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Pastimes : Pennystock Experiences: The Good and The Bad
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To: Howard C. who wrote (14)11/10/1998 11:42:00 AM
From: RavenCrazy   of 34
 
Howard says

And finally, if you DO hit a big one that doubles or triples in a short time, for goodness sake, SELL it and run.....memories of MTEI.

and I couldn't agree more. One of this biggest cons going around for the past few months was that you were betraying the group if you sold. That's when the "Hang on hang on, you ain't seen nothin' yet!" cries start, as the criers start dumping. They talk about capital gains taxes and how the "smart" investors just wait. And I BELIEVED that.

Then I started occasionally getting PMs after a run, or sometimes at the peak, asking me when I sold, from people who had sworn they weren't going to sell until it was a ten-bagger. I then realized that EVERYBODY sells upon a big run. Everybody except those taken in by the pros. Among the ethical, it's not even denied. Many use a portion to sell and another portion to keep. But you NEVER hang on to your whole amount after a run.

What goes up usually comes back down;
What goes down SOMETIMES goes back up.

Raven, older and wiser. Oh - to answer Kerry's question. I lost indirectly in MTEI because of Smacky Joe. I never trusted him for a moment, since he reminded me of a Jim Jones cult (How DARE you question our leader?), but he influenced good people, whose opinions I value (and still do).

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