You've reminded of why I bought the stock in the first place ... and the second place -- therein lay the rub. My first buy was shortly before the split at the end of last year, with the intention of staying the course of a long-term investment. When it started the move up in January, I put a stop order in and, unthinkingly, forgot to adjust it up as the price rose. Then the Brazil crisis stopped me out at $44 and, while still in the throes of kicking myself a few weeks later, I re-entered at $46 (not an entry point I recommend, but kicking oneself, in addition to not being pleasant, detracts from careful decision making) and began watching the daily price like a hawk -- hmm, perhaps more like a lemming.
So, yesterday, when it dropped almost 10% from my last view in the morning to close on no news (which it actually does not infrequently), I was on the lookout for bad news. I had become so tangled up with second-guessing my judgment, that, not only did I misread the article, but I no longer thought I knew what netapp does!
I report this bit of temporary insanity because your responses were great in refocusing my attention on netapp itself. $46 was obviously not the shrewdest entry point. Will I keep watching the price on a daily basis? Yes, but now with an eye open to an opportunity for averaging down, rather than a leg out to kick myself. Even if I don't average down, will I think it was a bad investment in two or three years? I think not!
Thanks all,
Susan |
