How correct you are when investors believe they have become "great" stock pickers. I try every time to take a profit, on every trade. There are many times I leave a boat load of points on the table but just as common is the fact I miss many a train wreck by doing so.
All those here who say they bought at 12 or 15, well, that's great! But name those stocks lately that were at 12, took off, then returned below 12. ONSL could have that happen, who knows??? Those who bought above 50+ bought so thinking the stock wouldn't go to 39.
They rationalize, cost average etc... until finally, something does happen. Either the stock moves north, they sell out or they hold until the tax consequence is beneficial.
I don't ever wish bad fortune on anyone and their investments. I don't have all the answers. I know sometimes I'd rather be lucky than good.
Question: When the futures were getting hammered last night, I thought if I was long, how the heck would I get out of this mess? Well, there is a God and thanks to that and the fact the European's dropped the interest rate, stocks went up and then retreated. Did anyone see that as an opportunity or did most get filled with greed again? How many times will that happen? I have been in cash for a couple of days so I was fortunate ;)
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