LindyBill.....Why sell at all?
Thanks for the input, Jorge, I really appreciate the posts on this stop loss question. There have been some great posts! I have been buying individual stocks for 15 years, made enough on them in the last 6 to make it worth while worrying about them. Everyone seems to have been burnt doing what I have started to do, so I think I will cancel the order tomorrow. My concern with AOL is different than the way I view my holdings in MSFT, CSCO, and DELL. AOL has been too much an "easy money" stock, with a PE that scares me. I got in last March, used the "Russian Army" method to add to it, and am up about 250%. I have made more than that on the other three, without it bothering me, because of the much lower PE's.
I think it is obvious that there is a natural progression for people who accumulate some stock and start posting to these tech boards. They read all of the posts from people who say they are getting rich using various methods discussed on these boards, and they start getting shorter and shorter term in their thinking, going in and out of the market more, getting into puts, calls, short sales, etc, and ending up day traders, in many cases. We have all done so well the last few years that we get impatient and develop a "get rich quick" mentality. Nothing wrong with this if you are good at it, but I also notice that a lot a people on these boards who appear to be pretty smart, have all been admitting that they have been burnt in various ways. |
