to reinforce that you did not need to invest in IBM after the '29 crash, nor did you have to be smart enough to invest in MSFT or INTC in the early 80s to enjoy life later on. DELL in 1989 was a huge success less than 10 years later. Opportunities exist that pay off with patience. CCI was as recent as close to 6 years ago.
We need to start spending some time to discover and invest small long term funds into opportunities today and allow them to create wealth down the road. Understandably it will be in Technology. The key is which sector or company will perform as well. Will it be PAIR, CYMI, AMAT, NVLS, ATMI, CIEN, ALYD, QCOM, ASND, ADPT, FTEL, WCOM, WCII, PTUS, NCDI, MTZ, DY, VRSN, ISSX, etal?
I would like to start spending some time on developing long term prospects for creation of wealth. I am looking at a situation where we determine a core group of stocks and buy 100-500 shares at the appropriate time and file them away for the retirement years. For aggressive traders all that is necessary is to peel off some $$$ from some of your best trades and roll them into these securities. For the smaller invester or the conservative investor, we add shares on reversals such as KLAC and NVLS. As much as someone can guarantee anything, each of these will have a run up to at least $60 in the next few years. Long windedly, I am advocating some long range planning with some funds whether it is in technology or the conservative untilities or financial sector.
BTW-I guess we have to be grateful that ALYD reported some good numbers recently. The YR2000 sector stocks are getting slowly decimated, making some of them screaming buys WHEN they finally bottom out. What is the story with VIAS. Under 16 when it was over 50 not too long ago. Most of the more visible YR2K stocks are crumbling whether it is DDIM, VIAS, PTUS, etc.
BTW2-please note that the DOW dropped close to 20 or more points into the close. This 50 point pop in the DOW hardly covers the CCI component of the picture let alone the other upsides. This means a majority of the DOW stocks dropped today and were masked by a few major gains. |
