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Pastimes : Rules We Can Learn From
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To: ron peterson who wrote (16)4/26/1998 1:48:00 PM
From: mph  Read Replies (2) of 109
 
I sure agree with the "take your profits" advice. My biggest mistakes seem to occur when I fail to follow my instincts and talk myself out of things. Examples:
1. I cancelled an order for RMBS at $31 a few days after the IPO
2. I had my finger on the trigger to sell all my holdings the Fri. before Black Monday in October becuase I thought people were psychologically freaking out over the 10 anniversary of the 1987 crash. I cancelled the sell orders.
3. I talked myself out of AMZN, CIEN and FGII on the weeks they IPO'd.
4. The one IPO I did buy fizzled, and I bought that one too soon against my own better judgment!

And that's just the tip of the iceberg!
mph
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