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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: waverider who wrote (19680)4/20/1998 1:36:00 PM
From: rocklobster  Read Replies (1) of 95453
 
Diamond,

I have to confess as a trader that at this time I am wrong and you are right. I feel pretty stupid for having sold GLBL and FGII last week at 20 1/4 and 35 7/8. I feel even worse that I put good money into bad investments AAPL at 39 /4
NSCP at 24 3/4 and AVEI at 38 1/4. I closed out the AAPL and NSCP for 1/2 point losses and am still holding the AVEI for a 3 point loss. I would have sold that one too but my computer crashed this morning and by the time I got back AVEI was already down too far. I think that with blow out numbers like they had that they should bounce back well but hope seems to be the eternal enemy of the trader.

Buy and hold would have made my portfolio much happier this time.
For the real miss. I almost entered KTEL at 19.5 last week when it first corrected. It was up 20 POINTS at one point today to 49 5/8. Talk about the mother of all misses. Anyway. I live to ride another day. j

As to the why I sold question. FGII and GLBL and met my short term objectives and I was scared to hold through SLB earnings. I thought that there were more things working against us then for us short term and thought that I could have gotten back in cheaper. Maybe I still will. who knows.

I live and learn and hope to keep it all in perspective. Thank you for your post from last night. As a new trader, it is particularly relevant to remember what really matters. I hope that some new friendships made here might eventually be more important than whether or not we made a buck on any particular day, and my condolences.

One day at the GREAT RIG PARTY, we will all be able to laught together and toast our many lessons both positive and negative.

Thanks for your friendship

Later,
Richard
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