ps: I see big problems for YHOO and AMZN (after the split) because of all the negative comments from analysts on "obscene valuations" and articles on topics like "Internet Tulipomania."
IMHO, I think all these analyst are jealous. They scream tulips and pound the table every day because they did not take a chance and make the huge gains some of us has enjoyed. I think they are starting to see that the Internet is for real, and they missed the first surge. There has never been anything to compare to the potential of the Internet the growth is mind boggling.
I think the Internets will fly much higher in the long-term.
I am primarily speaking of companies such as AOL, Yhoo, Amzn, Msft, Mspg, and infrastructure play such as Csco , Fore, Lu, and Tlab's.
Of course these high flyers will be very volatile, it just part of the equation.
The market gives and take away
To remove your personal biases and let the market tell you what to do is to give up control, to give up the notion that you are actually in charge of how much money you make. For profitable trading, you need to move into the mental state of letting the market determine the profits, not you. It won't be whether you predict the market correctly that determines the profit, but whether your system is in a profitable mode or downturn mode as determined by the market.
I truly believe these words, from the book " Trading for a living by, Charley F. Wright.
Best wishes for a Happy and Profitable 1999.
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