"sell at 65 and buy at 45", unfortunately, it is not that easy.
PCLN dropped from its 85 opening all the way to 60. I remeber
many people on this board were so glad that they flipped.
I am willing to bet here at 70% of the people who flipped
PCLN at 80 did not buy it back at 60 and still hold it now.
Same thing with Ebay, it opened at 50s and tanked to 25,
go and ask your friends around, how many of them flipped
Etrade and yet bought it back. Very few, I guess. That
is why I have been hearing this so many time: "Damn, I
shoud have bought Ebay back at ....", well, you fill in
the number:)
Unless you are a VERY VERY VERY good trader who can see
the market short term direction well. But, I think I
am told that nobody can timing the market, not before,
not now, and not ever. |
