A little rant from the king of the daysleepers:
30k to 100k, sweet...but I wonder how the
hot hands this past year will do in a bear
market? Will they correctly identify the
start of a correction and bail, or will
they trade all the way down and take them-
selves out of the game?
I too was able to triple my money last year,
but I have come to beleive that trading, yes
trading is a fool's game. How can this be?
Well I posted the answer on the e*group thread
awhile back...in a nutshell it is commissions.
Trading is folly--there is always a good chance
that the fella on the other end of the trade is
even more clever...and we already know that the
company collecting the commission has the best
plan of all.
Go back and look at the things that made you
the most money, maybe yours were solid smart
trades always in good investments. One of mine
was MINE, that is something I never should have
touched, that it made me money was just dumb luck.
Another: GMGC--If Microsoft had not thrown 5M at the
company, it might never have been discovered.
NEOTW...an Alzheimer's pump and dump. Crazy.
I have a message for all the gen-xers, and I'm
one too, who have put together a nice grubsteak
playing the markets this past year.
Take your gains and go back to school. There are
only a few really good reasons why we were put
on this earth...for sure one was to get laid
raise families and be good consumers, but the
other more important reason is to learn and
contribute to the body of knowledge created by
humanity. Most of us are probably too dimwitted
to every say anything original...but we might as
well try.
Well, I got off track for a second, however here
is my prediction. History repeats itself--we are
getting every day closer to a cliff, and it looks
just like the 1920s from my viewpoint. Convert
those trading gains to some investments--value
stocks or as I said, going back to shcool (the
ultimate investment). Buy stocks that will
weather the plunge, or get into cash. That is what
I have done, and it is my free advice for the night.
--Mike |
