At some point in time, each of us has to put a stake in the sand and say, "This is hallowed ground."
Hallowed ground represents the foundation of our business character, the root of our investment beliefs, the success of our trading strategies, and the measure of our risk preferences that causes us to take a stand that we defend with our investment capital.
Today, the market and its highway full of 18 wheelers left their tire treads on my little plot of this hallowed ground.
But rightly or wrongly, I put my stake in the sand. I added an additional 10,000 more "deltas" to my net long Dell position via options and stock around the $91 mile marker.
Irrespective of whatever may be reported on Tuesday, I am comfortable with this bet and I'll be around to see it pay me for the risk I assumed sometime in 1999.
If you don't buy when there's blood in the streets, you're a momentum player and are probably over-paying for your Dell. We'll all do fine, whatever side of the market we are on. Just defend your hallowed ground.
Good investing to all Dell threaders and thank you for your contributions and observations.
Best regards,
Mark A. Peterson |
